Cheap Apartments for Rent in Madison County, IL from $500 (58 Rentals)

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

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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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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2640 Moore St, Unit A
$1,050
Total Monthly Price

Total Monthly Price

Base Rent
$1,050
Total Monthly Price
$1,050
2 Bedroom Apartment Available Jul 1

2640 Moore St, Unit A

2640 Moore StAlton, IL 62002

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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119 Wolf
2 Bedroom Apartments

119 Wolf

119 Wolf AveHamel, IL 62046
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Skyline Apartments
1 to 3 Bedroom Apartments

Skyline Apartments

189 Skyline View DrCollinsville, IL 62234
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Twin Pine Estates
1 to 2 Bedroom Apartments

Twin Pine Estates

3301 Fosterburg RdAlton, IL 62002
  • Utilities Included
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Cherry Hill
Studio to 3 Bedroom Apartments

Cherry Hill

744 Washington AveAlton, IL 62002
  • Utilities Included

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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Diplomat Apartments
1 to 2 Bedroom Apartments

Diplomat Apartments

385-407 Kent StEast Alton, IL 62024
  • Utilities Included
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710-728 Connor Dr
2 Bedroom Apartments

710-728 Connor Dr

710-728 Connor DrSouth Roxana, IL 62087
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Cedar Lodge
1 to 3 Bedroom Apartments

Cedar Lodge

824 Washington AveAlton, IL 62002
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Devonshire Apartments
2 Bedroom Apartments

Devonshire Apartments

9-19 Devon CtEdwardsville, IL 62025
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Village Court
1 Bedroom Apartments

Village Court

43 Village CtGlen Carbon, IL 62034
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Maple Manor
1 to 3 Bedroom Apartments

Maple Manor

112 Manor CtAlton, IL 62002
  • 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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Showing Results 1-50, Page 1 of 2

Cheapest Available Madison County Apartments for Rent

 

The cheapest available apartment rental in Madison County, IL is a Studio unit found at Rivers Edge Apartments in the Metro East neighborhood priced from $625. Rocwood Apartments 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 County apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Rivers Edge ApartmentsEfficiencyStudio,1BA$625
Rocwood Apartments1BR Units1BR,1BA$700
Edison Ave. Lofts2 Bdrm Garden, 748 SqFt, Tax Credit, Low Home, ...2BR,1BA$700
Flax Meadow TownhomesTwo Bed2BR,1BA$715
Broadway PlaceTwo Bedroom Apartment2BR,1BA$752
Cedar Point ApartmentsEfficiencyStudio,1BA$775
The Georgetown Apartments1 Bed, 1 bath1BR,1BA$775
Surrey Court Apartments2 Beds, 1 bath2BR,1BA$970
ReNew at AltonFinley1BR,1BA$989

Best Value Apartments for Rent in Madison County, IL

As of June 03, 2026 the best value apartment in the Madison County area is the $0.54 price per square foot D1 Model at Parc at 720 in the in the Fruit Maple Carpenter neighborhood starting from $760. The second greatest value Madison County apartment is the Lancashire B1 Model at Storyboard on Lancashire starting at $1,250 with a $1.18 price per square foot in the Fruit Maple Carpenter neighborhood. Here is today’s list of the best values for Madison County apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Parc at 720D14BR,4BA$0.54
Storyboard on LancashireLancashire B12BR,1BA$1.18
Metro Apartments at Granite City2BR/1B2BR,1BA$1.22
Flax Meadow TownhomesTwo Bed2BR,1.5BA$0.81
Surrey Court Apartments2 Beds, 1 bath2BR,1BA$1.12
306 E Johnson St, Unit # 4306 E Johnson St2BR,2BA$1.19
Edison Ave. Lofts2 Bdrm Garden, 748 SqFt, Tax Credit, Low Home, ...2BR,1BA$0.94
Broadway PlaceTwo Bedroom Apartment2BR,1BA$1.03
Rocwood Apartments1BR Units1BR,1BA$1.13
The Georgetown Apartments1 Bed, 1 bath1BR,1BA$1.48

Frequently Asked Questions about Cheap Madison County Apartments

What is a cheap apartment in Madison County?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Madison County is under $989.

What is the price of a cheap apartment in Madison County?

The cheapest apartment in Madison County is Rocwood Apartments which is listed at $700, while the average apartment in Madison County costs $1,756.

What types of apartments are the cheapest in Madison County?

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 9 regular apartments in Madison County that we think qualify as ‘cheap apartments’ that do not have special requirements to apply to rent.

How do the prices of cheap apartments compare to the average apartment in Madison County?

Cheap apartments in Madison County have an average cost of $469 which is $1,287 cheaper than the average rent for all rentals in Madison County.

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

decorative image for Neighborhood and Market Insights: How to Choose the Right Area to Rent article

Neighborhood and Market Insights: How to Choose the Right Area to Rent

Written by: Robin Stewart

Apartment-hunting can be a gargantuan task. Renters have a wish list of items—some luxuries, some necessities—but finding what you seek in the right place is perhaps the most important part of the journey.

decorative image for A Seasoned Property Manager's Step-by-Step Guide to Getting Your Deposit Back article

A Seasoned Property Manager's Step-by-Step Guide to Getting Your Deposit Back

Written by: Lauren Harrington

I’m going to talk with you as a seasoned property manager and friend. So, let’s start with your security deposit. I want you to think about this guide as insider information. You deserve your deposit back.

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.