Madison Heights is part of Oakland County's Automation Alley. There are more than 1,300 commercial and industrial businesses and services within the city's 7.2 square miles (18.6 km2), and the city is proud to have a majority of small businesses, as well as more than 100 major companies within its borders, such as Best Buy, Coca-Cola, Commercial Steel Treating Corporation, Costco, CVS Pharmacy, Henkel Technologies, Home Depot, Meijer, Micro Center, Ogura Corporation, Sam's Club, Hungry Howie's, Target, UPS, WOW!, Culver's, and Sears. The city has 23 shopping centers, 11 hotels, more than 860,000 square feet (80,000 m2) of office space, and seven industrial parks that include 10,000,000 square feet (900,000 m2).

The Telway Hamburger System is a long-standing 24-hour restaurant in Madison Heights known for its sliders (small hamburgers) and its unique late-night crowds.