Madison County, Kentucky: commercial real estate data.
Madison County, Kentucky has a population of 95,769 across 437 square miles, up 7.4 percent since the 2020 census base. County output reached $4.44 bn in 2024, 1,808 establishments operate here, and the SBA record carries 67 7(a) approvals worth $33.4 m.
118 sourced county values · tier FULL · 11 sections
Madison County
How many people live in Madison County
- Population95,769
- Households37,051
- Average household size2.58
- Median household income$63,351
- Median age34.7
- Median gross rent$889 per month
- Median owner-occupied home value$232,000
- Home value to household income3.7 times
- Annual rent as a share of median income16.8 percent
- Adults 25 and over with a bachelor degree or higher34.4 percent
- Adults 25 and over with a graduate degree14.1 percent
- Adults 25 and over60,118
- Population under 1820,145
- Share under 1821.0 percent
- Population 65 and over14,190
- Share 65 and over14.8 percent
- Working age population, 18 to 6461,434
- Civilian labor force49,293
- Unemployment rate5.1 percent
- Labor force participation, adults 18 and over65.2 percent
- Rank by population among Kentucky counties8th of 120
- Rank by population among US county-equivalents645th
Madison County is the 8th largest of 120 Kentucky counties by population. A median home costs 3.7 times median household income, which is an affordable ownership market by national standards. Residents under 18 outnumber those 65 and over, at 21.0 percent against 14.8 percent, a household formation profile rather than a retirement one.
US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
Madison County
Is Madison County growing
- Population change since the 2020 census base7.42 percent
- Census 2020 base population92,701
- Births, 20241,031
- Deaths, 2024939
- Natural change, 202492
- Net domestic migration, 20241,626
- Net international migration, 2024258
- Total net migration, 20241,884
- Cumulative net domestic migration, 2021 to 20245,658
- Rank by growth among US county-equivalents283rd
The county has grown 7.42 percent since the 2020 census base. Migration contributed more to 2024 change than births over deaths, so demand here follows people arriving rather than families forming.
US Census Bureau, Population Estimates Program, Vintage 2024, Vintage 2024, estimates 2020 to 2024.
Madison County
Where people moving to Madison County come from
- Tax returns filed by households arriving2,922
- People arriving, from those returns5,260
- Adjusted gross income arriving$158.6 m
- Net adjusted gross income movement$0
- Average income of an arriving household$54,272
- Largest single originMadison County Non-migrants (31,099 households)
- Largest single destination (31,099 households)
| Origin | Households | People | Adjusted gross income |
|---|---|---|---|
| Madison County Non-migrants | 31,099 | 64,393 | $2.15 bn |
| Other flows - Different State | 932 | 1,706 | $58.5 m |
| Fayette County | 598 | 1,087 | $34.1 m |
| Other flows - South | 438 | 788 | $26.6 m |
| Other flows - Same State | 417 | 717 | $21.0 m |
| Other flows - Midwest | 243 | 430 | $12.2 m |
| Other flows - West | 170 | 361 | $13.7 m |
| Clark County | 103 | 178 | $4.3 m |
The largest single source of arrivals is Madison County Non-migrants, which is the catchment a retail or multifamily study should look at first.
US Internal Revenue Service, Statistics of Income county migration flows, 2021 to 2022 filing years.
Madison County
What the Madison County economy runs on
- County GDP, 2024$4.44 bn
- County GDP, 2023$4.12 bn
- GDP change, 2023 to 20247.7 percent
- GDP change over five years44.3 percent
- Rank by GDP among Kentucky counties13th
- Rank by GDP among US county-equivalents762nd
- GDP per resident$46,322
Output grew 7.7 percent in the latest year and 44.3 percent over five, which is the trend line a lender will read behind any single year figure.
US Bureau of Economic Analysis, Regional, table CAGDP2, CAGDP2, through 2024.
