Cheap Apartments for Rent in Madison, WI from $300 (686 Rentals)

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

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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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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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'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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Smart Renter's Guide: Calculating Affordable Rent & Housing Costs

Wondering how to determine your rental budget? This comprehensive guide covers everything from the 30% rule to hidden fees and effective budgeting strategies.

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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: 01/16/2026

Current apartment rentals in the Madison, WI area range in price from $482 to $12,000 with an overall median price of $3,985. The three Madison neighborhoods with the lowest median rent pricing are Greentree at $641, South West Side at $1,100, and Orchard Ridge at $641. Here is today’s list of the top 10 neighborhoods with the lowest median pricing for Madison Apartments for rent:

NeighborhoodMedian PriceMin PriceAvailable Units
Greentree$1,715$641427
South West Side$1,716$1,100114
Orchard Ridge$1,740$641360
Sun Prairie Business Park$1,750$64152
Glacier Crossing$1,795$64145
Liberty Square$1,795$64186
Village View Heights$1,795$64196
Meadowood$1,800$641449
Emerald Terrace$1,842$641142
Cherokee Park$1,905$900154

Cheapest Available Madison Apartments for Rent

 

The cheapest available apartment rental in Madison, WI is a 1 Bed unit found at Eagle Harbor in the Near East Side neighborhood priced from $613. 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
Eagle Harbor1 Bedroom 1 Bathroom1BR,1BA$613
The CanyonsOne Bedroom Income Restricted-StyleB1BR,1BA$641
Klassik1x11BR,1BA$677
Broadway Lofts and Townhomes2x22BR,2BA$784
Oakridge ApartmentsStudioStudio,1BA$800
Spring Harbor ApartmentsstudioStudio,1BA$875
Uno Terrace3x23BR,2BA$884
106 S Hancock StStudioStudio,1BA$890
Nature Valley ApartmentsStudioStudio,1BA$895

Best Value Apartments for Rent in Madison, WI

As of January 16, 2026 the best value apartment in the Madison area is the $0.48 price per square foot 3x2TH-MKT Model at Prairie Creek in the starting from $2,376. The second greatest value Madison apartment is the 5910 Monona Dr Model at 5910 Monona Dr, Unit Monona Apt starting at $1,955 with a $0.78 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.
Prairie Creek3x2TH-MKT3BR,2BA$0.48
5910 Monona Dr, Unit Monona Apt5910 Monona Dr2BR,2BA$0.78
9 Obrien Ct, Unit 09 O’Brien9 Obrien Ct4BR,1.5BA$0.96
6820-6850 Redspire LnRedspire3BR,2.5BA$1.01
Whitcomb Square Senior Apartment Homes (55+)2 Bedroom2BR,2BA$0.90
514 E Johnson St, Unit 2514 E Johnson St1BR,1BA$1.00
Gargano Propertiesone1BR,1BA$0.88
Collegiate Campus Apartments3 Bedroom 2 Bath Lake Views (7th/8th Floor)3BR,2BA$0.74
Klassik1x11BR,1BA$0.94
The CanyonsOne Bedroom Income Restricted-StyleB1BR,1BA$0.90

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

Moving is tough, especially long-distance. Learn how to minimize stress & expenses with proven strategies from a real estate pro, covering everything from logistics to finances.

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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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Quick Rent Budget Calculator

How much rent can you afford?

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 $895.

What is the price of a cheap apartment in Madison?

The cheapest apartment in Madison is Eagle Harbor which is listed at $613, while the average apartment in Madison costs $3,985.

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 5,680 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 $554 which is $3,431 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.

Articles, How-To's, and Tips

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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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A Renters Guide for Tips on Writing Your Notice for Not Renewing Your Apartment

Written by: Bob Mallory

Packing up everything you own to move is so stressful for many that ending your apartment lease can feel like a small or unimportant task. Ending your lease involves more than simply turning over your keys on the last day.

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Renting with Roommates: Realistic Expectations for Shared Lease

Written by: Christine Leonard, Esq.

Given the high costs for housing, I have found that many people are looking for a roommate to share expenses. These arrangements can increase opportunities for more desirable and larger spaces.

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Apartment Common Area Rules: What Renters Need to Know

Written by: Christine Leonard, Esq.

Back in the day when I rented one of my first apartments, the property didn’t even have laundry in the building. Now, rental properties are often competing against each other to provide the best amenities.