Madison County, IN
Housing, jobs, water, deposits and federal obligations for this county, each figure with the release it came from. Internal point 40.17, -85.72.
Assembled 2026-10-20. Read the brief.
- 33rd pct · 2,047th of 3,063 US counties · median $230,451
- 18th pct · 75th of 92 Indiana counties · median $230,095
- 0th pct · 11th of 11 counties in the Indianapolis-Carmel-Greenwood metro · median $312,876
- 50th pct · 1,513th of 3,062 US counties · median +2.9%
- 31st pct · 63rd of 92 Indiana counties · median +4.2%
- 80th pct · 3rd of 11 counties in the Indianapolis-Carmel-Greenwood metro · median +2.0%
- 15th pct · 1,150th of 1,358 US counties · median $1,506
- 44th pct · 25th of 44 Indiana counties · median $1,207
- 12th pct · 8th of 9 counties in the Indianapolis-Carmel-Greenwood metro · median $1,597
- 81st pct · 608th of 3,221 US counties · median 8,232
- 81st pct · 18th of 92 Indiana counties · median 12,958
- 50th pct · 6th of 11 counties in the Indianapolis-Carmel-Greenwood metro · median 39,851
- 39th pct · 1,945th of 3,221 US counties · median $1,039
- 29th pct · 65th of 92 Indiana counties · median $1,045
- 10th pct · 10th of 11 counties in the Indianapolis-Carmel-Greenwood metro · median $1,134
- 36th pct · 1,941st of 3,063 US counties · median 4.2
- 28th pct · 66th of 92 Indiana counties · median 4.1
- 10th pct · 10th of 11 counties in the Indianapolis-Carmel-Greenwood metro · median 5.5
Typical home value divided by the average annual wage of one covered job.
A percentile here is a min-max scaling of average rank: the smallest published value in the cohort is 0 and the largest is 100, and tied values share the average of the ranks they span. It is not the share of entities below the value, so 0 means smallest, not none below. Entities that did not publish the metric are outside the cohort entirely and are counted in neither the rank nor its denominator.
Home values #
Typical home $187,876 (Sep 2026), +2.9% over one year, +34.5% over five
- 33rd pct · 2,047th of 3,063 US counties · median $230,451
- 18th pct · 75th of 92 Indiana counties · median $230,095
- 0th pct · 11th of 11 counties in the Indianapolis-Carmel-Greenwood metro · median $312,876
| Item | Value | Distance |
|---|---|---|
| Madison County, IN | $187,876 · +2.9% 1-yr |
Zillow Home Value Index (ZHVI), typical value of homes in the 35th to 65th percentile, smoothed and seasonally adjusted; a model estimate of value, not a sale price. Data through Zillow Research.
Rents #
Typical rent $1,113/mo (Sep 2026), +2.2% over one year; price-to-rent 14.1
- 15th pct · 1,150th of 1,358 US counties · median $1,506
- 44th pct · 25th of 44 Indiana counties · median $1,207
- 12th pct · 8th of 9 counties in the Indianapolis-Carmel-Greenwood metro · median $1,597
| Item | Value | Distance |
|---|---|---|
| Madison County, IN | $1,113/mo · +2.2% 1-yr |
Zillow Observed Rent Index (ZORI), smoothed, all homes and multifamily; price-to-rent = typical home / (typical rent × 12).
What the typical home costs to carry #
Principal and interest of $1,041 a month on $187,876 at 7.40%, against an average weekly wage worth $4,303 a month: 24.2% of one job’s pay.
- payment = P·r / (1 − (1+r)^−n), P = $187,876 × 80% = $150,300, r = 7.40%/12 (Freddie Mac PMMS via FRED, 2026-10-15), n = 360 → $1,041/mo principal and interest
- wage share = payment / (avg weekly wage $993 × 52 / 12 = $4,303) = 24% of one average job's pay (BLS QCEW 2026 Q1, all covered jobs)
- years of wages = $187,876 / ($993 × 52) = 3.6
- price-to-rent = $187,876 / ($1,113 × 12) = 14.1
The wage is one covered job’s average, not a household’s income, so this is the share of a single paycheque and not a mortgage underwriting ratio.
