Cheap Apartments for Rent near Madison, AR from $500 (58 Rentals)

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

Rent According to Income: A Look at Income-Restricted Rentals

Find income-restricted rentals and housing subsidies. Explore government programs designed to help low-income families secure stable, affordable housing.

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Renters Insurance 101: What It Is, What It Covers, and Why You Need It

From theft to fire to water damage, the unexpected can happen to any renter. Discover why renters insurance is one of the smartest and most affordable investments you can make as a tenant.

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Indian Hills
1 to 3 Bedroom Apartments

Indian Hills

1731 Indian Hills RdForrest City, AR 72335
  • Utilities Included
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New Frontier
Studio to 2 Bedroom Apartments

New Frontier

115 S 20th StWest Memphis, AR 72301
Student Housing
  • Utilities Included

How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide

Finding the right apartment starts with three things: location, cost, and amenities. Get the insider perspective from a real estate professional on how to nail all three.

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Annex Lofts
1 to 2 Bedroom Apartments

Annex Lofts

345 S Front StMemphis, TN 38103

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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Chapel Place Homes
3 to 4 Bedroom Apartments

Chapel Place Homes

5228 Whistling Duck DrMemphis, TN 38109

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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Madison, AR Local Guide

Cheapest Available Madison Apartments for Rent and Nearby

 

The cheapest available apartment rental in Madison, AR is a 2 Beds unit found at Vantage Point Apartments - Carriage House priced from $650. Wesley Forest in the South Memphis neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $700. Here is today’s list of the most affordable Madison apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Vantage Point Apartments - Carriage HousePark View2BR,2BA$650
Wesley Forest1x1Wesley Forest1BR,1BA$700
Weaver Fields ApartmentsOne1BR,1BA$725
Barton Court Apartments2 Bed2BR,1BA$800
Greenways at MarionThe Mulligan XL (Classic)1BR,1BA$830
Meadows West Memphis2 bedroom/2 bath2BR,2BA$900
The Crossings at Tunica1x1 Classic1BR,1BA$979
Museum LoftsThe Stax1BR,1BA$1,000
Greenway Apartments2 Beds, 2 Baths2BR,2BA$1,000
The Crescent at 1611 Bedroom 1 Bath1BR,1BA$1,025

Best Value Apartments for Rent in Madison, AR and Nearby

As of August 03, 2026 the best value apartment in the Madison area is the $1.05 price per square foot 2 Bedroom Model at The Marine Residence in the in the South Memphis neighborhood starting from $1,595. The second greatest value Madison apartment is the 3 Bedroom, 2 Bathroom Model at Weatherstone Apartments starting at $1,499 with a $1.02 price per square foot in the DeSoto County 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.
The Marine Residence2 Bedroom2BR,2BA$1.05
Weatherstone Apartments3 Bedroom, 2 Bathroom3BR,2BA$1.02
South Main Artspace Lofts2 Bedroom2BR,2BA$0.91
The Trace at 1612 Bedroom2BR,2BA$1.08
Lakeside Vintage2 Bedroom 2 Bath2BR,2BA$1.00
Barton Court Apartments2 Bed2BR,1BA$0.76
Meadows West Memphis2 bedroom/2 bath2BR,2BA$0.99
Vantage Point Apartments - Carriage HouseVantage Point2BR,2BA$1.00
Weaver Fields ApartmentsOne1BR,1BA$0.94
Wesley Forest1x1Wesley Forest1BR,1BA$1.06

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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Real Estate and Rental Term Glossary | ApartmentHomeLiving.com Renter University

From the letter A all the way to the letter Z, the Real Estate and Rental Term Glossary from the content team at ApartmentHomeLiving.com provides our visitors and shoppers with a little clarity and helpful guidance in navigating the real estate world through definitions and explainers for the top subjects and terms that someone may come across during the leasing, buying, or selling process.

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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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Remember the 3 Rules of Real Estate:
Location, Location, Location!

Explore Madison, AR Rentals by Map

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See the most popular apartments and homes in Madison, AR

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Frequently Asked Questions about Cheap Madison Apartments

How much is rent for a Cheap One Bedroom Madison Apartment?

The lowest price for a Cheap One Bedroom Madison Apartment is $650 at Vantage Point Apartments - Carriage House.

What is the lowest price for a Cheap Two Bedroom Madison Apartment for rent?

Today's best deal for a Cheap Two Bedroom Apartment in Madison is starting from $650 at Vantage Point Apartments - Carriage House.

What is the most affordable Madison Three Bedroom Apartment?

The best deal on a cheap Madison Three Bedroom Apartment rental is at Vantage Point Apartments - Carriage House and starts from $895.

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.

Articles, How-To's, and Tips

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Rent According to Income: A Look at Income-Restricted Rentals

Written by: Robin Stewart

The idea of affordable housing can be subjective. Every individual is in a different place financially and vocationally. What one may easily afford could be a struggle for someone else.

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First Apartment Regrets: Real Renters Share What They'd Do Differently

Written by: Robin Stewart

Hindsight is 20/20. Live and Learn. With age comes wisdom. We’re familiar with all those expressions, and all of them apply to lessons first-time renters learn.

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Renters Insurance 101: What It Is, What It Covers, and Why You Need It

Written by: Robin Stewart

Insurance seems to be a part of life. In some states, having insurance is the law, as is the case for automobile insurance. Renters are no exception.

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Apartment Occupancy Rates: Renter Attraction vs Renter Retention

Written by: Robin Stewart

There’s a tenet in marketing about client or customer attraction and retention. Studies and data have consistently shown it costs less to keep a current customer than to attract a new one.