Cheap Apartments for Rent in Madison County, IN from $599 (59 Rentals)

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

property at 924 W 5th St

$600 - $675

1 Bedroom Rentals

Available Now

924 W 5th St

AndersonIN46016

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

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property at 711 W 22nd St

$650 - $875

1 To 2 Bedroom Rentals

Available Now

711 W 22nd St

AndersonIN46016
property at 2316 Walnut St

$725

Total Monthly Price

Total Monthly Price

Base Rent
$725
Total Monthly Price
$725

1 Bedroom, 1 Bath Home for Rent

Available Now

2316 Walnut St

AndersonIN46016

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property at 813 E 29th St

$775

Total Monthly Price

Total Monthly Price

Base Rent
$775
Total Monthly Price
$775

1 Bedroom, 1 Bath Home for Rent

Available Now

813 E 29th St

AndersonIN46016
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618 Henry St, Unit 618
$775
Total Monthly Price

Total Monthly Price

Base Rent
$775
Total Monthly Price
$775
1 Bedroom Apartment Available Now

618 Henry St, Unit 618

618 Henry StAnderson, IN 46016
  • Smoke Free

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property at 615 W 29th St

$800

Total Monthly Price

Total Monthly Price

Base Rent
$800
Total Monthly Price
$800

2 Bedroom, 1 Bath Townhome for Rent

Available Now

615 W 29th St

AndersonIN46016
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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

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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The Mint
1 to 2 Bedroom Apartments

The Mint

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

Bingham Square

2725 W 16th StAnderson, IN 46011
  • Utilities Included
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Hickory Knoll Apartments
1 to 2 Bedroom Apartments

Hickory Knoll Apartments

1603 E 53rd StAnderson, IN 46013
Senior Living
  • Utilities Included
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602-610 Meridian
1 to 2 Bedroom Apartments

602-610 Meridian

602 Meridian StAnderson, IN 46016
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Meadow View Apartments
Studio to 3 Bedroom Apartments

Meadow View Apartments

1520 N Main StLapel, IN 46051
  • Utilities Included

Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between

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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, IN is a 1 Bed unit found at The Towers at Southdale Affordable Senior in the Anderson neighborhood priced from $250. 602-610 Meridian in the Anderson neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $725. 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
602-610 Meridian1BR/1.0BA1BR,1BA$725
Longfellow Plaza Affordable Senior CommunityStudioStudio,1BA$790

Best Value Apartments for Rent in Madison County, IN

As of September 01, 2026 the best value apartment in the Madison County area is the $0.94 price per square foot 1522 Main St Model at 1522 Main St, Unit 1 in the starting from $850. The second greatest value Madison County apartment is the 2BR/1.0BA Model at 4415 Columbus Ave starting at $800 with a $1.00 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.
1522 Main St, Unit 11522 Main St1BR,1BA$0.94
4415 Columbus Ave2BR/1.0BA2BR,1BA$1.00
430 W 7th St, Unit 430430 W 7th St2BR,1BA$0.96
Hoosier Woods1X1 60%1BR,1BA$1.20
317 N Harrison St, Unit B317 N Harrison St2BR,1BA$1.14
618 Henry St, Unit 618618 Henry St1BR,1BA$1.19
602-610 Meridian1BR/1.0BA1BR,1BA$1.12
2009 George St2009 George St1BR,1BA$1.04
1807 Meridian St, Unit #21807 Meridian St2BR,1BA$1.05
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 $1,034.

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 6 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 $627 which is $407 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 Practical Tips for Renters: How to Identify a Great Rental and Avoid Red Flags article

Practical Tips for Renters: How to Identify a Great Rental and Avoid Red Flags

Written by: Robin Stewart

Renters want to find a great apartment, the right place for them, one that checks all the boxes of location, rental cost, amenities, safety, and more.

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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.

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.