Madison County
Who employs people in Madison County
- Covered employment, annual average36,909
- Establishments reporting3,101
- Average annual pay$53,794
- Average weekly wage$1,035
- Sector 31-33, employment4,911
- Sector 31-33, average annual pay$71,318
- Sector 44-45, employment4,827
- Sector 44-45, average annual pay$37,391
- Sector 62, employment4,662
- Sector 62, average annual pay$48,148
- Sector 72, employment4,134
- Sector 72, average annual pay$21,413
- Sector 54, employment2,348
- Sector 23, employment2,212
| Sector | Employment | Establishments | Average annual pay |
|---|---|---|---|
| Sector 31-33 | 4,911 | 119 | $71,318 |
| Sector 44-45 | 4,827 | 338 | $37,391 |
| Sector 62 | 4,662 | 440 | $48,148 |
| Sector 72 | 4,134 | 187 | $21,413 |
| Sector 54 | 2,348 | 495 | $102,428 |
| Sector 23 | 2,212 | 305 | $69,923 |
| Sector 56 | 1,934 | 223 | $44,564 |
| Sector 81 | 1,245 | 168 | $40,646 |
The largest sector is the biggest private employer group at 4,911 jobs, 13.3 percent of covered employment. Average pay per job sits below median household income, so households here typically need more than one earner.
US Bureau of Labor Statistics, Quarterly Census of Employment and Wages, 2024 annual averages.
Madison County
What businesses operate in Madison County
- Establishments, all industries1,808
- Employment at those establishments25,781
- Annual payroll$1.19 bn
- Establishments per 1,000 residents18.9
These are counts of establishments physically operating in the county, not listings, so they are the supply side a feasibility study measures demand against.
US Census Bureau, County Business Patterns, 2023.
Madison County
What is being built in Madison County
- Housing units authorised by permit, 2024816
- Declared construction value permitted$160.8 m
- Single family units authorised536
- Multifamily units authorised280
- Multifamily share of units34.3 percent
- Average declared value per unit$197,071
- Units authorised per 1,000 households22.0
Multifamily is 34.3 percent of units authorised, so the pipeline is predominantly for sale product.
US Census Bureau, Building Permits Survey, 2024 annual.
Madison County
How much SBA lending happens in Madison County
- 7(a) approvals recorded67
- 7(a) gross approval dollars$33.4 m
- Average 7(a) approval$498,881
- Median 7(a) approval$178,500
- 10th percentile approval$25,000
- 90th percentile approval$1,696,000
- Largest single approval$4,000,000
- Jobs reported supported, 7(a)872
- Jobs per approval13.0
- Distinct 7(a) lenders active25
- Distinct industries receiving approvals41
- Median 7(a) term120 months
- Share of loans on real estate terms, 240 months or longer17.9 percent
- Loans on real estate terms12
- Loans on working capital terms, 120 months or shorter51
- Franchise loans5
- Franchise share of approvals7.5 percent
- Leading industry by approval countHotels (except Casino Hotels) and Motels (4)
- Most active lenderU.S. Bank, National Association (15)
- 504 approvals recorded5
- 504 gross approval dollars$3.5 m
- Average 504 approval$704,600
- Median 504 approval$647,000
- Distinct CDCs active2
- 504 jobs per approval8.6
- 504 jobs per million dollars approved12.2
- Most active CDCAlloy Development Co., Inc. (3)
- 7(a) share of SBA approvals93.1 percent
- Combined SBA approval dollars$36.9 m
The average approval of $498,881 sits well above the median of $178,500, so a small number of large deals is pulling the mean up. The median is the better guide to what a typical borrower here actually gets. Only 17.9 percent of approvals run on real estate terms, so SBA credit here is mostly working capital and equipment rather than property acquisition.
US Small Business Administration, 7(a) FOIA release, FY2020 to FY2026 year to date, as of 2026-06-30. US Small Business Administration, 504 FOIA release, FY2010 to FY2026 year to date, as of 2026-06-30.
Madison County
Do SBA loans in Madison County get paid back
- Loans with a final outcome recorded6
- Paid in full5
- Charged off1
- Status: Exempt from disclosure45
- Status: Cancelled11
- Status: Paid in full5
- Status: Charged off1
- Status: Committed, not yet disbursed5
Too few loans have reached a final outcome to publish a charge off rate. only 6 resolved loans, too few to publish a rate. A rate computed on a handful of loans is noise, so none is shown.
US Small Business Administration, 7(a) FOIA release, FY2020 to FY2026 year to date, as of 2026-06-30.
