HomeNorth CarolinaMadison County
Madison County, North Carolina: commercial real estate data.
Madison County, North Carolina has a population of 21,867 across 450 square miles, up 5.4 percent since the 2020 census base. County output reached $632.1 m in 2024, 402 establishments operate here, and the SBA record carries 22 7(a) approvals worth $14.9 m.
123 sourced county values · tier FULL · 12 sections
Madison County
How many people live in Madison County
- Population21,867
- Households8,342
- Average household size2.62
- Median household income$58,531
- Median age44.5
- Median gross rent$780 per month
- Median owner-occupied home value$284,600
- Home value to household income4.9 times
- Annual rent as a share of median income16.0 percent
- Adults 25 and over with a bachelor degree or higher32.2 percent
- Adults 25 and over with a graduate degree11.1 percent
- Adults 25 and over15,946
- Population under 183,773
- Share under 1817.3 percent
- Population 65 and over5,079
- Share 65 and over23.2 percent
- Working age population, 18 to 6413,015
- Civilian labor force10,403
- Unemployment rate3.1 percent
- Labor force participation, adults 18 and over57.5 percent
- Rank by population among North Carolina counties77th of 100
- Rank by population among US county-equivalents1780th
Madison County is the 77th largest of 100 North Carolina counties by population. A median home costs 4.9 times median household income, which is an affordable ownership market by national standards. Residents 65 and over outnumber those under 18, at 23.2 percent against 17.3 percent, which points demand at health care, services and single storey product rather than schools.
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 base5.44 percent
- Census 2020 base population21,198
- Births, 2024176
- Deaths, 2024331
- Natural change, 2024-155
- Net domestic migration, 2024443
- Net international migration, 202424
- Total net migration, 2024467
- Cumulative net domestic migration, 2021 to 20241,482
- Rank by growth among US county-equivalents478th
The county has grown 5.44 percent since the 2020 census base. Deaths exceeded births in 2024, so all of the growth came from people moving in. A market held up by migration alone is more sensitive to a change in relative cost than one growing from household formation.
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 arriving724
- People arriving, from those returns1,223
- Adjusted gross income arriving$52.5 m
- Net adjusted gross income movement$0
- Average income of an arriving household$72,557
- Largest single originMadison County Non-migrants (7,660 households)
- Largest single destination (7,660 households)
| Origin | Households | People | Adjusted gross income |
|---|---|---|---|
| Madison County Non-migrants | 7,660 | 14,910 | $457.6 m |
| Buncombe County | 306 | 541 | $18.0 m |
| Other flows - Different State | 271 | 428 | $26.6 m |
| Other flows - South | 173 | 274 | $14.3 m |
| Other flows - Same State | 147 | 254 | $8.0 m |
| Other flows - West | 46 | 71 | $6.8 m |
| Other flows - Northeast | 26 | 43 | $2.9 m |
| Other flows - Midwest | 26 | 40 | $2.5 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$632.1 m
- County GDP, 2023$573.4 m
- GDP change, 2023 to 202410.2 percent
- GDP change over five years47.2 percent
- Rank by GDP among North Carolina counties85th
- Rank by GDP among US county-equivalents2235th
- GDP per resident$28,908
Output grew 10.2 percent in the latest year and 47.2 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 average4,310
- Establishments reporting576
- Average annual pay$47,583
- Average weekly wage$915
- Sector 44-45, employment524
- Sector 44-45, average annual pay$24,659
- Sector 31-33, employment487
- Sector 31-33, average annual pay$70,681
- Sector 72, employment370
- Sector 72, average annual pay$22,907
- Sector 23, employment304
- Sector 23, average annual pay$55,491
- Sector 81, employment144
- Sector 71, employment126
| Sector | Employment | Establishments | Average annual pay |
|---|---|---|---|
| Sector 44-45 | 524 | 57 | $24,659 |
| Sector 31-33 | 487 | 16 | $70,681 |
| Sector 72 | 370 | 43 | $22,907 |
| Sector 23 | 304 | 85 | $55,491 |
| Sector 81 | 144 | 50 | $39,107 |
| Sector 71 | 126 | 15 | $23,848 |
| Sector 48-49 | 60 | 16 | $65,923 |
| Sector 52 | 44 | 15 | $62,652 |
The largest sector is the biggest private employer group at 524 jobs, 12.2 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 industries402
- Employment at those establishments3,298
- Annual payroll$136.9 m
- Establishments per 1,000 residents18.4
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, 2024155
- Declared construction value permitted$43.9 m
- Single family units authorised151
- Multifamily units authorised4
- Multifamily share of units2.6 percent
