Quick facts: Madison, GA

Quick Facts

97.5
Cost of Living
below US average
31,473
Population
2.29
Crime Rate per 1000
below US average
$53,626
Median Income
below US average
$524,000
Median House Price
above US average
$1995.57
Average Rent
above US average
9%
Poverty Rate
below US average
3.8%
Unemployment Rate
below US average

πŸ’΅ Affordability Calculator

Based on the 28/36 rule: housing costs should not exceed 28% of your gross income. Compared against local median income of $53,626.

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Income Needed to Buy

βœ— Stretch
$164k/year
Based on $524,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $164k vs median $53,626
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Income Needed to Rent

⚠ Stretch
$86k/year
Based on $1995.57/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $86k vs median $53,626
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Madison, GA

Madison, Georgia, located in Morgan County, is a charming small town known for its rich history and well-preserved antebellum architecture. With a population of around 4,000 residents, it offers a quaint, tight-knit community feel. The town is renowned for its historic district, featuring over 100 structures listed on the National Register of Historic Places, making it a prime destination for history buffs and architecture enthusiasts. Madison is also celebrated for its vibrant cultural scene, hosting annual events such as the Madison Cultural Center's Art Month and the Madison Morgan Cultural Center's various programs. Outdoor enthusiasts can enjoy a stroll in Memorial Park or explore the nearby Oconee National Forest. The town’s location, about 30 miles east of Athens and 60 miles west of Augusta, provides convenient access to larger metropolitan areas while maintaining its small-town charm. Madison's commitment to preserving its history and promoting the arts makes it a delightful place for visitors and residents alike, reinforcing its slogan, β€œThe Best Small Town in Georgia.”

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