809 Greenwood St
MadisonIL62060
Cheap Homes for Rent in Madison, IL from $695 (18 Rentals)
Search the lowest-cost Homes available for rent right now in Madison.
541 N 27th St
East St. LouisIL62205
7938 Church Dr
St. LouisMO63147
1906 Rhodes St
MadisonIL62060
1039 Gimblin St
St. LouisMO63147
2108 Washington St
MitchellIL62040
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.
2650 E 24th St
Granite CityIL62040
409 Shepley Dr
St. LouisMO63137
2446 State St
Granite CityIL62040
205 Ben Nevis Rd
St. LouisMO63137
155 Ben Nevis Rd
St. LouisMO63137
5200 Von Phul St
St. LouisMO63107
Renters Insurance 101: What It Is, What It Covers, and Why You Need It
From theft to fire to water damage, the unexpected can happen to any renter. Discover why renters insurance is one of the smartest and most affordable investments you can make as a tenant.
2734 Center St
Granite CityIL62040
3120 Aubrey Ave
Granite CityIL62040
2426 E 24th St
Granite CityIL62040
575 Glorose Dr
St. LouisMO63137
715 Doddridge St
St. LouisMO63147
2747 Washington Ave
Granite CityIL62040
How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide
Finding the right apartment starts with three things: location, cost, and amenities. Get the insider perspective from a real estate professional on how to nail all three.
Showing Results 1-18, Page 1 of 1
Madison, IL Local Guide
Welcome sign by Mark Goebel is licensed under CC BY 2.0
How much does it cost to rent a home in Madison?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Madison 2 Bedroom Homes for Rent | $1,076 | $695 | $1,300 |
| Madison 3 Bedroom Homes for Rent | $1,351 | $850 | $2,500 |
| Madison 4 Bedroom Homes for Rent | $1,631 | $1,350 | $1,800 |
| Madison 5 Bedroom Homes for Rent | $1,550 | $1,550 | $1,550 |
Note: Properties with the Total Monthly Price badge include all required fees. Hover over the badge for details.
Browse Top Homes for Rent in Madison
Explore Madison
Madison, IL Local Guide
- Nearby Cities
- ZIP codes
- Local Counties
Cheapest Available Madison Apartments for Rent
The cheapest available apartment rental in Madison, IL is a 1 Bed unit found at Collins Terrace Apartments in the Lafayette Square neighborhood priced from $665. River Pointe Apartments in the Baden neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $800. Here is today’s list of the most affordable Madison apartments for rent:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| Collins Terrace Apartments | 1 Bedroom Small | 1BR,1BA | $665 |
| River Pointe Apartments | 1 Bed / 1 Bath | 1BR,1BA | $800 |
| The Georgetown Apartments | 1 BEDROOM | 1BR,1BA | $825 |
| Rivertrail Apartments | 1bd CR | 1BR,1BA | $825 |
| College Hill Apartments | 2 Bedroom | 2BR,1BA | $970 |
Best Value Apartments for Rent in Madison, IL
As of September 05, 2026 the best value apartment in the Madison area is the $0.88 price per square foot 3 Bedroom 1.5 Bath Townhome with Garage Model at River Trace Townhomes in the in the North Riverfront neighborhood starting from $1,255. The second greatest value Madison apartment is the 2 Bedroom Model at College Hill Apartments starting at $970 with a $0.95 price per square foot in the Old North St. Louis neighborhood. Here is today’s list of the best values for Madison apartments based on price per square foot:
| Apartment Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| River Trace Townhomes | 3 Bedroom 1.5 Bath Townhome with Garage | 3BR,1.5BA | $0.88 |
| College Hill Apartments | 2 Bedroom | 2BR,1.5BA | $0.95 |
| Parsons Place | 2 Bdrm Garden, 847 SqFt, Tax Credit, 60% AMI | 2BR,1BA | $1.48 |
| 2127 Obear Ave, Unit XX | 2127 Obear Ave | 1BR,1BA | $0.90 |
| 2125 E Obear Ave | 2125 E Obear Ave | 2BR,1BA | $0.96 |
| 3965 N 21st St | 3965 N 21st St | 3BR,1BA | $1.14 |
| Rivertrail Apartments | 1bd | 1BR,1BA | $1.18 |
| River Pointe Apartments | 1 Bed / 1 Bath | 1BR,1BA | $1.23 |
| Collins Terrace Apartments | 1 Bedroom Large | 1BR,1BA | $1.28 |
| The Georgetown Apartments | 1 BEDROOM | 1BR,1BA | $1.57 |
Don't Settle: How to Negotiate Your Apartment Lease and Save Money
Discover the insider tips from an attorney and real estate agent on how to negotiate your next apartment lease. Find out what's on the table and what's not, so you can save money and get the best terms possible.
Read Article
Navigating the Rental Market: Tips for First-Time Renters
Entering the rental market? Learn these simple tips and strategies to avoid common pitfalls and make confident choices. Rent with peace of mind.
Read ArticleReal Estate and Rental Term Glossary | ApartmentHomeLiving.com Renter University
From the letter A all the way to the letter Z, the Real Estate and Rental Term Glossary from the content team at ApartmentHomeLiving.com provides our visitors and shoppers with a little clarity and helpful guidance in navigating the real estate world through definitions and explainers for the top subjects and terms that someone may come across during the leasing, buying, or selling process.
Read Article
Quick Rent Budget Calculator
How much rent can you afford?
The common "Rule of Thumb" is that rent should be no more than 30% of your income. How much is that? Enter your monthly income and click "Calculate My Budget" to find out.
Let everyone know!
Do you know the Madison area?
If you’re an expert on all things Madison, tell us what you love (and don't) by rating it and writing a review.
Write a Review
Remember the 3 Rules of Real Estate:Location, Location, Location!
Explore Madison, IL Rentals by Map
See the most popular apartments and homes in Madison, IL
Frequently Asked Questions about Madison
What type of rentals are currently available in Madison?
There are currently 209 Apartments for Rent in Madison, IL with pricing that ranges from $625 to $1,950. There are also 65 Single Family Homes for rent, Condos, and Townhome rentals currently available in Madison ranging from $695 to $2,500.
What is the current price range for Rental Homes in Madison?
Today's rental pricing for Homes for Rent, Condos and Townhomes in Madison ranges from $695 to $2,500 with an average monthly rent of $1,281.
How much are larger Three and Four Bedroom Rentals in Madison?
For those who are looking for larger living arrangements, Three Bedroom Apartments in Madison range from $800 to $1,566, while Three Bedroom Homes, Condos, and Townhomes for rent range from $850 to $2,500. Four Bedroom Single-Family rentals are also available starting from $1,350 and Four Bedroom Apartments start at $1,385.
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
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.
Exploring Rental Options: Apartments, Townhomes, and Lofts - Oh My!
Written by: Robin Stewart
Where do you see yourself? When you think of home, sweet home, are you in a 3/2 apartment? Dreaming of a tall townhome? Maybe an industrial loft heavy on cool vibes is on your visioning board.
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.
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.