Estimate. Principal and interest on the typical home with 20% down over 30 years at this week's Freddie Mac average rate; compared with the average weekly wage of all jobs covered by unemployment insurance in the area (BLS QCEW), which is pay per job, not household income.
Jobs & wages #
39,851 jobs at 2,606 employers (2026 Q1); -0.6% jobs and +3.8% average weekly wage over the year
- 81st pct · 608th of 3,221 US counties · median 8,232
- 81st pct · 18th of 92 Indiana counties · median 12,958
- 50th pct · 6th of 11 counties in the Indianapolis-Carmel-Greenwood metro · median 39,851
| Item | Value | Distance |
|---|---|---|
| Madison County, IN | 39,851 jobs · $993/wk · -0.6% YoY |
| NAICS sector | Jobs | Avg weekly wage | Location quotient | Jobs over the year |
|---|---|---|---|---|
| Health care and social assistance | 6,875 | $1,043 | 1.15 | +1.7% |
| Manufacturing | 5,181 | $1,346 | 1.62 | -3.3% |
| Retail trade | 4,529 | $636 | 1.17 | +1.5% |
| Accommodation and food services | 4,349 | $414 | 1.21 | -1.0% |
| Transportation and warehousing | 1,970 | $1,106 | 1.17 | -4.6% |
| Construction | 1,858 | $1,280 | 0.89 | +9.7% |
| Administrative and waste services | 1,587 | $743 | 0.70 | -3.3% |
| Other services | 1,166 | $696 | 0.98 | -0.3% |
| Finance and insurance | 1,163 | $1,696 | 0.72 | -0.3% |
| Wholesale trade | 1,043 | $1,822 | 0.68 | -2.9% |
| Arts, entertainment and recreation | 1,043 | $734 | 1.59 | -1.9% |
| Educational services | 982 | $508 | 1.15 | -7.1% |
BLS Quarterly Census of Employment and Wages, all ownerships, total covered employment in the quarter's third month; over-the-year changes as published. Suppressed cells stay blank.
Drought #
No drought class at this point (USDM covers the United States only)
Sites found: 5, searched within 0 km of this place’s internal point. That is a disc around a point, not the area itself: sites outside the boundary are included, and sites inside it further than 0 km away are not.
US Drought Monitor current week; the highest class of any polygon containing the point.
Reservoirs #
Surface water layer not loaded
Sites found: 0, searched within 150 km of this place’s internal point. That is a disc around a point, not the area itself: sites outside the boundary are included, and sites inside it further than 150 km away are not.
Σ(capacity × percent full) / Σ capacity over TWDB reservoirs within 150 km. Texas only; elsewhere USGS reservoir elevation/storage is listed without a capacity to normalise by.
Stream gauges #
Surface water layer not loaded
Sites found: 0, searched within 75 km of this place’s internal point. That is a disc around a point, not the area itself: sites outside the boundary are included, and sites inside it further than 75 km away are not.
USGS latest readings screened against EPA freshwater criteria (DO ≥ 5 mg/L, pH 6.5–9, conductance, turbidity, temperature); NWS flood categories where a NWPS gauge is co-located.
Groundwater #
No USGS monitoring wells within 75 km (or above 1,500 km)
Sites found: 0, searched within 75 km of this place’s internal point. That is a disc around a point, not the area itself: sites outside the boundary are included, and sites inside it further than 75 km away are not.
USGS latest daily water levels. A single latest reading says where the table is, not which way it is moving; select a well for its 365-day trace.
