Real estate · Small-town market · Indiana
Real estate businesses in the Madison, IN area
How the Madison, IN area compares with other small-town markets and the U.S. for real estate businesses: competitors, household spending, official counts and growth.
Groundwork market score · out of 100
Score 46 out of 100: Lower middle
Ranked #304 of 536 scored small-town markets
#17 of 25 scored small-town markets based in Indiana
- Listings
- 24
- 0 chain locations (0%)
- Official establishments
- 13
- Businesses with payroll, 2023
- Household spending a year
- $167.9M
- On rent and homeowner costs · $13,125 a household
- Housing spending per listing (U.S. = 100)
- 161
- 61% above the U.S.
- Listings per 10k households
- 18.8
- 51% below the U.S.
- Population, 2025
- 33,279
- +0.6% since 2020
See the real estate businesses around any address in the Madison area
The site report maps the real estate businesses on map listings near the address, by name and distance, and sizes the households and spending around it. Or open the report at the center of the Madison area. Signed out, you see a blurred preview; on an account, each report is one action.
Free10 actions over 3 days, no cardSurvey estimates 2020–2024 · population estimates 2025 · official business counts 2023 · map listings September 2026 · Data credits · How we measure
What this means
Household spending on rent and homeowner costs in the Madison area comes to about $167.9M a year: $13,125 per household, 21% below the U.S. average. Housing spending per office is 61% above the U.S. figure. The spending figure is all rent and homeowner costs, a measure of housing demand, not money real estate businesses take in.
There are 24 real estate businesses on map listings in the Madison area as of September 2026. None of them are chain locations, against 6% across the U.S. That is 18.8 per 10,000 households, 51% below the U.S. rate of 38.5.
In 2023, official counts showed 13 businesses with payroll in the Madison area classed as real estate agents, property managers, mortgage lenders and inspectors. That is one for every 984 households, against one for every 414 across the U.S. Official counts also show 89 one-person businesses without payroll.
Population estimates put the population change in the Madison area from 2020 to 2025 at +0.6%, slower than the U.S. (+3.1%). The Groundwork market score for real estate businesses in the Madison area is 46 (lower middle), #304 of 536 scored small-town markets and #17 of 25 scored small-town markets based in Indiana.
How the Madison area compares
The same measures for Indiana and the whole U.S. Housing spending per listing divides all rent and homeowner costs by the listings counted: a measure of housing demand for each business, not money any of them take in, so it is shown against the U.S. (100) only. Households per establishment divides households by the official count.
| Measure | Madison area | Indiana | U.S. |
|---|---|---|---|
| Listings per 10k households | 18.8 | 28.4 | 38.5 |
| Housing spending per listing (U.S. = 100) | 161 | 112 | 100 |
| Households per official establishment | 984 | 589 | 414 |
| Official establishment growth, 2019–2023 | n/a | +17.5% | +15.8% |
| Population growth, 2020–2025 | +0.6% | +2.7% | +3.1% |
| Spending per household on rent and homeowner costs | $13,125 | $13,818 | $16,661 |
| Median household income | $64,577 | $71,957 | $80,734 |
| Groundwork market score | 46 | 51 |
Official counts and lending
Businesses
- Official establishments, 2019 to 2023
- 13
- Employees, 2023
- 28
- Annual payroll, 2023
- $879K
- One-person businesses, 2023
- 89Businesses with no payroll
- Map listings, September 2026
- 240 chain locations
- Listings at the U.S. rate for this spending
- 39The U.S. ratio of listings to household spending, applied here
SBA-backed loans since fiscal 2022
- Loans
- 0
- Amount
- $0
SBA-backed loans to businesses classed as real estate agents, property managers, mortgage lenders and inspectors in the Madison area, through June 2026, placed by the borrower’s ZIP code. Official establishments are businesses with payroll; the official counts leave out places with fewer than 3.
Population and households in the Madison area
- Population, 2025 estimate
- 33,279+0.6% since 2020
- Households
- 12,790
- Median age
- 41.5
- Homes lived in by their owners
- 72%
- Vehicles per household
- 2.1
- Land area
- 361 sq. mi.
- People per square mile
- 91
- Median household income
- $64,577+22.5% vs. 2015–2019, before inflation
- Average household income
- $82,160
- Median home value
- $194,600
- Jobs located here
- 12,163
- Daytime population
- 31,641Residents who don’t work, plus everyone whose job is here
Looking at a specific site in the Madison area?
These figures cover the whole small-town market. A site report draws rings around one address and counts what’s inside them: households, spending, jobs, and the real estate businesses on map listings by name and distance.
Or open the report at the center of the Madison area. Signed out, you see a blurred preview; on an account, each report is one action.
