Cheap Apartments for Rent in Madison, SD from $645 (42 Rentals)

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Evergreen Estates
2 Bedroom Apartments

Evergreen Estates

1005 NE 4th StMadison, SD 57042
  • Utilities Included

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.

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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.

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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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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 440 S Western Ave
$750 - $775
1 Bedroom Rentals
Available Now
Cost Per Sq.Ft.

440 S Western Ave

Sioux FallsSD57104
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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

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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1009 Southland Ln
1 to 2 Bedroom Apartments

1009 Southland Ln

1009 Southland LnBrookings, SD 57006
  • Utilities Included
Showing Results 1-42, 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. Crooks Reserve has the second lowest priced unit, which is a 1 Bed apartment currently listed from $770. Here is today’s list of the most affordable Madison apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Egan Avenue ResidenceBedroom C1BR,1BA$645
Crooks Reserve1 Bedroom 1 Bathroom Apartment1BR,1BA$770
Aspen CommonsStudioStudio,1BA$800
Auburn Manor ApartmentsOne Bedroom1BR,1BA$835
Lake Area Townhomes1 Bedroom1BR,1BA$855
University Hills VillageK# Unit - Studio/1 BA - Non-SmokingStudio,1BA$875
Lux North1 Bedroom 1 Bathroom1BR,1BA$945
Parkview Apartments and Townhomes2 bedroom apartment2BR,1BA$950
Latitude 44The CoveStudio,1BA$955
Trails HeadDriftwoodStudio,1BA$960

Best Value Apartments for Rent in Madison, SD and Nearby

As of September 12, 2026 the best value apartment in the Madison area is the $1.18 price per square foot 3 Bedroom 2.5 Bathroom Townhome Model at Pinnacle Townhomes in the in the Northwest Sioux Falls neighborhood starting from $2,170. The second greatest value Madison apartment is the 1 Bedroom Model at Lake Area Townhomes starting at $855 with a $0.72 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$1.18
Lake Area Townhomes1 Bedroom1BR,1BA$0.72
Marion Crossing Apartments2 Bed 1 Bath Apartment2BR,1BA$1.01
100 W 10th St2x1.52BR,1.5BA$1.09
Jefferson Reserve Apartments3 Bed 2 Bath Apartment3BR,2BA$1.17
West Oaks Estate2 bd, 2 ba Lower Level Unit2BR,2BA$1.06
Campus View2 Bed + 2 Bath2BR,2BA$1.20
Thelin Center2 Bedroom 2 Bathroom2BR,2BA$1.22
Benson Village Townhomes1 Bedroom, 1.5 Bathroom1BR,1.5BA$1.17
Parkview Apartments and Townhomes2 bedroom apartment2BR,1BA$1.21

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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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.

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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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Madison, SD

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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 Crooks Reserve listed at $775.

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 $950 at Parkview Apartments and Townhomes.

What is the most affordable Madison Three Bedroom Apartment?

The best deal on a cheap Madison Three Bedroom Apartment rental is at Jefferson Reserve Apartments and starts from $1,275.

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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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.

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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.

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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.

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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.