Located on the Third Great Western Turnpike, the village was on a busy thoroughfare for east-west travelers and featured a hotel and resort on Madison Lake.

Many visitors came from the nearby hamlet of Solsville, where the Chenango Canal and the railroad both had stations.

which takes place in August annually and sees over 1,000 antique dealers and tens of thousands of buyers traveling to Madison to find rare and unique items.

According to the U.S. Census Bureau, the village of Madison has a total area of 0.5 square miles (1.3 km2), all land.

[1] The village drains northward toward Oriskany Creek, which flows northeast toward the Mohawk River near Utica.

36.2% of all households were made up of individuals, and 14.5% had someone living alone who was 65 years of age or older.