Free10 actions over 3 days, no cardReal estate across Indiana
Every Indiana market ranked →The highest-scoring small-town markets in Indiana for real estate businesses, numbered among those based in Indiana, with the Madison area marked.
Top small-town markets in Indiana
| Market | Score | Listings | Per 10k households | Housing spending per listing (U.S. = 100) | Population growth | U.S. rank |
|---|---|---|---|---|---|---|
| 1Washington, IN | 75 | 16 | 13.5 | 227 | +2.5% | #30 of 536 |
| 2Frankfort, IN | 71 | 14 | 11.2 | 271 | +0.4% | #44 of 536 |
| 3Crawfordsville, IN | 62 | 25 | 16.0 | 195 | +2.7% | #113 of 536 |
| 4Logansport, IN | 59 | 23 | 15.3 | 189 | +0.1% | #143 of 536 |
| 5Kendallville, IN | 58 | 30 | 16.5 | 188 | +1.0% | #150 of 536 |
| 6Huntington, IN | 56 | 24 | 15.6 | 196 | +1.6% | #177 of 536 |
| 7Auburn, IN | 56 | 33 | 19.3 | 162 | +2.9% | #181 of 536 |
| 8Seymour, IN | 55 | 37 | 20.4 | 153 | +1.9% | #197 of 536 |
| 9Connersville, IN | 52 | 13 | 13.8 | 211 | +0.7% | #237 of 536 |
| 10Monticello, IN | 52 | 20 | 19.5 | 157 | +2.0% | #245 of 536 |
| 17Madison, IN | 46 | 24 | 18.8 | 161 | +0.6% | #304 of 536 |
Other business types in the Madison area
Each with its Groundwork market score here, out of 100, where it has one.
Food and drink
Groceries and convenience
Auto
Beauty and personal care
Fitness and classes
Health care
Child care
Clothing and laundry
Home services
Real estate
Funeral services
Questions
How many real estate businesses are in the Madison, IN area?
As of September 2026, map listings count 24 real estate businesses in the Madison area. None of them are chain locations. The listings count real estate agents and brokers, property managers, mortgage brokers and lenders, and home inspectors. Official counts show 13 businesses with payroll classed as real estate agents, property managers, mortgage lenders and inspectors in 2023. Another 89 one-person businesses have no payroll, by official counts.
How much do households in the Madison, IN area spend on rent and homeowner costs?
About $167.9M a year, or $13,125 per household. That is 21% below the U.S. average (an index of 79, where 100 is the U.S. average). For the 24 real estate businesses on map listings, housing spending per office is 61% above the U.S. figure. That figure is all rent and homeowner costs, used as a measure of housing demand; it is not money real estate businesses take in. It is estimated from the incomes of the 12,790 households in the Madison area and national spending patterns by income.
How does the Madison, IN area compare with the U.S. for real estate businesses?
The Madison area has 18.8 real estate businesses per 10,000 households, 51% below the U.S. rate of 38.5. The index of housing spending per office is 161, where 100 is the U.S. At the U.S. ratio of real estate businesses to household spending, the Madison area would have about 39, against 24 on map listings. There is one business with payroll in the industry for every 984 households, against one for every 414 across the U.S.
How fast is the Madison, IN area growing?
Population estimates put the Madison area at 33,279 people in 2025, up 0.6% since 2020, slower than the U.S. (+3.1%). It has 12,790 households. Median household income in the Madison area is $64,577, 20% below the U.S. median of $80,734. Against the 2015–2019 survey, the median rose 22.5%, before inflation.
What is the Groundwork market score?
The Groundwork market score runs from 0 to 100 and compares a market with others of its kind for one business type: states with states, metro areas with metro areas, small-town markets and counties with their own. A small-town market is a town of 10,000 to 50,000 people and the county or counties tied to it by commuting. It weighs household spending per competitor (35%), households per business with payroll (25%), population growth (20%) and spending power (20%), each ranked against those peers. A higher score means that, taken together, the market has more household spending and more households for each business already there, faster population growth and more spending per household than similar markets. It describes a market, not any one site or deal. The Madison area scores 46 for real estate businesses (lower middle), #304 of 536 scored small-town markets.
How can I see the market around a specific site?
Run a Groundwork site report on an address in the Madison area. It maps the real estate businesses on map listings near the site and sizes the households and spending within the distance you choose. New accounts get 10 actions over 3 days, no card.
How the score works · Top markets for real estate businesses · All 56 business types in the Madison area
Screening a site or an acquisition in the Madison area?
A site report maps the competitors on map listings near an address and sizes the households and spending around it.
The button opens the report at the center of the Madison area. Signed out, you see a blurred preview; on an account, each report is one action.
This product uses the Census Bureau Data API but is not endorsed or certified by the Census Bureau.
Figures are estimates for research only. Not investment or real estate advice.