A railway monitoring system for detecting degradations, anomalies, changes, and other states of the railway that may indicate an increased probability of derailment, the need for maintenance, or the impedance of railway operation. The railway monitoring system broadly includes a sensor, a data storage component, a data collection and processing component, and a location positioning component. The sensor and other equipment are mounted in a specially designed or modified rail car and cooperatively collect data representative of railway conditions or states and detect changes in the conditions or states by comparing the collected data to previously collected data points.