Madison's Aging Population, Decreasing School Age Population Discussed

The Madison Economic Development Commission met last month and a demographics and population presentation was held.

The full presentation can be read below, but what stands out is the median age in Madison is almost 10 years older than the national median age.

Additionally, from 2000 to 2025 Madison’s student population is projected to decrease by a staggering 2,200 students.

In the information below, officials discuss, finding ways to attract more young people to Madison including offering more rental housing.

Read below for the full report via, meeting minutes of the Economic Development Commission.

Demographics and population presentation. Mr. Gus Horvath and Mr. Dave Anderson, who is the Town Planner, were present to do a presentation on demographics and population and possible impacts on housing characteristics and economic development.

Mr. Horvath noted that in the past he has participated in studies for the schools so he was approached to review demographic data to review trends for seniors and families. This data can assist the Town in looking at how to encourage new housing development to meet the changing needs of the Town.

Mr. Horvath reviewed data that showed the projected decline in the total population from the years 2000 to 2025 due to the trend for more deaths than births per year. The median age in Madison is 46.6 compared to the national median age of 37.3 and State median age of 41. Mr. Horvath then reviewed statistics that showed a projected decline in pre-school and school age population from 5300 in 2000 to 3100 in 2025.

Mr. Horvath reviewed the impact on housing of the changes in demographics in Town by reviewing data on household size and the age of head of households from 2000 to 2010. Madison has a total of 7,771 housing units and 3 – 4 bedroom units are 80% of the housing stock.

The demographic trend is for 1 – 2 people per household so this will require a shift in housing stock. Mr. Horvath reviewed household income noting that Madison’s median income is $110,761.

The standard for housing is that no more than 30% of income should go for housing costs. He reviewed the standards for housing to be considered affordable noting that in Madison a one bedroom unit would be considered affordable at $155,000 and a two bedroom would be considered affordable at $268,000.

He explained how the program provides for developers of an affordable housing development to sell some units above market to make up for the lower cost of the affordable units.

Mr. Anderson reviewed questions that have been raised as a result of information gathered to include:

1. Will the changing demographics have an impact on economic development
2. Can our economic development efforts help mitigate the projected loss of young professional and young families.
3. What types of businesses can Madison attract to encourage young families to move to Madison.
4. How will the changing demographics impact the housing market.
5. How can we encourage new housing development and or redevelopment to meet the needs of the new demographics.

These questions can be used to continue discussion on these important issues.

Mr. Anderson and Mr. Horvath both agreed it is good for the Town include residents of mixed age so with the changing demographics it will be important to take steps to encourage young people to move to or remain in Madison.

One way to encourage young people is to provide for more rental units so people will come to Madison and hopefully want to stay in town when it is time to purchase a home.

In response to a question by Ms. Foley, Mr. Anderson noted that there have been instances where changes in the zoning regulations were made to encourage activities that were seen as beneficial for the Town.

Mr. Horvath commented that the EDC should also look at encouraging businesses that will complement the changing demographics.

Mr. Perrelli suggested that focus be made on things like good schools, jobs, and businesses that will make Madison an environment where people want to live and raise a family.

Mr. James Bushong Jr. commented that when he recently moved to Madison he was surprised at the number of people who questioned why he chose Madison primarily due to the high taxes. He believes it is important to work to create jobs in Town and as an entrepreneur he would be willing to help in any way to encourage economic development.