- Average declared value per unit$283,451
- Units authorised per 1,000 households18.6
Multifamily is 2.6 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 recorded22
- 7(a) gross approval dollars$14.9 m
- Average 7(a) approval$676,414
- Median 7(a) approval$274,600
- 10th percentile approval$48,600
- 90th percentile approval$2,315,000
- Largest single approval$2,830,000
- Jobs reported supported, 7(a)311
- Jobs per approval14.1
- Distinct 7(a) lenders active12
- Distinct industries receiving approvals19
- Median 7(a) term120 months
- Share of loans on real estate terms, 240 months or longer27.3 percent
- Loans on real estate terms6
- Loans on working capital terms, 120 months or shorter15
- Franchise loans0
- Franchise share of approvals0.0 percent
- Leading industry by approval countHighway, Street, and Bridge Construction (3)
- Most active lenderNewtek Bank, National Association (4)
- 504 approvals recorded2
- 504 gross approval dollars$1.0 m
- Average 504 approval$521,000
- Median 504 approval$659,000
- Distinct CDCs active2
- 504 jobs per approval3.5
- 504 jobs per million dollars approved6.7
- Most active CDCAppalachian Development Corporation (1)
- 7(a) share of SBA approvals91.7 percent
- Combined SBA approval dollars$15.9 m
The average approval of $676,414 sits well above the median of $274,600, 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 27.3 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 recorded4
- Paid in full4
- Charged off0
- Status: Cancelled6
- Status: Paid in full4
- Status: Exempt from disclosure11
- Status: Committed, not yet disbursed1
Too few loans have reached a final outcome to publish a charge off rate. only 4 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 lending3
- MARS HILL, approvals10
- Marshall, approvals9
- HOT SPRINGS, approvals3
| Place | Approvals | Gross approval dollars |
|---|---|---|
| MARS HILL | 10 | $2,483,200 |
| Marshall | 9 | $10,155,900 |
| HOT SPRINGS | 3 | $2,242,000 |
MARS HILL accounts for 10 approvals against 9 in Marshall. 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 area450 sq mi
- Rank by land area among North Carolina counties53rd of 100
- Width, east to west31.1 mi
- Height, north to south26.8 mi
- Geographies sharing a boundary3
- Residents per square mile of land49
- Establishments per square mile0.89
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.
Madison County
What hazards affect Madison County
- EPA radon zone predicted average indoor radon screening level from 2 to 4 pCi/LZone 2
- Communities in the NFIP Community Status Book4
- Of those, participating in the NFIP4
- NFIP participation rate100.0 percent
- Communities carrying a CRS class0
The EPA places the county in radon zone 2, a predicted average indoor radon screening level from 2 to 4 pCi/L.
US EPA, Map of Radon Zones, county spreadsheet, 2024-05 publication, EPA 402/A-16/001. FEMA OpenFEMA, NFIP Community Status Book, Community Status Book, as retrieved.
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.
- 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.
- Population21,867
- Households8,342
- Average household size2.62
- Median household income$58,531
- Median age44.5
Common questions
Madison County questions, answered from the record.
How many people live in Madison County, North Carolina?
21,867, in 8,342 households, ranking 77th of 100 North Carolina counties. Source: US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
Is Madison County growing?
The population has grown 5.44 percent since the 2020 census base. In 2024 there were 176 births against 331 deaths, with net migration of 467. Source: US Census Bureau, Population Estimates Program, Vintage 2024, Vintage 2024, estimates 2020 to 2024.
What is the median household income in Madison County?
$58,531. The median owner-occupied home is valued at $284,600, which is 4.9 times income, and median gross rent is $780 per month. Source: US Census Bureau, American Community Survey 5-Year Estimates, 2020-2024 5-year.
How many businesses are there in Madison County?
402 establishments, employing 3,298 people with an annual payroll of $136.9 m. 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 $47,583, or $915 a week, across 4,310 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?
22 7(a) approvals totalling $14.9 m since FY2020, across 12 lenders, with a median approval of $274,600, plus 2 504 approvals worth $1.0 m. These are approvals recorded in the release, not loans disbursed.
What is being built in Madison County?
155 housing units were authorised by permit in 2024, with a declared construction value of $43.9 m. Multifamily was 2.6 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 7,660 households. Arriving households report an average income of $72,557 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.