Cheap Apartments for Rent in Madison County, IN from $300 (27 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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Plumwood Apartments
Studio to 2 Bedroom Apartments

Plumwood Apartments

5 E Plum StChesterfield, IN 46017
  • Utilities Included
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Central Schools
1 to 2 Bedroom Apartments

Central Schools

2120 Central AveAnderson, IN 46016
Senior Living
  • Utilities Included
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Parq on 8th Apartments
Studio to 3 Bedroom Apartments

Parq on 8th Apartments

1829 E 8th StAnderson, IN 46012
  • 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.

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The Mint
1 to 2 Bedroom Apartments

The Mint

2505 E 10th StAnderson, IN 46012
  • 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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Bingham Square
1 to 3 Bedroom Apartments

Bingham Square

2725 W 16th StAnderson, IN 46011
  • Utilities Included
Showing Results 1-27, Page 1 of 1

Cheapest Available Madison County Apartments for Rent

 

The cheapest available apartment rental in Madison County, IN is a 1 Bed unit found at The Towers at Southdale Affordable Senior priced from $250. BGP Country Club Estates, LLC has the second lowest priced unit, which is a 1 Bed apartment currently listed from $755. Here is today’s list of the most affordable Madison County apartments for rent:

Apartment ListingModel NameBed/BathPriced From
The Towers at Southdale Affordable Senior1 Bed/ 1 Bath1BR,1BA$250
BGP Country Club Estates, LLC1 Bedroom 1 Bath - 482561BR,1BA$755
Harter HouseRoseStudio,1BA$779
Longfellow Plaza Affordable Senior CommunityStudioStudio,1BA$790

Best Value Apartments for Rent in Madison County, IN

As of June 02, 2026 the best value apartment in the Madison County area is the $1.00 price per square foot 28 W 9th St Model at 28 W 9th St in the starting from $1,760. The second greatest value Madison County apartment is the Townhouse Model at Sun Valley Townhomes starting at $1,300 with a $0.92 price per square foot . 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.
28 W 9th St28 W 9th St2BR,2BA$1.00
Sun Valley TownhomesTownhouse3BR,2.5BA$0.92
Tin Plate Apartments2 Beds, 2 Baths2BR,2BA$1.07
Hoosier Woods2X2 60%2BR,2BA$1.13
Madison LakesOne Bedroom1BR,1BA$1.25
BGP Country Club Estates, LLC1 Bedroom 1 Bath - 482561BR,1BA$1.05
Cedar Ridge TownhomesThe Pine1BR,1BA$1.29
ApplecreekThe Washington1BR,1BA$1.29
2208 Hendricks St, Unit 32208 Hendricks St1BR,1BA$1.15
The Towers at Southdale Affordable Senior1 Bed/ 1 Bath1BR,1BA$0.45

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 $790.

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

The cheapest apartment in Madison County is The Towers at Southdale Affordable Senior which is listed at $250, while the average apartment in Madison County costs $1,574.

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 $121 which is $1,453 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.