Cheap Apartments for Rent in Madison, SD from $600 (46 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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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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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
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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

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.

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Falls Park Apartments
3 to 4 Bedroom Apartments

Falls Park Apartments

3601 N Career AveSioux Falls, SD 57107
  • Utilities Included
Showing Results 1-46, Page 1 of 1

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 Egan Avenue Residence priced from $645. 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
Egan Avenue ResidenceBedroom C1BR,1BA$645
Yukon at BensonStudioStudio,1BA$795
University Hills VillageUnit Type K3 - Studio/1 BA - Non SmokingStudio,1BA$825
Auburn Manor ApartmentsOne Bedroom1BR,1BA$835
Lofts at Park HillStudio - AStudio,1BA$890
Aspen Commons1 Bedroom 1 Bathroom1BR,1BA$900
Latitude 44The CoveStudio,1BA$955
Trails HeadDriftwoodStudio,1BA$960
Jefferson Reserve Apartments1 Bed 1 Bath Apartment1BR,1BA$980
Lux North1 Bedroom 1 Bathroom Accessible1BR,1BA$995

Best Value Apartments for Rent in Madison, SD and Nearby

As of June 13, 2026 the best value apartment in the Madison area is the $0.99 price per square foot 909 6th Ave Model at 909 6th Ave in the in the Downtown Brookings neighborhood starting from $2,910. The second greatest value Madison apartment is the 3 Bedroom 2.5 Bathroom Townhome Model at Pinnacle Townhomes starting at $1,865 with a $1.01 price per square foot in the Northwest Sioux Falls 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.
909 6th Ave909 6th Ave6BR,2BA$0.99
Pinnacle Townhomes3 Bedroom 2.5 Bathroom Townhome3BR,2.5BA$1.01
1609 6th St1609 6th Street4BR,2BA$1.22
110 W 10th StModel B3BR,2BA$1.19
Lake Area Townhomes2 Bedroom2BR,2.5BA$1.03
The AtlasUpper Level- 3 Bedroom 2 Bathroom3BR,2BA$1.13
Maple Pass Apartments & TownhomesRent Special - 3 Bed, 2 Bath Apts3BR,2BA$1.08
Marion Crossing Apartments2 Bed 1 Bath Apartment2BR,1BA$1.02
Northridge Estates/Perfect LocationTwo Bedroom/No Pets2BR,2BA$1.11
Thelin Center2 Bedroom 2 Bathroom2BR,2BA$1.24

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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Real 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.

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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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Best Local Schools in
Madison, SD

School data provided by Great Schools

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

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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 $645 at Egan Avenue Residence.

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 $1,130 at Thelin Center.

What is the most affordable Madison Three Bedroom Apartment?

The best deal on a cheap Madison Three Bedroom Apartment rental is at Maple Pass Apartments & Townhomes and starts from $1,295.

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 How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide article

How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide

Written by: Robin Stewart

Evaluating rental properties for clients draws many parallels to house-hunting. Whether an apartment, loft, townhouse, or other rental, finding the right place means finding “home” for your client.

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Pet-Friendly Renting: Everything You Need to Know Before You Move

Written by: Christine Leonard, Esq.

For so many of us, pets are the best companions and a big part of our lives. For this reason, a pet-friendly house or apartment is often a very important - and nonnegotiable - part of a move.

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Creative Ways Developers Reimagine Retail Spaces as Residential Units

Written by: Robin Stewart

Adaptive reuse is when a commercial property is converted and repurposed. The real estate industry has embraced a growing number of these projects.

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Neighborhood and Market Insights: How to Choose the Right Area to Rent

Written by: Robin Stewart

Apartment-hunting can be a gargantuan task. Renters have a wish list of items—some luxuries, some necessities—but finding what you seek in the right place is perhaps the most important part of the journey.