Cheap Apartments for Rent in Madison, WI from $567 (978 Rentals)

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

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$759 - $1,950
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$759 - $1,950
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$759 - $1,950
Studio to 1 Bedroom Apartments Available Now

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131 E Lakeside StMadison, WI 53715
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Carbon
$771 - $1,943
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$771 - $1,943
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$771 - $1,943
1 to 3 Bedroom Apartments Available Now

Carbon

2418 Winnebago StMadison, WI 53704
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Finding Your Place in Madison: Neighborhoods Close to the City’s Biggest Jobs

Finding the right Madison apartment near work is easy. Browse our guide to the best neighborhoods for professionals, from State-Langdon to Bay Creek.

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property at 522 W Wilson St

$850

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$850
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$850

Studio, 1 Bath Home for Rent

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522 W Wilson St

MadisonWI53703

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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Freedom Park Apartments
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$925 - $1,350
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$925 - $1,350
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$925 - $1,350
1 to 2 Bedroom Apartments Available Now

Freedom Park Apartments

3802 Lien RdMadison, WI 53704
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Madison's Best Affordable Neighborhoods

Learn about Madison and the best places to live with original content written by our Local Expert Mike Heuer

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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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property at 1617 Troy Dr

$999 - $1,175

Studio To 1 Bedroom Rentals

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1617 Troy Dr

MadisonWI53704

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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Madison, WI Local Guide

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Written By:
Justin Habersaat
Editing Staff

Cheapest Neighborhoods for Apartments in Madison, WI

Pricing Updated: 08/30/2026

Current apartment rentals in the Madison, WI area range in price from $560 to $36,000 with an overall median price of $1,750. The three Madison neighborhoods with the lowest median rent pricing are Whitetail Ridge at $1,250, South Central Side at $1,389, and Liberty Square at $1,399. 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$1,250$56761
South Central Side$1,389$875128
Liberty Square$1,399$66398
Sherman Village$1,400$99935
Sun Prairie Business Park$1,420$66370
East Side$1,445$1,10056
Glacier Crossing$1,445$66376
North Lake Mendota$1,450$99936
Emerald Terrace$1,450$663135
Village View Heights$1,450$663111

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 $595. 148-150 E Gorham St in the The Isthmus neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $600. 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$595
148-150 E Gorham St148-150 E Gorham St - 3F Ro...1BR,1BA$600
The CanyonsOne Bedroom Income Restricted-StyleB1BR,1BA$641
Humbucker Apartments1BR/2.0BA1BR,2BA$799
Merchant Place2x2-SS2BR,2BA$841
The ShieldA21BR,1BA$842
509 N Lake StOne-Bed1BR,1BA$850
Theory MadisonD94BR,4BA$865
The BaehronStudio UnfurnishedStudio,1BA$895
Courtyard Apartments0BR/1.0BAStudio,1BA$895

Best Value Apartments for Rent in Madison, WI

As of August 30, 2026 the best value apartment in the Madison area is the $1.01 price per square foot Redspire Model at 6820-6850 Redspire Ln in the in the Lake Windsor neighborhood starting from $2,228. The second greatest value Madison apartment is the 4 Bed 2 Bath Model at 111 E Gorham St starting at $700 with a $0.44 price per square foot in the The Isthmus 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.
6820-6850 Redspire LnRedspire3BR,2.5BA$1.01
111 E Gorham St4 Bed 2 Bath4BR,2BA$0.44
MANCHESTER TOWNHOMESA-Manchester1BR,1.5BA$1.13
2009-2011 University Ave1BR/2.0BA1BR,2BA$0.67
Whitcomb Square Senior Apartment Homes (55+)2 Bedroom2BR,2BA$0.92
Rolling PrairieThree Bedroom3BR,1BA$1.14
Collegiate Campus Apartments4 Bedroom 2 Bath City Views (7th/8th Floor)4BR,2BA$0.61
Merchant Place2x2-SS2BR,2BA$0.80
65 Sunfish Ct2BR/1.0BA2BR,1BA$1.12
The CanyonsOne Bedroom Income Restricted-StyleB1BR,1BA$0.90

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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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 $895.

What is the price of a cheap apartment in Madison?

The cheapest apartment in Madison is The Landing at 818 which is listed at $595, while the average apartment in Madison costs $1,750.

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 11,697 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 $578 which is $1,172 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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Finding Your Place in Madison: Neighborhoods Close to the City's Biggest Jobs

Written by: Mike Heuer

Madison, Wisconsin, is three communities in one. It is a college town that is home to the flagship university in the University of Wisconsin system.

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An Insider's Guide to 6 Reasons Why Locals Love Renting in Madison, Wisconsin

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

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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.

decorative image for The Expert's Guide To 10 Budget-Friendly Neighborhoods to Rent in Madison article

The Expert's 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.

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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Practical Tips for Renters: How to Identify a Great Rental and Avoid Red Flags

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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

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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.

decorative image for Renters Insurance 101: What It Is, What It Covers, and Why You Need It article

Renters Insurance 101: What It Is, What It Covers, and Why You Need It

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Insurance seems to be a part of life. In some states, having insurance is the law, as is the case for automobile insurance. Renters are no exception.