Cheap Apartments for Rent in Madison County, IN from $300 (30 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

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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Parq on 8th Apartments
Studio to 3 Bedroom Apartments

Parq on 8th Apartments

1829 E 8th StAnderson, IN 46012
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The Mint
1 to 2 Bedroom Apartments

The Mint

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

Bingham Square

2725 W 16th StAnderson, IN 46011
  • 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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Showing Results 1-30, Page 1 of 1

Cheapest Available Madison County Apartments for Rent

 
Apartment ListingModel NameBed/BathPriced From
The Towers at Southdale Affordable Senior1 Bed/ 1 Bath1BR,1BA$250
Longfellow Plaza Affordable Senior CommunityStudioStudio,1BA$790

Best Value Apartments for Rent in Madison County, IN

As of July 17, 2026 the best value apartment in the Madison County area is the $1.13 price per square foot Basic Unit Model at Ingalls Creek Flats in the in the Barrington Estates neighborhood starting from $1,750. The second greatest value Madison County apartment is the Stonebrook Model at Stonebrook Townhomes starting at $1,230 with a $0.86 price per square foot in the Anderson 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.
Ingalls Creek FlatsBasic Unit2BR,2BA$1.13
Stonebrook TownhomesStonebrook3BR,1.5BA$0.86
Sun Valley TownhomesTownhouse3BR,2.5BA$0.92
903 College Dr, Unit 1903 College Dr2BR,2BA$0.90
Hoosier Woods2X2 60%2BR,2BA$1.08
ApplecreekThe Golden2BR,1BA$1.16
1317 Main St, Unit A1317 Main St2BR,1BA$0.86
328 Milton Ave, Unit 328 # 1328 Milton Ave1BR,1BA$0.99
2009 George St2009 George St1BR,1BA$1.04
The Towers at Southdale Affordable Senior1 Bed/ 1 Bath1BR,1BA$0.45

Frequently Asked Questions about Cheap Madison County Apartments

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 $1,399.

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 2 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 $110 which is $1,289 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

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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.

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.

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Pet-Friendly Renting: Everything You Need to Know Before You Move

Written by: Christine Leonard, Esq.

For so many of us, pets are the best companions and a big part of our lives. For this reason, a pet-friendly house or apartment is often a very important - and nonnegotiable - part of a move.