Cheap Apartments for Rent in Madison, NE from $500 (38 Rentals)

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

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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property at 503 W Phillip Ave

$900

Total Monthly Price

Total Monthly Price

Base Rent
$900
Total Monthly Price
$900

1 Bedroom, 1 Bath Home for Rent

Available Now

503 W Phillip Ave

NorfolkNE68701
property at 505 W Phillip Ave

$900

Total Monthly Price

Total Monthly Price

Base Rent
$900
Total Monthly Price
$900

1 Bedroom, 1 Bath Home for Rent

Available Now

505 W Phillip Ave

NorfolkNE68701

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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Leisure Apartments
1 to 2 Bedroom Apartments

Leisure Apartments

825 E 6th StWayne, NE 68787
  • 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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Gatewood Estates
Studio to 3 Bedroom Apartments

Gatewood Estates

627 Streeter DrNorth Sioux City, SD 57049
  • Utilities Included
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Bluestem Apartments
Studio to 3 Bedroom Apartments

Bluestem Apartments

3680 Big Bluestem RdFremont, NE 68025
  • Utilities Included

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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Showing Results 1-38, Page 1 of 1

Madison, NE Local Guide

Cheapest Available Madison Apartments for Rent and Nearby

 

The cheapest available apartment rental in Madison, NE is a 1 Bed unit found at Fremont Omega - A 55+ Senior Community priced from $695. Prospect Ridge Apartments has the second lowest priced unit, which is a Studio apartment currently listed from $725. Here is today’s list of the most affordable Madison apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Fremont Omega - A 55+ Senior Community1 Bed 1 Bath1BR,1BA$695
Prospect Ridge ApartmentsStudioStudio,1BA$725
Dakota Bend I & IIDB 2 - 1 Bedroom1BR,1BA$725
Erin Apartments2 Beds, 1 bath2BR,1BA$750
The Apartment Place1BR/1BA1BR,1BA$895
Five Sons Apartments1 Bed1BR,1BA$900
Nye ApartmentsTwo Bed, One Bath2BR,1BA$945
Conestoga CrossingTWO BEDROOM FLOORPLAN2BR,2BA$949
Woodbury HeightsTwo Bedroom2BR,1BA$950
Wellington At The DunesOpen living space + spacious master with vaulte...1BR,1BA$950

Best Value Apartments for Rent in Madison, NE and Nearby

As of May 05, 2026 the best value apartment in the Madison area is the $1.18 price per square foot Classic Collection: Elkhorn Model at Deerfield Apartments & Chateaus in the starting from $1,535. The second greatest value Madison apartment is the 2 Beds, 1 bath Model at 414 W Phillip Ave starting at $1,450 with a $1.16 price per square foot . 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.
Deerfield Apartments & ChateausClassic Collection: Elkhorn3BR,2BA$1.18
414 W Phillip Ave2 Beds, 1 bath2BR,1BA$1.16
Dakota Prairie ApartmentsTwo Bedroom, Two Bath2BR,2BA$1.15
Prairie Park Apartments2 Bed, 2 Bath2BR,2BA$1.24
Lincoln Woods2 Bedroom Updated2BR,1BA$1.06
Nye ApartmentsTwo Bed, Two Bath2BR,2BA$1.00
Woodbury HeightsTwo Bedroom2BR,1BA$0.95
The Apartment Place1BR/1BA1BR,1BA$1.07
Conestoga CrossingTWO BEDROOM FLOORPLAN2BR,2BA$1.14
Fremont Omega - A 55+ Senior Community1 Bed 1 Bath1BR,1BA$1.07

A Seasoned Property Manager's Step-by-Step Guide to Getting Your Deposit Back

Learn the property manager's true secrets to a zero-deduction move-out. Use this step-by-step guide on documentation, cleaning, and lease-reading to reclaim your security deposit.

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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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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.

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

Explore Madison, NE 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 $695 at Fremont Omega - A 55+ Senior Community.

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 $750 at Erin Apartments.

What is the most affordable Madison Three Bedroom Apartment?

The best deal on a cheap Madison Three Bedroom Apartment rental is at Erin Apartments and starts from $1,000.

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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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.

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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.