Madison is located close to the center of Virginia. Madison is part of Madison County. Madison has 0.21 square miles of land area and has no water area. As of 2010-2014, the total Madison population is 168, which has shrunk 20.00% since 2000. The population growth rate is much lower than the state average rate of 15.63% and is much lower than the national average rate of 11.61%. Madison median household income is $42,917 in 2010-2014 and has grown by 33.33% since 2000. The income growth rate is lower than the state average rate of 38.81% and is higher than the national average rate of 27.36%. Madison median house value is $272,500 in 2010-2014 and has grown by 98.18% since 2000. The house value growth rate is about the same as the state average rate of 94.18% and is much higher than the national average rate of 46.91%. As a reference, the national Consumer Price Index (CPI) inflation rate for the same period is 26.63%. On average, the public school district that covers Madison is close to the state average in quality. The Madison area code is 540.