Madison vs New Providence, NJ
Property taxes, schools, NJ Transit pass and monthly cost for Madison and New Providence, side by side with sources.
At a glance
Madison has the lower 2025 average residential tax bill: $15,897 a year, $334 less than $16,231 in New Providence. Both are above the NJ average of $10,340.
The median single-family sale price is $948,500 in New Providence and $1,421,000 in Madison, $472,500 more (GSMLS, 2025 closed sales).
On the site's monthly cost estimate (mortgage, property tax and NJ Transit pass, each on the town's median single-family sale price), New Providence comes to $7,153 a month and Madison to $9,973, a gap of $2,820.
Peak commute is 51 minutes in Madison and 48 in New Providence, 3 minutes shorter in New Providence; the NJ Transit monthly pass to NY Penn is $362 in New Providence and $408 in Madison, $46 more.
Figures are from the data file, version 2.3.0. Estimates are labeled. Add a third town in the compare tool.
Monthly cost
Estimated monthly cost Estimate
- Mortgage (principal and interest)
- Property tax
- NJ Transit pass
- Madison$9,973 / monthMortgage $7,747 · Property tax $1,818 · NJ Transit pass $408 · on a $1,421,000 median single-family home
- New Providence$7,153 / monthMortgage $5,171 · Property tax $1,620 · NJ Transit pass $362 · on a $948,500 median single-family home
Each town uses its own median single-family sale price (GSMLS, 2025 closed sales) and 2025 effective tax rate. Mortgage is the monthly mortgage in the data: Principal & interest only; excludes taxes and insurance. Calculated at a 7.24% 30-year fixed rate, 20% down, 30-year term. Excludes insurance, utilities, maintenance and HOA fees. Change the numbers in the calculator.
Home prices
Median sale price, single-family
- Madison$1,421,000105 sales
- New Providence$948,500100 sales
Median sale price, condo / townhouse
- Madison$810,00023 sales · fewer than 50 sales
- New Providence$799,00013 sales · fewer than 50 sales
Monthly mortgage
- Madison$7,747 / month
- New Providence$5,171 / month
Principal & interest only; excludes taxes and insurance. Based on the single-family median.
Source: GSMLS, 2025 closed sales
Property taxes
Average residential tax bill, 2025
- Madison$15,897 / year$5,557 above the NJ average
- New Providence$16,231 / year$5,891 above the NJ average
- NJ average$10,340 / yearState total, same series as the town bills
Bills compare better than raw tax rates, because towns assess homes at different shares of market value.
Schools
Meeting ELA standards
- Madison78.8% Above NJ average
- New Providence84.7% Above NJ average
- NJ state53.0%
Meeting math standards
- Madison70.0% Above NJ average
- New Providence79.4% Above NJ average
- NJ state42.0%
4-year graduation rate
- Madison97.9% Above NJ average
- New Providence96.4% Above NJ average
- NJ state91.8%
Chronic absenteeism
- Madison9.2% Below NJ average
- New Providence4.0% Below NJ average
- NJ state14.4%
Student:teacher ratio
- Madison11:1
- New Providence10:1
- NJ state12:1
Commute
NJ Transit adult monthly pass to NY Penn
- Madison$408 / month
- New Providence$362 / month
Peak commute time
- Madison51 min
- New Providence48 min
Full pages: Madison · New Providence. Find a local expert if you want help weighing these two towns.