Madison County today
What this means
Values in Madison County are down 2.4% over the past year, now 3.1% below the Mar 2026 peak.
Permits January to September 2026: 41 homes, 24% more than 2025.
Treat these as area figures and confirm rent with comps. Sources and method: how these figures are built.
Quick facts
| Madison County | Compared with Florida | |
|---|---|---|
| Population, 2025 estimate | 18,759 | 0.1% of Florida |
| Growth since 2020 | 4.4% | -4.5 pts |
| Median home value | $116,200 | 68% lower |
| Median gross rent | $874 | 48% lower |
| Median household income | $48,485 | 35% lower |
| Owner occupied homes | 73.4% | +5.8 pts |
| Residents 65 and older | 22.9% | +1.6 pts |
| Average commute | 30 min | 6% higher |
| Homes built 2010 or later | 10.2% | -4.0 pts |
| Housing units permitted in 2025 per 1,000 residents | 2.1 | 72% lower |
| Veterans, share of adults | 8.7% | +1.3 pts |
| Median property tax paid | $965 | 65% lower |
| Average homeowners insurance with wind | $2,735 |
Census figures are 2020 to 2024 averages; see sources and methods.
Living in Madison County
03%, higher than Florida's 5.58%; 33.9% of housing in manufactured homes; and home values well below the state ($116,200 vs $359,000).
Rural Big Bend county seated at Madison, about 716 square miles on the Georgia line. County seat: Madison. Created in 1827.
Most people live in or around Madison, Greenville and Lee. Madison alone has about 2,967 residents.
Interstate 10 has four exits in the county, and US 221 and State Road 53 run north to Georgia. The county covers 716 square miles with Madison and Greenville as its towns. North Florida College is in Madison.
What anchors the area
- Colleges: North Florida College (Madison)
Households are small, averaging 2.34 people.
Growth and where it is heading
The Census counts 18,759 residents as of July 2025, versus 17,970 in 2020, a 4.4% change. Year over year: +0.62%.
| 2025 building permits | Units |
|---|---|
| Single family | 39 |
| 2 to 4 units | 0 |
| 5 or more units | 0 |
| Total | 39 |
| Per 1,000 residents | 2.1 (well below Florida, 7.6) |
Local background
Madison County dates to December 1827 and is named for President James Madison. Cotton plantations shaped its early economy, and the town of Madison remains the seat and largest city, with Greenville to the west and Lee near the eastern edge. Interstate 10 gives the county four exits, at US 221, State Road 14, State Road 53 and County Road 255, which keeps Tallahassee and Lake City within reach for commuters. Voters made it a wet county in August 2012, which opened the door for restaurant and retail uses that were not legal before.
See the Northeast and North Central investor guide for regional corridors.
Risks to price in
No hurricane landfall in Madison County since 2000 in the record we use. Wind and rain from storms still reach inland.
State data puts the typical homeowners policy with wind at $2,735 a year in Madison County.
Older stock (37.8% built before 1980) means insurers will look hard at roofs, wiring and plumbing. Insurance and inspections
Manufactured homes are 33.9% of housing; foundation and title rules decide financing. Manufactured home loans
Flood, storms and jobs
| Madison County | Florida | |
|---|---|---|
| Homes in a FEMA high risk flood zone | 420 (5.5%) | 13.3% |
| Homes with federal flood insurance | 88 (1.1%) | 13.7% |
| Insured share inside high risk zones | 11.2% | |
| Flood insurance claims since 2000 | 43, $979,916 paid | |
| Costliest flood events for insured homes | Other or unnamed flooding ($890,890); Hurricane Debby ($89,026) | |
| Major federal disasters declared since 2000 | 17 (11 hurricane, 4 severe storm, 1 tropical storm) |
Flood insurance discount: the county (unincorporated areas) holds Community Rating System class 8, worth 10% off federal premiums in high risk zones (map dated 04/23/25).
Private employers in Madison County: 3,264 jobs (2023), led by health care and social assistance (28%), retail (17%), manufacturing (16%). The visitor economy (hotels and restaurants) is 7% of private jobs, well below the Florida share.
Buying a home in Madison County
| 2026 loan limit, one unit | Amount |
|---|---|
| FHA | $541,287 |
| Conforming (above this is jumbo) | $832,750 |
FHA works at the median price here. FHA limits
Homes cost 2.4 times the median household income here, versus 4.8 statewide. That makes ownership easier to reach than in most of the state.
Loans made here in 2025
| Loan type | Loans | Share | Florida share | Average loan |
|---|---|---|---|---|
| Conventional | 127 | 61.1% | 72.2% | $156,811 |
| FHA | 45 | 21.6% | 17.8% | $197,444 |
| VA | 35 | 16.8% | 9.9% | $284,429 |
| USDA | 1 | 0.5% | 0.2% | $115,000 |
| Purpose | Share of 2025 loans |
|---|---|
| Home purchase | 56.7% |
| Cash out refinance | 18.8% |
| Rate and term refinance | 11.1% |
| Home improvement | 4.3% |
Total loans rose 6.1% from 2024 (196 to 208). FHA carries more weight here (21.6% of loans). VA lending is strong (16.8% of loans).
