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Madison borough, NJ
ZIP 07940 — Economy & Jobs
Source: U.S. Census Bureau ACS 2019–2023 5-Year Estimates. Page data updated 2026-08-02.
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Income, employment, industries, and economic trends
Income & Economy in Madison borough, NJ (07940)
Median Income
$168,520
*Adjusted for inflation (2023 dollars)
IRS Net Migration
+1,138
Wealth inflow
Population
17,675
Unemployment
6.8%
3.1pp above US avg
IRS migration statistics show a net inflow of about 1,138 for ZIP 07940 (Madison borough, NJ) on US5’s published series — a signal of people/tax filers moving in relative to those leaving. Inflows often track job growth, housing demand, or lifestyle migration; treat the figure as a directional indicator rather than a precise headcount.
Historical Trends in 07940 (2020–Present)
Since 2020, population declined 0.7%, median income fell 9.2% (inflation-adjusted), home values increased 1.3%.
Economy & Jobs key statistics
| Income & Jobs | |
|---|---|
| Median household income | $168,520 |
| Unemployment | 6.8% |
| Establishments | 527 |
| Employees | 13,267 |