Cheap Apartments for Rent in Madison, WI from $400 (854 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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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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1001 Rutledge Ct, Unit 2
$1,000
Total Monthly Price

Total Monthly Price

Base Rent
$1,000
Total Monthly Price
$1,000
1 Bedroom Apartment Available Sep 1

1001 Rutledge Ct, Unit 2

1001 Rutledge CtMadison, WI 53703
Affordability
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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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Madison, WI Local Guide

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Written By:
Justin Habersaat
Editing Staff

Cheapest Neighborhoods for Apartments in Madison, WI

Pricing Updated: 05/31/2026

Current apartment rentals in the Madison, WI area range in price from $560 to $14,130 with an overall median price of $3,013. The three Madison neighborhoods with the lowest median rent pricing are Whitetail Ridge at $925, Sherman Village at $975, and North Lake Mendota at $975. Here is today’s list of the top 10 neighborhoods with the lowest median pricing for Madison Apartments for rent:

NeighborhoodMedian PriceMin PriceAvailable Units
Whitetail Ridge$1,487$92552
Sherman Village$1,550$97525
North Lake Mendota$1,551$97529
Cherokee Park$1,575$92570
Emerald Terrace$1,712$663120
Gateway Dane$1,750$663128
Smiths Crossing$1,850$663175
Orchard Ridge$1,899$641256
Meadowood$1,900$641296
South Central Side$1,935$875106

Cheapest Available Madison Apartments for Rent

 

The cheapest available apartment rental in Madison, WI is a 1 Bed unit found at The Landing at 818 in the Liberty Square neighborhood priced from $612. The Canyons in the Far West Side neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $641. Here is today’s list of the most affordable Madison apartments for rent:

Apartment ListingModel NameBed/BathPriced From
The Landing at 8181 Bedroom A1BR,1BA$612
The CanyonsOne Bedroom Income Restricted-StyleB1BR,1BA$641
45 N Orchard St0x1-200Studio,1BA$782
Rise-Madison2 Bed / 2 Bath2BR,2BA$784
Freedom Ring Apartments724 - 1 Bed / 1 Bath1BR,1BA$875
Uno Terrace3x23BR,2BA$884
The BaehronStudio UnfurnishedStudio,1BA$895
632 Howard Place632 Howard Place - 303Studio,1BA$895
Normandy Square 55+One Bedroom (Income Restricted 40%)1BR,1BA$922
Liberty Valley Apartments1009 - 1 Bed/ 1 Bath1BR,1BA$925

Best Value Apartments for Rent in Madison, WI

As of May 31, 2026 the best value apartment in the Madison area is the $0.96 price per square foot 9 Obrien Ct Model at 9 Obrien Ct, Unit 09 O’Brien in the in the East Side neighborhood starting from $2,295. The second greatest value Madison apartment is the Redspire Model at 6820-6850 Redspire Ln starting at $2,228 with a $1.01 price per square foot in the Lake Windsor 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.
9 Obrien Ct, Unit 09 O’Brien9 Obrien Ct4BR,1.5BA$0.96
6820-6850 Redspire LnRedspire3BR,2.5BA$1.01
5910 Monona Dr, Unit Monona Apt5910 Monona Dr2BR,2BA$1.10
1049 Spaight St, Unit Apartment 31049 Spaight St1BR,1BA$0.56
Whitcomb Square Senior Apartment Homes (55+)2 Bedroom2BR,2BA$0.92
Timber Bluff2 Bed / 2 Bath2BR,2BA$1.19
Chapter at Madison4BR/3BA - D14BR,3BA$0.81
Rolling PrairieThree Bedroom3BR,1BA$1.14
Freedom Park Apartments1721 - 2 Bed / 1 Bath2BR,1BA$1.10
Varsity Campus Apartments4-Bedroom, 2-Bath4BR,2BA$1.18

Lakeshore to Lecture Hall: Finding Your Perfect Student Apartment in Madison, WI

Discover the best student housing neighborhoods for renting in Madison, Wisconsin! This guide covers apartments near the University of Wisconsin-Madison, Edgewood University, Herzing University, and Madison Area Technical College, detailing locations like Regent, Shorewood Hills, Dudgeon-Monroe, and more for your perfect college home.

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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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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 Overview

It is hard to find a more All-American city than Madison, beautifully situated on an isthmus between Lake Mendota and Lake Monona. Madison is the second largest city in Wisconsin, behind Milwaukee, and is the state capital as well as home of the well-respected University of Wisconsin-Madison. Madison is clean and well-laid out with a low unemployment rate and low crime rate that makes it a great place to live and work for both families and young professionals. From farmers markets to festivals to sports to arts and recreation Madison offers something for everybody to enjoy. More than half a million people live in homes and apartments in Madison and the surrounding metro area.

Why live in Madison, WI?

"In Madison you get the best of two worlds with the city the center of Wisconsin state politics and also the benefits of living in a ""college town"". Both the state government and the University of Wisconsin-Madison provide good job opportunities to residents. Madison has one of the highest concentrations of college grads in the country making it a ""smart city"" to live in. Madison promotes a healthy lifestyle with year-round recreation activities from ice skating and cross-country skiing in the winter to boating and hiking in the summer. Madison is home to a vibrant music and performing arts scene. No matter what you like to do for fun and adventure, Madison apartments make an excellent place to call home!"

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

Explore Madison, WI Rentals by Map

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See the most popular apartments and homes in Madison, WI

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Frequently Asked Questions about Cheap Madison Apartments

What is a cheap apartment in Madison?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Madison is under $925.

What is the price of a cheap apartment in Madison?

The cheapest apartment in Madison is The Landing at 818 which is listed at $612, while the average apartment in Madison costs $3,013.

What types of apartments are the cheapest in Madison?

Student, low-income, and by-the-bed apartments are typically the cheapest rentals in most cities, though they require qualifying criteria to rent. There are 11,900 regular apartments in Madison that we think qualify as ‘cheap apartments’ that do not have special requirements to apply to rent.

How do the prices of cheap apartments compare to the average apartment in Madison?

Cheap apartments in Madison have an average cost of $601 which is $2,412 cheaper than the average rent for all rentals in Madison.

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.

Helpful Local Expert Guides

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Experts Guide To 10 Budget-Friendly Neighborhoods to Rent in Madison

Written by: Mike Heuer

I’m Mike, your ApartmentHomeLiving.com local expert for Madison, Wisconsin. I lived and worked in Madison for several years before career opportunities took me elsewhere.

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Lakeshore to Lecture Hall: Finding Your Perfect Student Apartment in Madison, WI

Written by: Mike Heuer

I am Mike, your guide to student housing in the Greater Madison, Wisconsin, area. Madison is a terrific city that also is the Capital of Wisconsin.

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An Insiders Guide to 6 Reasons Why Locals Love Renting in Madison, Wisconsin

Written by: Mike Heuer

Madison is Wisconsin’s capital city and its second-largest city, with a population of more than 260,000.

Articles, How-To's, and Tips

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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.

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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.