Loans that fit the local numbers
- Conventional: used for 61.1% of loans; mortgage insurance comes off later.
- FHA: lower scores and higher debt ratios allowed; limit $541,287.
- VA: veterans are 8.7% of adults (Florida 7.4%).
- USDA: zero down for eligible rural addresses; check each one on the USDA map.
Down payment help and taxes
Down payment help: use the statewide programs from the Florida Housing Finance Corporation. Owners paid a median $965 in property tax (0.83% of value). Homestead and tax caps
Investing in Madison County
DSCR loans often price above this rate. Method. DSCR loans
Run your own numbers
Long term rentals
| Madison County | vs Florida | |
|---|---|---|
| Renter occupied homes | 26.6% | -5.8 pts |
| Rent as share of renter income | 34.9% | -0.3 pts |
| Rental vacancy | 5% | -2.6 pts |
Few rentals sit empty.
Short term rentals
| Item | Here |
|---|---|
| County tourist tax | 5% |
| Plus state sales tax | 6% (plus any county surtax) |
| Homes held for seasonal use | 4% (-3.8 pts vs Florida) |
Before you underwrite nightly income, get the zoning and HOA answer in writing. State rules
Property types
| Housing stock | Share |
|---|---|
| Single family detached | 56.3% |
| Buildings with 5+ units | 4.5% |
| Manufactured homes | 33.9% |
| 2025 loans on 2 to 4 unit properties | 0.96% |
Largest cities and towns in Madison County
| Place | Population | Median value | Median rent | Median income |
|---|---|---|---|---|
| Madison | 2,967 | $78,500 | $887 | $30,673 |
| Greenville | 1,650 | $63,200 | $682 | $70,125 |
| Lee | 835 | $97,900 | $773 | $46,264 |
Census places, including unincorporated communities. Linked places have their own guide.
Compare with neighboring counties
2 of its 5 neighbors are cheaper by median value.
| County | Median value | Median rent | Growth since 2020 |
|---|---|---|---|
| Madison County | $116,200 | $874 | 4.4% |
| Hamilton County | $111,200 | $724 | 1.3% |
| Jefferson County | $232,600 | $898 | 10.3% |
| Lafayette County | $157,200 | $896 | 6.9% |
| Suwannee County | $171,600 | $884 | 10.8% |
| Taylor County | $114,600 | $988 | -2.7% |
Other Florida markets
Sources
- U.S. Census Bureau, American Community Survey 2020 to 2024 5 year estimates. 2020 to 2024.
- U.S. Census Bureau, Population Estimates, Vintage 2025. July 1, 2025.
- U.S. Census Bureau, Building Permits Survey, 2025 annual. 2025.
- FFIEC HMDA Data Browser, originated loans. 2025 and 2024.
- LendingTree: 2026 FHA loan limits in Florida by county (HUD figures). 2026.
- Florida Realtors: FHFA sets 2026 conforming loan limits. 2026.
- Florida Office of Economic and Demographic Research: 2026 local option tourist tax rates. 2026.
- Florida Office of Insurance Regulation, July 2026 Insurance Stability Unit report (average homeowners premium with wind, as of March 31, 2026). March 31, 2026.
- Freddie Mac Primary Mortgage Market Survey. week of October 22, 2026.
- Wikipedia: List of counties in Florida. checked October 2026.
- U.S. Census Bureau county adjacency file. 2024.
- Wikipedia county article and statewide lists (colleges, teams, airports); Florida Defense Support Task Force installation map. checked October 2026.
- Zillow Home Value Index (ZHVI), all homes, middle tier, smoothed and seasonally adjusted. September 2026.
- Federal Housing Finance Agency House Price Index (county annual, metro and state quarterly, all transactions). through Q2 2026.
- U.S. Census Bureau, Building Permits Survey, January to September 2026 and 2025. September 2026.
- FEMA OpenFEMA, NFIP Residential Penetration Rates. as of August 2026.
- FEMA OpenFEMA, FIMA NFIP Redacted Claims (2000 to 2026). as of September 2026.
- FEMA OpenFEMA, NFIP Community Status Book (Community Rating System class). August 2026.
- FEMA OpenFEMA, Disaster Declarations Summaries (2000 to 2026). October 2026.
- U.S. Census Bureau, County Business Patterns 2023. 2023.
- U.S. Census Bureau, ACS 2020 to 2024, median gross rent by bedrooms (B25031). 2020 to 2024.
- Hurricane landfalls: Wikipedia, List of Florida hurricanes (2000 to present). checked October 2026.
Estimates from public data; they change over time. General information, not investment, tax or legal advice, and not a loan offer. Methods and assumptions.