Cheap Apartments for Rent in Madison, SD from $300 (57 Rentals)

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Evergreen Estates
2 Bedroom Apartments

Evergreen Estates

1005 NE 4th StMadison, SD 57042
  • 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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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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Maple Park
2 Bedroom Apartments

Maple Park

2601 N Maple LnSioux Falls, SD 57107
Corporate Housing

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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Southland Court
Studio to 2 Bedroom Apartments

Southland Court

818 Southland LnBrookings, SD 57006
  • Utilities Included
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1009 Southland Ln
1 to 2 Bedroom Apartments

1009 Southland Ln

1009 Southland LnBrookings, SD 57006
  • 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, SD Local Guide

Cheapest Available Madison Apartments for Rent and Nearby

 

The cheapest available apartment rental in Madison, SD is a 1 Bed unit found at West Oaks Estate priced from $399. Yukon at Benson in the Northwest Sioux Falls neighborhood has the second lowest priced unit, which is a Studio apartment currently listed from $795. Here is today’s list of the most affordable Madison apartments for rent:

Apartment ListingModel NameBed/BathPriced From
West Oaks Estate1 bdr/ 1 bath1BR,1BA$399
Yukon at BensonStudioStudio,1BA$795
Aspen CommonsStudioStudio,1BA$800
Maple Pass Apartments and Townhomes in Hartford, SDRent Special - Studio AptsStudio,1BA$825
Auburn Manor ApartmentsOne Bedroom1BR,1BA$835
University Hills VillageUnit Type K3 - Studio/1 BA - Non SmokingStudio,1BA$850
Marion Crossing Apartments1 Bed 1 Bath Apartment1BR,1BA$870
Benson Village Townhomes1 Bedroom, 1 Bathroom1BR,1BA$905
ParagonThe VistaStudio,1BA$925
Latitude 44The CoveStudio,1BA$955

Best Value Apartments for Rent in Madison, SD and Nearby

As of April 28, 2026 the best value apartment in the Madison area is the $1.01 price per square foot 3 Bedroom 2.5 Bathroom Townhome Model at Pinnacle Townhomes in the in the Northwest Sioux Falls neighborhood starting from $1,865. The second greatest value Madison apartment is the 2 Bedroom PIIB Model at Lake Area Townhomes starting at $1,590 with a $0.99 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.
Pinnacle Townhomes3 Bedroom 2.5 Bathroom Townhome3BR,2.5BA$1.01
Lake Area Townhomes2 Bedroom PIIB2BR,2BA$0.99
100 W 10th St3x23BR,2BA$1.00
110 W 10th StModel B3BR,2BA$1.19
The Brixx Villas3 Bedrooms, 2 Bathrooms3BR,2BA$1.21
Falls Park ApartmentsRushmore3BR,2BA$0.96
Northridge Estates/Perfect LocationTwo Bed/Two Bath/ no pets2BR,2BA$1.11
West Oaks Estate1 bdr/ 1 bath1BR,1BA$0.43
Benson Village Townhomes1 Bedroom, 1 Bathroom1BR,1BA$1.18
Marion Crossing Apartments1 Bed 1 Bath Apartment1BR,1BA$1.18

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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Madison, SD

School data provided by Great Schools

Remember the 3 Rules of Real Estate:
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Frequently Asked Questions about Cheap Madison Apartments

What is the Cheapest Studio apartment in Madison?

Currently the most affordable Cheap Studio Apartment in Madison is at Yukon at Benson listed at $795.

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

The lowest price for a Cheap One Bedroom Madison Apartment is $399 at West Oaks Estate.

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 $1,120 at Northridge Estates/Perfect Location.

What is the most affordable Madison Three Bedroom Apartment?

The best deal on a cheap Madison Three Bedroom Apartment rental is at Falls Park Apartments and starts from $1,102.

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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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.