Cheap Apartments for Rent in Madison, IN from $400 (62 Rentals)

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Riverside Tower Lofts
1 to 2 Bedroom Apartments

Riverside Tower Lofts

1001 W 2nd StMadison, IN 47250
Senior Living
  • 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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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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Crowne at the Summit
$1,151 - $1,967
Total Monthly Price

Total Monthly Price

Base Rent
$1,151 - $1,967
Total Monthly Price
$1,151 - $1,967
1 to 3 Bedroom Apartments Available Now

Crowne at the Summit

4301 Crowne Springs DrLouisville, KY 40241
Corporate Housing
  • Verified
  • Customer Reviewed
  • 3D Tour

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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The Art of the Rental Viewing: What to look for during a property tour

Touring a rental? This guide helps you know exactly what to look for, from safety features to hidden flaws, so you can confidently sign your lease or keep searching.

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Water's Edge
1 to 3 Bedroom Apartments

Water's Edge

20 Red Oak WayAustin, IN 47102
  • Utilities Included
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281 E Main St
1 Bedroom Apartments

281 E Main St

281 E Main StHanover, IN 47243
  • Utilities Included

Smart Renter's Guide: Calculating Affordable Rent & Housing Costs

Wondering how to determine your rental budget? This comprehensive guide covers everything from the 30% rule to hidden fees and effective budgeting strategies.

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Madison, IN Local Guide

Cheapest Available Madison Apartments for Rent and Nearby

 

The cheapest available apartment rental in Madison, IN is a 1 Bed unit found at Gwen Gardens Apartments in the Northern Kentucky neighborhood priced from $470. Stonebrook of Scottsburg has the second lowest priced unit, which is a 1 Bed apartment currently listed from $699. Here is today’s list of the most affordable Madison apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Gwen Gardens ApartmentsOne Bedroom1BR,1BA$470
Stonebrook of ScottsburgOne Bedroom, One Bath, 650 Sq Ft1BR,1BA$699
217 Hooton Blvd1 Bedroom, 1 Bathroom1BR,1BA$800
Tracks at Seymour1 Bedroom, 1 Bath, 743 Sq Ft1BR,1BA$904
Oldham Oaks2 Bedroom2BR,2BA$905
Ashby1 Bedroom 1 Bathroom - Small1BR,1BA$937
Lakeview1 Bedroom 1 Bath1BR,1BA$942
Sova1 Bedroom1BR,1BA$989

Best Value Apartments for Rent in Madison, IN and Nearby

As of April 24, 2026 the best value apartment in the Madison area is the $0.91 price per square foot 3 Bedroom Model at Oldham Oaks in the starting from $1,230. The second greatest value Madison apartment is the Thoroughbred Model at Crestwood Commons starting at $1,345 with a $1.11 price per square foot in the East End neighborhood. Here is today’s list of the best values for Madison apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Oldham Oaks3 Bedroom3BR,2BA$0.91
Crestwood CommonsThoroughbred2BR,2BA$1.11
Rivers Edge Residences2 Beds, 2 baths2BR,2BA$1.10
Highland Glen3B3BR,2BA$1.07
200 Riverview Dr1BR/1BA1BR,1BA$1.10
412 W 3rd St, Unit 1412 W 3rd St1BR,1BA$1.00
410 W 3rd St, Unit 1410 W 3rd St1BR,1BA$1.00
Gwen Gardens ApartmentsTwo Bedroom2BR,2BA$0.83
Lakeview1 Bedroom 1 Bath1BR,1BA$1.17
217 Hooton Blvd1 Bedroom, 1 Bathroom1BR,1BA$1.05

10 Hidden Costs of Renting You Should Budget for Before Signing a Lease

Avoid financial stress when renting. Learn about the 10 most common hidden costs—from pet fees to utilities—you must budget for before you sign a lease.

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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.

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The Ultimate Long-Distance Moving Checklist: Tips from a Real Estate Pro

Moving is tough, especially long-distance. Learn how to minimize stress & expenses with proven strategies from a real estate pro, covering everything from logistics to finances.

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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 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.

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Remember the 3 Rules of Real Estate:
Location, Location, Location!

Explore Madison, IN Rentals by Map

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Frequently Asked Questions about Cheap Madison Apartments

How much is rent for a Cheap One Bedroom Madison Apartment?

The lowest price for a Cheap One Bedroom Madison Apartment is $470 at Gwen Gardens Apartments.

What is the lowest price for a Cheap Two Bedroom Madison Apartment for rent?

Today's best deal for a Cheap Two Bedroom Apartment in Madison is starting from $695 at Gwen Gardens Apartments.

What is the most affordable Madison Three Bedroom Apartment?

The best deal on a cheap Madison Three Bedroom Apartment rental is at Highland Glen and starts from $1,177.

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 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.

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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.

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Maximizing Your Refund: Essential Tax Tips for Renters

Written by: Christine Leonard, Esq.

Other than tax professionals, I can’t think of anyone who looks forward to tax season. For everybody else, April is a stressful month to collect information and meet deadlines.

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18 Must-Ask Rental Tour Questions That Reveal the Truth about a Property

Written by: Lauren Harrington

Renting your next home can feel thrilling and overwhelming at the same time.