Water stress #
low (0.00)
Σ wᵢ·termᵢ / Σ wᵢ = 0.35×0.00 / 0.35
Banks & federal dollars #
$1.9 bn in deposits at 20 offices of 9 banks (SOD June 2026); HHI 2,048, highly concentrated. $851.4 m federal obligations in FY2026 (direct payments $820.0 m, grants $21.5 m), $21,364 per covered job
| Item | Value | Distance |
|---|---|---|
| First Merchants Bank | $552.6 m · 29.7% share · 4 offices | |
| PNC Bank, National Association | $441.3 m · 23.7% share · 4 offices | |
| STAR Financial Bank | $405.9 m · 21.8% share · 5 offices | |
| Madison, IN | $851.4 m FY2026 · $21,364/job | |
| MULTIPLE RECIPIENTS | $798.3 m · top recipient FY2026 |
| Institution | Deposits | Share | Offices |
|---|---|---|---|
| First Merchants Bank | $552,626,000 | 29.7% | 4 |
| PNC Bank, National Association | $441,344,000 | 23.7% | 4 |
| STAR Financial Bank | $405,885,000 | 21.8% | 5 |
| Old National Bank | $125,940,000 | 6.8% | 2 |
| KeyBank National Association | $118,796,000 | 6.4% | 1 |
| First Farmers Bank & Trust Co. | $85,235,000 | 4.6% | 1 |
| Citizens State Bank of New Castle, Indiana | $66,674,000 | 3.6% | 1 |
| The Huntington National Bank | $63,244,000 | 3.4% | 1 |
| Woodforest National Bank | $3,212,000 | 0.2% | 1 |
Deposit concentration is 2,048 across 9 banks, which the 1995 Department of Justice bank merger screen calls highly concentrated.
HHI = Σ (share %)² over 9 banks with deposits in the county = 29.7² + 23.7² + 21.8² + … (6 more) = 2,048
FDIC Summary of Deposits: deposits at every insured office as of June 30, annual; HHI is the sum of squared county deposit shares (DOJ 1995 bank merger screen: 1000 / 1800). USAspending: obligations by place of performance for the latest complete federal fiscal year (Oct 1 to Sep 30), what agencies committed, not what they paid out; recipients are legal entities. Per-job divides obligations by BLS QCEW covered employment.
Federal obligations #
USAspending place-of-performance obligations for FY2026, by awarding agency.
| Awarding agency | Obligations |
|---|---|
| Social Security Administration | $723,807,304 |
| Department of Veterans Affairs | $71,712,151 |
| Department of Housing and Urban Development | $18,156,750 |
| Department of Transportation | $13,898,695 |
| Department of Agriculture | $9,425,144 |
| Department of Health and Human Services | $6,696,266 |
| Railroad Retirement Board | $3,101,712 |
| Department of Education | $3,081,182 |
| Department of Defense | $939,549 |
| Federal Communications Commission | $354,377 |
| Department of Justice | $186,102 |
| Small Business Administration | $22,488 |
That is $21,364 per covered job, against 39,851 jobs in the 2026 Q1 QCEW quarter.
per job = FY2026 obligations $851.4 m / 39,851 covered jobs (BLS QCEW 2026 Q1, all ownerships) = $21,364
USAspending obligations are recorded where the work is performed, so a prime award performed here is counted here even when the recipient is headquartered elsewhere. Recipients are legal entities, never people.
National context, not this county #
These are United States, single-gauge, single-state and port series. None of them is keyed to this county.
