Cheap Apartments for Rent in Madison, WI from $400 (540 Rentals)

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

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property at 1617 Troy Dr

1617 Troy Dr

MadisonWI53704

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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: 08/30/2025

Current apartment rentals in the Madison, WI area range in price from $513 to $7,277 with an overall median price of $2,407. The three Madison neighborhoods with the lowest median rent pricing are Berkeley Oaks at $925, Lakeview Hills at $975, and Lerdahl Park 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
Berkeley Oaks$1,450$92594
Lakeview Hills$1,450$97560
Lerdahl Park$1,450$97557
Mendota Hills$1,450$97559
North Lake Mendota$1,450$1,03553
Sherman Village$1,450$97550
Trinity Park$1,450$97562
Whitetail Ridge$1,450$95071
Brentwood Village$1,550$975141
Sherman$1,610$950175

Cheapest Available Madison Apartments for Rent

 

The cheapest available apartment rental in Madison, WI is a 1 Bed unit found at Klassik in the Outer Verona neighborhood priced from $656. Hellenbrand Apartments in the The Isthmus neighborhood has the second lowest priced unit, which is a Studio apartment currently listed from $705. Here is today’s list of the most affordable Madison apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Klassik1x11BR,1BA$656
Hellenbrand ApartmentsStudio--111 S BassettStudio,1BA$705
Pres House ApartmentsBedroom A,B,C,D (Individual)4BR,2BA$750
Oakridge ApartmentsStudioStudio,1BA$800
Seven Oaks ApartmentsEffStudio,1BA$875
519 State StStudioStudio,1BA$920
Point Place1/11BR,1BA$925
Nature Valley ApartmentsStudioStudio,1BA$925
Freedom Park1 Bed/ 1 Bath1BR,1BA$950

Best Value Apartments for Rent in Madison, WI

As of August 30, 2025 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 Two-Bedroom (Income Restricted) Model at Heritage Monona Senior Apartments starting at $1,395 with a $0.79 price per square foot in the Pflaum Road 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
Heritage Monona Senior ApartmentsTwo-Bedroom (Income Restricted)2BR,1BA$0.79
229 Lakelawn *Student Housing*6 Bedroom6BR,3BA$0.77
Glendale Townhomes2B/2Bath2BR,2BA$1.20
Woods Edge Townhomes1203-23BR,1.5BA$1.21
Whitcomb Square Senior Apartment Homes (55+)2 Bedroom2BR,2BA$0.93
Broadway-Monona, LLC3x2.5TH3BR,2.5BA$1.06
Pres House ApartmentsBedroom A,B,C,D (Individual)4BR,2BA$0.64
Northern BluffsAmber2BR,1BA$1.22
Executive East Apartments1 Bedroom/1 Bathroom1BR,1BA$1.16

Quick Rent Budget Calculator

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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!"

Pet Friendly Lifestyle
Madison, WI

Ranked #1

Among cities in Wisconsin for Apartment listings with Pet Friendly Amenities.

Pet Friendliness Lifestyle Score

2.5
Pet Friendly

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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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Madison, WI Apartments Map
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Madison, WI Rental Homes Map

Getting Around Madison, WI

Walk Score®

59 / 100

Somewhat Walkable

Some errands can be accomplished on foot

Bike Score®

69 / 100

Bikeable

Some bike infrastructure

Transit Score®

35 / 100

Some Transit

A few nearby public transportation options

What Are Walk Score®, Transit Score®, and Bike Score® Ratings?

  • Walk Score® measures the walkability of any address.
  • Transit Score® measures access to public transit.
  • Bike Score® measures the bikeability of any address.

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 $950.

What is the price of a cheap apartment in Madison?

The cheapest apartment in Madison is Klassik which is listed at $656, while the average apartment in Madison costs $2,407.

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 4,701 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 $393 which is $2,014 cheaper than the average rent for all rentals in Madison.

Expert Rental Resources

Helpful Apartment Articles, How-To's and Tips

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.

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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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Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between

Written by: Christine Leonard, Esq.

For many people, obstacles can arise during the rental application process for a variety of issues.

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The Ultimate Long-Distance Moving Checklist: Tips from a Real Estate Pro

Written by: Christine Leonard, Esq.

Hard truth. Moving is never easy. I’ve done it all – from local moves to cross-country relocations From packing to unpacking the last box, I have found moving to be an exhausting, expensive and stressful experience every time.

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Cash or credit? Understanding the Importance of Credit Score in Real Estate and Renting

Written by: Christine Leonard, Esq.

Throughout the day, think about all the times that you have to pay for something. So many of us reach automatically for a credit card or even our phone for a quick payment.