Cheap Apartments for Rent in the Madison Neighborhood of Lakewood, OH from $500 (46 Rentals)

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Search the lowest-cost Apartments available for rent right now in the Madison area of Lakewood.

What Does “Rent Burdened” Mean? How Much Rent Is Too Much

Learn the official definition (spending 30% or more of your gross income on housing) and how to calculate your exact rent-to-income ratio. This guide offers expert tips on factoring in total housing costs (including utilities and fees) and budgeting accurately to avoid unnecessary financial strain.

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property at 1533 Warren Rd

$1,250

Total Monthly Price

Total Monthly Price

Base Rent
$1,250
Total Monthly Price
$1,250

2 Bedroom, 1 Bath Townhome for Rent

Available Now

1533 Warren Rd, Unit Down, Unit Down

1533 Warren Rd
LakewoodOH44107

Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between

Thinking about getting a co-signer for your rental application? We break down what a co-signer is, the potential benefits, and the serious risks for both parties. Find out if it's the right choice for you.

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Roommate Matching: Finding the Right Fit and Avoiding Pitfalls

When searching for a roommate, follow this list of essential steps and set clear expectations to create a solid foundation for a harmonious living situation.

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property at 2082 Lewis Dr

$1,750

Total Monthly Price

Total Monthly Price

Base Rent
$1,750
Total Monthly Price
$1,750

3 Bedroom, 1 Bath Home for Rent

Available May 1

2082 Lewis Dr

LakewoodOH44107
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South Westerly
Studio to 2 Bedroom Apartments

South Westerly

14401 Detroit AveLakewood, OH 44107
Senior Living
  • Utilities Included

The Art of the Rental Viewing: What to look for during a property tour

Touring a rental? This guide helps you know exactly what to look for, from safety features to hidden flaws, so you can confidently sign your lease or keep searching.

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Clifton Cove
1 Bedroom Apartments

Clifton Cove

12511 Clifton BlvdLakewood, OH 44107
  • Utilities Included
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Grace Apartments
1 Bedroom Apartments

Grace Apartments

1414 Grace AveLakewood, OH 44107
  • Utilities Included
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15121 Clifton Blvd
1 to 2 Bedroom Apartments

15121 Clifton Blvd

15121 Clifton BlvdLakewood, OH 44107
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Delta Lakewood
1 to 2 Bedroom Apartments

Delta Lakewood

14555 Madison AveLakewood, OH 44107
  • Utilities Included
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Arbor Apartments
1 Bedroom Apartments

Arbor Apartments

12962 Clifton BlvdLakewood, OH 44107
  • Utilities Included
property at 1303 Lakeland Ave

$1,750

Total Monthly Price

Total Monthly Price

Base Rent
$1,750
Total Monthly Price
$1,750

3 Bedroom, 2 Bath Home for Rent

Available Now

1303 Lakeland Ave

LakewoodOH44107

Smart Renter's Guide: Calculating Affordable Rent & Housing Costs

Wondering how to determine your rental budget? This comprehensive guide covers everything from the 30% rule to hidden fees and effective budgeting strategies.

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Riverside Manor
1 Bedroom Apartments

Riverside Manor

3223-3235 Rocky River DrCleveland, OH 44111
  • Utilities Included
Showing Results 1-46, Page 1 of 1

Madison, Lakewood, OH Local Guide

Cheapest Available Madison Apartments for Rent

 

The cheapest available apartment rental in the Madison area of Cleveland, OH is a 1 Bed unit found at Elbur Avenue priced from $850. Edgecliff Apartments has the second lowest priced unit, which is a 1 Bed apartment currently listed from $850. Here are the most affordable Madison apartments for rent in Cleveland, OH:

Apartment ListingModel NameBed/BathPriced From
Elbur Avenue1 Bedroom 1 Bath1BR,1BA$850
Edgecliff Apartments1BR1BR,1BA$850
Clarence House1 Bed1BR,1BA$850
Lakewood Premier Apartments13386 Madison #6 and#51BR,1BA$855
Clifton Towers1 Bedroom 1 Bath1BR,1BA$915
Parkway Arms Apartment2 bed / 1 bath2BR,1BA$1,025
2275 Warren Rd2 Bed/1 Bath2BR,1BA$1,050
13322 Madison Ave1 Bed 1 Bath1BR,1BA$1,050
The Lewis1 Bedroom, 1 Bath1BR,1BA$1,150

Best Value Apartments for Rent in Madison, OH

As of April 29, 2026 the best value apartment in the Madison area is the $1.42 price per square foot Unit D Model at Center North in the in the Downtown Lakewood neighborhood starting from $1,900. The second greatest value Madison apartment is the 2085 Chesterland Ave Model at 2085 Chesterland Ave starting at $1,675 with a $1.29 price per square foot in the Downtown Lakewood neighborhood. Here is today’s list of the best values for Madison apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Center NorthUnit D2BR,2BA$1.42
2085 Chesterland Ave2085 Chesterland Ave3BR,1BA$1.29
1646 Waterbury Rd1646 Waterbury Rd2BR,1BA$1.52
2275 Warren Rd2 Bed/1 Bath2BR,1BA$1.31
Lakewood Premier Apartments13386 Madison #6 and#51BR,1BA$1.07
Parkway Arms Apartment2 bed / 1 bath2BR,1BA$1.32
2015 Arthur Ave, Unit 112015 Arthur Ave1BR,1BA$1.17
13322 Madison Ave1 Bed 1 Bath1BR,1BA$1.50
Clifton Towers1 Bedroom 1 Bath1BR,1BA$1.53
Elbur Avenue1 Bedroom 1 Bath1BR,1BA$1.55

10 Hidden Costs of Renting You Should Budget for Before Signing a Lease

Avoid financial stress when renting. Learn about the 10 most common hidden costs—from pet fees to utilities—you must budget for before you sign a lease.