| Series | Latest | As of | Change |
|---|---|---|---|
| Mississippi River at Memphis, stage · ft | not published | not published | |
| Mississippi River at St. Louis, stage · ft | not published | not published | |
| Ohio River at Louisville, stage · ft | 17.40 | 2026-10-19 | -3.1% |
| Missouri River at St. Joseph, stage · ft | not published | not published | |
| Colorado River below Hoover Dam, flow (Hoover releases) · ft³/s | 5,170.00 | 2026-02-05 | -25.3% |
| Texas reservoirs, statewide percent full · % | 72.20 | 2026-10-20 | +0.0% |
| Laredo truck crossings, monthly · trucks | 255,129.00 | 2026-09-01 | -1.4% |
| Los Angeles + Long Beach container volume, annual · TEU | 10,513,167.00 | 2023-01-01 | -13.5% |
| Containerships waiting for a berth, all US ports · ships | 7.00 | 2026-10-13 | +133.3% |
| Shanghai to Los Angeles container rate · $ per 40 ft box | 7,848.00 | 2026-09-01 | +14.9% |
| US diesel retail price · $ per gallon | unavailable | not published | |
| WTI crude oil, spot · $ per barrel | 101.91 | 2026-10-14 | +1.0% |
| 30-year fixed mortgage rate · % | 7.40 | 2026-10-15 | +0.0% |
| Housing starts, annual rate · thousands of units | 1,221.00 | 2026-09-01 | -5.2% |
| Building permits, annual rate · thousands of units | 1,400.00 | 2026-09-01 | -0.2% |
| Case-Shiller US home price index · index, Jan 2000 = 100 | 337.31 | 2026-07-01 | +0.1% |
| Unemployment rate · % | 4.20 | 2026-09-01 | +2.4% |
| US goods and services trade balance, monthly · $ millions | -105,572.00 | 2026-08-01 | -13.7% |
| Retail sales excluding food services, monthly · $ millions | 652,115.00 | 2026-09-01 | +0.7% |
The indicator registry has no county-keyed series and no geographic selection: every entry is national, a named gauge, a single state or a port. They are here as the backdrop the county's own numbers move against, and they are never this county's readings.
What changed #
Madison County, IN: 10 findings, 1 at a watch level and 9 noted
watchMadison County, IN's covered employment is -0.6% against a year earlier, a watch level here: covered employment below the same quarter a year earlier (BLS QCEW over-the-year percent change, as published; not an official level). The previous published period is not in this table, so this is a standing level rather than a change.
Period 2026 Q1.Show the arithmetic
- test: jobs.yoy.emp = -0.6 < 0
BLS QCEW over-the-year percent change, as published; not an official level
noteMadison County, IN's average weekly wage was 3.8% higher than the same quarter a year earlier in 2026 Q1, on BLS QCEW's published over-the-year change.
Period 2026 Q1.Show the arithmetic
- +3.8 % = BLS QCEW over-the-year percent change for 2026 Q1, as published
- the newest QCEW file carries no year-earlier level, so no move from one level to another is printed
BLS QCEW over-the-year percent change, as published
noteMadison County, IN's typical asking rent fell 0.9% from $1,124 in August 2026 to $1,113 in September 2026, on Zillow ZORI.
Period 2026-09.Show the arithmetic
- -0.9% = (1113.4901709401709 - 1123.6000860748452) / 1123.6000860748452 × 100
- 1113.4901709401709 = Zillow ZORI, 2026-09
- 1123.6000860748452 = Zillow ZORI, 2026-08
noteMadison County, IN's covered employment was 0.6% lower than the same quarter a year earlier in 2026 Q1, on BLS QCEW's published over-the-year change.
Period 2026 Q1.Show the arithmetic
- -0.6 % = BLS QCEW over-the-year percent change for 2026 Q1, as published
- the newest QCEW file carries no year-earlier level, so no move from one level to another is printed
BLS QCEW over-the-year percent change, as published
noteMadison County, IN's typical home value of $187,876 ranks 11th of 11 counties in the Indianapolis-Carmel-Greenwood metro, against a median of $312,876.
Period 2026-09.Show the arithmetic
- 0 on the 0-to-100 scale across 11 counties in the Indianapolis-Carmel-Greenwood metro that published home.latest
position among the entities that published this metric this period; not an official level
Read all 10 findings in the full brief
Every finding is produced by a fixed rule table and a fixed sentence for each rule. Nothing here is generated prose.