Madison, Wisconsin Income Statistics
Madison Wealth Score
The wealth index reflects the overall economic prosperity and financial well-being of an area's residents based on income levels, employment rates, and income inequality metrics.
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B
Madison Around average
Source: Map AI Methodology
Income Statistics Overview
| Metric | Madison | Wisconsin Avg | US Average |
|---|---|---|---|
| Median Household Income | $74,903 | $77,698 | $80,455 |
| Median Personal Income | $63,878 | $59,261 | $60,758 |
| Average Yearly Income Growth | 4.1% | 4.4% | 4.8% |
| Six-Figure Earners | 14.3% | 11.4% | 13.9% |
| $200k+ Households | 11.0% | 9.2% | 13.2% |
The median household income in Madison is about 4% lower than in Wisconsin. Income has been growing slower in Madison (4.1%/yr) than in Wisconsin (4.4%/yr).
About 14% of adults in Madison earn six figures ($100,000 or more) a year, higher than the Wisconsin average of 11%.
Median Household Income 2009–2024 Trend
Median Household Income Over Time
Median household income in Madison, Wisconsin grew by 50.7% from 2009 to 2024, reaching $74,903 in 2024. That's an average of about 4.1% per year.
Income Inequality and the Gender Pay Gap in Madison
| Metric | Madison | Wisconsin Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.529 | 0.503 | 0.552 |
| Male Median Income | $71,232 | $67,892 | $69,667 |
| Female Median Income | $60,760 | $54,788 | $56,850 |
| Gender Pay Gap | 14.7% | 19.3% | 18.4% |
The Gini coefficient measures how evenly income is shared between richer and poorer households, from 0 (everyone earns the same) to 1 (one household earns nearly everything). The lower the number, the more equally income is distributed. In Madison, it is 0.529, higher than Wisconsin's 0.503, so income is less evenly distributed here than there, and lower than the US's 0.552, so income is more evenly distributed here than there.
Men's income is about 17% more than women's income in Madison, Wisconsin. Over a 35-year career, a 17% wage gap accumulates to roughly $366,520 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Madison, Wisconsin has narrowed from about 17% to 15% in 2024. Over that period the gap was narrowest at 11% in 2020. In dollar terms, the gap has widened by $2,482 since 2009.
Employment
| Metric | Madison | Wisconsin Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 2.8% | 3.2% | 5.2% |
| Working from Home | 20.4% | 13.1% | 15.0% |
| Commute time (minutes) | 18 | 18 | 22 |
Approximately 4,320 people are unemployed in Madison, Wisconsin.
The average commute time in Madison is 18 minutes, about the same as in Wisconsin.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Madison, Wisconsin has fallen from 6.1% to 2.8% in 2024. Over that period the rate peaked at 6.4% in 2013 and fell as low as 2.5% in 2022.
Madison, WI Wealth Compared With Nearby Cities
How Madison, WI compares with the 1 cities closest to it.
| Area | Population | Median household income | Income growthAverage yearly change in median household income since 2016. Each year is measured in its own dollars, so this is growth before inflation. | Unemployment | Income inequalityGini coefficient: 0 would mean every household earns the same, 1 that a single household earns everything. The lower the number, the more equally income is shared here. |
|---|---|---|---|---|---|
| Madison, WI | 260,079 | $74,903 #2/2 | 4.1%/yr #2/2 | 2.8% #2/2 | 0.529 #2/2 |
| Fitchburg, WI | 34,584 | $98,739 | 4.4%/yr | 1.4% | 0.469 |
Conclusion
Considering all these factors, Madison, Wisconsin has an overall wealth index grade of B, making it about on par with Wisconsin, and somewhat better than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Madison, Wisconsin.
How Rich Is Madison, Wisconsin?
Madison has a wealth index grade of B. The wealth index grades areas from A+ (best) to F- by combining income levels, employment rates, and income inequality; a B grade means residents are quite well off compared to the U.S. average. The median household income is $74,903, about 4% lower than the Wisconsin average of $77,698.
How fast is household income rising in Madison, Wisconsin?
Between 2009 and 2024, the median household income in Madison, Wisconsin rose 51%, from $49,703 to $74,903. Over the same years, income here kept pace with Wisconsin as a whole: +51% against +50%.
What was the median household income in Madison in 2023?
In 2023, the median household income in Madison, Wisconsin was $74,795, up 4% from $71,948 in 2022. The Wisconsin median that year was $75,781.
What was the median household income in Madison in 2020?
In 2020, the median household income in Madison, Wisconsin was $65,654. By 2024 it had risen 14% to $74,903.
What is the Gini coefficient in Madison, Wisconsin?
The Gini coefficient in Madison is 0.529. It measures income inequality on a scale from 0 (everyone earns the same) to 1 (one household earns everything). That is lower than the US average of 0.552, so income is distributed more equally than in the country overall.
How has the income gap between men and women changed in Madison, Wisconsin?
Since 2009, the income gap between men and women in Madison, Wisconsin has narrowed from about 17% to 15% in 2024. Over that period the gap was narrowest at 11% in 2020. In dollar terms, the gap has widened by $2,482 since 2009.
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