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Madison Lake, MN Profile: Facts & Data

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Madison Lake, Minnesota - Basic Facts

The City of Madison Lake had a population of 1,269 as of July 1, 2023.

The primary coordinate point for Madison Lake is located at latitude 44.2044 and longitude -93.8155 in Blue Earth County. The formal boundaries for the City of Madison Lake encompass a land area of 1.03 sq. miles and a water area of 0.01 sq. miles. Blue Earth County is in the Central time zone (GMT -6).

The City of Madison Lake has a C5 Census Class Code which indicates an active incorporated place that is independent of any county subdivision and serves as a county subdivision equivalent. It also has a Functional Status Code of "A" which identifies an active government providing primary general-purpose functions.


Jump to... (On This Page!)
  1. Madison Lake 2023 Demographic Data
  2. Growth Rates for Madison Lake (Historical & 5-Year Forecast)
  3. Peer Comparisons (Rank and Percentile)
  1. Neighborhoods Demographics (Home Values, Household Income, etc.)
  2. Minnesota Research Tools (Easy Tools & Current Data)
  3. Minnesota Data Comparison Tool - 2023 Demographics
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Madison Lake, MN Data & Demographics (As of July 1, 2023)

POPULATION

Total Population 1,269 (100%)
Population in Households 1,269 (100.0%)
Population in Families 1,043 (82.2%)
Population in Group Quarters1 0
Population Density 938
Diversity Index2 15
 
 

INCOME

Median Household Income $100,110
Average Household Income $118,909
% of Income for Mortgage4 25%
Per Capita Income $48,445
Wealth Index5 114
Socioeconomic Status Index6 Moderate (62.0)
 

HOUSING

Total HU (Housing Units) 658 (100%)
Owner Occupied HU 421 (64.0%)
Renter Occupied HU 96 (14.6%)
Vacant Housing Units 141 (21.4%)
Median Home Value $420,732
Average Home Value $467,102
Housing Affordability Index3 94
 

HOUSEHOLDS

Total Households 517
Average Household Size 2.45
Family Households 356
Average Family Size 3.00
NOTES
  1. Group Quarters - a place where people live or stay in a group living arrangement. Includes college residents halls, nursing facilities, military barracks, and correctional facilities.
  2. The Diversity Index is a scale of 0 to 100 that represents the likelihood that two persons, chosen at random from the same area, belong to different races or ethnic groups. If an area's entire population belongs to one race AND one ethnic group, then the area has zero diversity. An area's diversity index increases to 100 when the population is evenly divided into two or more race/ethnic groups.
  3. The Housing Affordability Index base is 100 and represents a balance point where a resident with a median household income can normally qualify to purchase a median price home. Values above 100 indicate increased affordability, while values below 100 indicate decreased affordability.
  4. The % of Income for Mortgage quantifies the percentage of median household income dedicated to mortgage payments on a home priced at the median value (assuming a 30-year mortgage and a 20% down payment).
  5. The Wealth Index is based on a number of indicators of affluence including average household income and average net worth, but it also includes the value of material possessions and resources. It represents the wealth of the area relative to the national level. Values above or below 100 represent above-average wealth or below-average wealth compared to the national level.
  6. The Socioeconomic Index ranges from zero (lowest relative status) to 100 (highest relative status). This measure quantifies disparities in social position of an area's inhabitants and is built from a broad range of demographic, housing, and socioeconomic inputs. More information on this measure can be found in Esri's SEI tutorial.

GROWTH RATE / YEAR

 2020-2023 2023-2028
Population 0.54% 0.06%
Households 1.16% 0.19%
Families   0.11%
Median Household Income   3.03%
Per Capita Income   2.92%
Owner Occupied HU   0.79%

Madison Lake, MN - Peer Comparisons by Rank and Percentile

The table below compares Madison Lake to the other 914 incorporated cities, towns and CDPs in Minnesota by rank and percentile using July 1, 2023 data. The location Ranked # 1 has the highest value. A location that ranks higher than 75% of its peers would be in the 75th percentile of the peer group.

Variable Description Rank Percentile
Total Population # 329 64th
Population Density # 297 68th
Median Household Income # 108 88th
Housing Affordability Index # 299 33rd
Per Capita Income # 165 82nd
Diversity Index # 668 27th

Additional comparisons and rankings can be made with a VERY EASY TO USE Minnesota Census Data Comparison Tool.

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