Located along the Morris and Essex Lines it is noted for Madison's historic railroad station becoming one of America's first commuter railroads, attracting well-to-do families from nearby Manhattan. It remains a popular commuter town for residents who work in New York City. The community maintains a population of nearly 18,000 residents. It is known as "The Rose City" and was named in honor of President James Madison.
Madison was ranked 33rd in Money Magazine's 2011 ranking of the "Best Places to Live", the 3rd highest-ranked place in New Jersey and second highest in Morris County behind Montville. New Jersey Monthly magazine ranked Madison first in the state in its 2019 rankings of the "Best Places to Live" in New Jersey.
Often regarded as a college town, along the Florham Park–Madison–Convent Station (Morris Township) border are three universities including Drew University, the Florham Campus of Fairleigh Dickinson University and the College of Saint Elizabeth located in Convent Station. Madison is home to the Shakespeare Theatre of New Jersey, one of the largest professional Shakespeare companies in North America.
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