Madison County
Which parts of Madison County get the lending
- Places in the county with recorded lending2
- RICHMOND, approvals55
- Berea, approvals12
| Place | Approvals | Gross approval dollars |
|---|---|---|
| RICHMOND | 55 | $27,594,000 |
| Berea | 12 | $5,831,000 |
RICHMOND accounts for 55 approvals against 12 in Berea. County level figures average over that gap, which is why a site decision is made at the submarket rather than the county.
US Small Business Administration, 7(a) FOIA release, FY2020 to FY2026 year to date, as of 2026-06-30.
Madison County
How big is Madison County
- Land area437 sq mi
- Rank by land area among Kentucky counties23rd of 120
- Width, east to west24.4 mi
- Height, north to south25.5 mi
- Geographies sharing a boundary7
- Residents per square mile of land219
- Establishments per square mile4.14
US Census Bureau county boundary geometry, TIGER, adjacency computed from shared boundary vertices, TIGER county boundaries. US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year. US Census Bureau, County Business Patterns, 2023.
Coverage
What this page does not hold.
Every item below could be filled with a plausible figure. None of them is. On a page a lender may read, a number that cannot be traced is worse than an absence, so the absences are named.
- No NFIP communities are listed for this county in the FEMA Community Status Book.
- Flood zone record counts are not held. The flood coverage export has not landed, so no count is shown rather than an estimated one.
- Traffic counts resolve in the platform, not in this dataset, so no AADT figure is printed here.
- Zoning is in build. Parcel level zoning is not published on this page.
Feasibility studies
When a Madison County site needs a document a lender will accept.
The same data layer behind this page is the one the studies are written from. A study for a Madison County site starts with the figures you are reading, carrying the same source and period into the credit file.
- Population95,769
- Households37,051
- Average household size2.58
- Median household income$63,351
- Median age34.7
Common questions
Madison County questions, answered from the record.
How many people live in Madison County, Kentucky?
95,769, in 37,051 households, ranking 8th of 120 Kentucky counties. Source: US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
Is Madison County growing?
The population has grown 7.42 percent since the 2020 census base. In 2024 there were 1,031 births against 939 deaths, with net migration of 1,884. Source: US Census Bureau, Population Estimates Program, Vintage 2024, Vintage 2024, estimates 2020 to 2024.
What is the median household income in Madison County?
$63,351. The median owner-occupied home is valued at $232,000, which is 3.7 times income, and median gross rent is $889 per month. Source: US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
How many businesses are there in Madison County?
1,808 establishments, employing 25,781 people with an annual payroll of $1.19 bn. These are establishments physically operating in the county, not listings. Source: US Census Bureau, County Business Patterns, 2023.
What is the average wage in Madison County?
Average annual pay is $53,794, or $1,035 a week, across 36,909 covered jobs. Source: US Bureau of Labor Statistics, Quarterly Census of Employment and Wages, 2024 annual averages.
How much SBA lending happens in Madison County?
67 7(a) approvals totalling $33.4 m since FY2020, across 25 lenders, with a median approval of $178,500, plus 5 504 approvals worth $3.5 m. These are approvals recorded in the release, not loans disbursed.
What is being built in Madison County?
816 housing units were authorised by permit in 2024, with a declared construction value of $160.8 m. Multifamily was 34.3 percent of units. Source: US Census Bureau, Building Permits Survey, 2024 annual.
What is the radon zone for Madison County?
Zone 2, a predicted average indoor radon screening level from 2 to 4 pCi/L. Source: US EPA, Map of Radon Zones, county spreadsheet, 2024-05 publication, EPA 402/A-16/001.
Where do people moving to Madison County come from?
The largest single origin is Madison County Non-migrants, with 31,099 households. Arriving households report an average income of $54,272 against null for those leaving. Source: US Internal Revenue Service, Statistics of Income county migration flows, 2021 to 2022 filing years.
Are traffic counts available for Madison County on this page?
No. Annual average daily traffic resolves in the platform rather than in this dataset, so no AADT figure is printed here. It is a gap we know about rather than a figure we estimated.
Is zoning published for Madison County?
Not yet. The zoning layer is in build. Nothing on this page presents parcel level zoning, and where a statutory framework applies it is marked as the statewide frame with confirm locally attached.