Cheap Apartments for Rent in Madison County, IL from $500 (56 Rentals)

How Many Bedrooms?Done
Select your price rangeDone
to
Note: Properties with the Total Monthly Price badge include all required fees. Hover over the badge for details.
Lifestyle Matching SearchDone
Learn more about Lifestyle Search
By AmenitiesDone
By Community TypeDone
Features and AvailabilityDone
Done

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

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.

Read Article

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.

Read Article

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.

Read Article
close
View Me
119 Wolf
2 Bedroom Apartments

119 Wolf

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

Skyline Apartments

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

Twin Pine Estates

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

Cherry Hill

744 Washington AveAlton, IL 62002
  • Utilities Included
close
View Me
Diplomat Apartments
1 to 2 Bedroom Apartments

Diplomat Apartments

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

710-728 Connor Dr

710-728 Connor DrSouth Roxana, IL 62087
  • Utilities Included

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.

Read Article
close
View Me
Cedar Lodge
1 to 3 Bedroom Apartments

Cedar Lodge

824 Washington AveAlton, IL 62002
  • Utilities Included
close
View Me
Devonshire Apartments
2 Bedroom Apartments

Devonshire Apartments

9-19 Devon CtEdwardsville, IL 62025
  • Utilities Included
close
View Me
Village Court
1 Bedroom Apartments

Village Court

43 Village CtGlen Carbon, IL 62034
  • Utilities Included
close
View Me
Maple Manor
1 to 3 Bedroom Apartments

Maple Manor

112 Manor CtAlton, IL 62002
  • Utilities Included
close
View Me
Fairway Estates
2 Bedroom Apartments

Fairway Estates

24 Fairway EstGranite City, IL 62040
  • 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.

Read Article
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 1 Bed unit found at Rocwood Apartments in the Wood River neighborhood priced from $700. Flax Meadow Townhomes has the second lowest priced unit, which is a 2 Beds apartment currently listed from $715. Here is today’s list of the most affordable Madison County apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Rocwood Apartments1BR Units1BR,1BA$700
Flax Meadow TownhomesTwo Bed2BR,1BA$715
Broadway PlaceTwo Bedroom Apartment2BR,1BA$752
Cedar Point ApartmentsEfficiencyStudio,1BA$775
Edison Ave. Lofts2 Bdrm Garden, 804 SqFt, Tax Credit, 60% AMI2BR,1BA$795
The Georgetown Apartments1 BEDROOM1BR,1BA$825
Surrey Court Apartments2 Beds, 1 bath2BR,1BA$970
ReNew at AltonFinley1BR,1BA$989

Best Value Apartments for Rent in Madison County, IL

As of July 19, 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 Edwardsville 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 Edwardsville 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/1B TH2BR,1BA$1.20
5526 Humbert Rd5526 Humbert Rd2BR,1BA$0.99
413 N Center St2 Beds, 1 Baths2BR,1BA$1.27
Flax Meadow TownhomesTwo Bed2BR,1.5BA$0.81
Surrey Court Apartments2 Beds, 1 bath2BR,1BA$1.12
Edison Ave. Lofts2 Bdrm Garden, 804 SqFt, Tax Credit, 60% AMI2BR,1BA$0.99
Broadway PlaceTwo Bedroom Apartment2BR,1BA$1.03
Rocwood Apartments1BR Units1BR,1BA$1.13

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 $1,550.

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 $481 which is $1,069 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 Rent According to Income: A Look at Income-Restricted Rentals article

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.

decorative image for Renters Insurance 101: What It Is, What It Covers, and Why You Need It article

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.

decorative image for Apartment Occupancy Rates: Renter Attraction vs Renter Retention article

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.

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

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

Written by: Robin Stewart

Evaluating rental properties for clients draws many parallels to house-hunting. Whether an apartment, loft, townhouse, or other rental, finding the right place means finding “home” for your client.