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Don't Settle: How to Negotiate Your Apartment Lease and Save Money

Discover the insider tips from an attorney and real estate agent on how to negotiate your next apartment lease. Find out what's on the table and what's not, so you can save money and get the best terms possible.

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The Ultimate Long-Distance Moving Checklist: Tips from a Real Estate Pro

Moving is tough, especially long-distance. Learn how to minimize stress & expenses with proven strategies from a real estate pro, covering everything from logistics to finances.

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Cash or credit? Understanding the Importance of Credit Score in Real Estate and Renting

Discover how your credit score impacts your ability to lease or buy a home. Learn how credit scores are determined, how to check yours, and strategies to improve it for real estate success.

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Quick Rent Budget Calculator

How much rent can you afford?

The common "Rule of Thumb" is that rent should be no more than 30% of your income. How much is that? Enter your monthly income and click "Calculate My Budget" to find out.

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Pet Friendly Lifestyle
Madison, Lakewood, OH

Ranked #10

Among cities in Ohio for Apartment listings with Pet Friendly Amenities.

Pet Friendliness Lifestyle Score

4.0
Pet Friendly

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Best Local Schools in
Madison, Lakewood, OH

School data provided by Great Schools

Frequently Asked Questions about Cheap Madison Apartments

What is the price of a cheap apartment in Madison?

The cheapest apartment in Madison is Elbur Avenue which is listed at $850, while the average apartment in Madison costs $1,699.

What types of apartments are the cheapest in Madison?

Student, low-income, and by-the-bed apartments are typically the cheapest rentals in most cities, though they require qualifying criteria to rent. There are 4 regular apartments in Madison that we think qualify as ‘cheap apartments’ that do not have special requirements to apply to rent.

Expert Rental Resources

The rental experts at ApartmentHomeLiving.com provide you with top advice, tools, and tips for understanding the leasing process and finding the perfect rental. Here are a few helpful rental and leasing articles from our experts to guide you on your search.

Helpful Local Expert Guides

decorative image for A Cleveland Local Expert’s Guide To 10 Budget-Friendly Neighborhoods to Rent article

A Cleveland Local Expert’s Guide To 10 Budget-Friendly Neighborhoods to Rent

Written by: Sandy Baker

Choosing the ideal place to call home in Cleveland may mean selecting a neighborhood that offers excellent access to the freeways or good overall schools for the kids.

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Experts Guide to The Top Neighborhoods to Rent Near Major Colleges and Universities in Cleveland

Written by: Sandy Baker

Whether you're moving to Cleveland to be close to one of the research hubs several of the local universities are known for or you just want to be part of it all in "The Land" knowing where to rent apartments close to the biggest .

decorative image for Your Official Guide to the Top Neighborhoods to Rent Near Major Employers in Cleveland article

Your Official Guide to the Top Neighborhoods to Rent Near Major Employers in Cleveland

Written by: Sandy Baker

If you’re moving to start a new job, knowing where to live can be overwhelming. Factors like being close to work are important, but so are schools, quality of life, and easy access to transportation.

decorative image for Cleveland Rocks: Your Essential Guide to the Lands Neighborhoods and Culture article

Cleveland Rocks: Your Essential Guide to the Lands Neighborhoods and Culture

Written by: Sandy Baker

Cleveland is the type of city to fall in love with, even if it doesn’t look all that fabulous from the outside.

Articles, How-To's, and Tips

decorative image for Expert Solutions for Creating the Perfect Work-From-Home Apartment Layouts article

Expert Solutions for Creating the Perfect Work-From-Home Apartment Layouts

Written by: Lauren Harrington

This article is based on first-hand experience managing apartment communities and helping renters adapt to their spaces after moving in.

decorative image for What Does “Rent Burdened” Mean? How Much Rent Is Too Much article

What Does “Rent Burdened” Mean? How Much Rent Is Too Much

Written by: Lauren Harrington

This article draws from first-hand renter experiences and recurring financial challenges reported after moving in.

decorative image for Maximizing Your Refund: Essential Tax Tips for Renters article

Maximizing Your Refund: Essential Tax Tips for Renters

Written by: Christine Leonard, Esq.

Other than tax professionals, I can’t think of anyone who looks forward to tax season. For everybody else, April is a stressful month to collect information and meet deadlines.

decorative image for 18 Must-Ask Rental Tour Questions That Reveal the Truth about a Property article

18 Must-Ask Rental Tour Questions That Reveal the Truth about a Property

Written by: Lauren Harrington

Renting your next home can feel thrilling and overwhelming at the same time.