Cheap Apartments for Rent in Madison, WI from $400 (766 Rentals)

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

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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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 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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Madison, WI Local Guide

Photo of Justin Habersaat - Editing Staff
Written By:
Justin Habersaat
Editing Staff

Cheapest Neighborhoods for Apartments in Madison, WI

Pricing Updated: 10/15/2025

Current apartment rentals in the Madison, WI area range in price from $482 to $9,115 with an overall median price of $3,563. The three Madison neighborhoods with the lowest median rent pricing are Whitetail Ridge at $975, Sherman Village at $975, and Berkeley Oaks at $925. 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$1,350$97547
Sherman Village$1,412$97525
Berkeley Oaks$1,437$92577
Lakeview Hills$1,450$97535
Lerdahl Park$1,450$97537
Mendota Hills$1,450$97547
North Lake Mendota$1,450$1,00033
Trinity Park$1,450$97543
Brentwood Village$1,600$975120
Liberty Square$1,695$641102

Cheapest Available Madison Apartments for Rent

 

The cheapest available apartment rental in Madison, WI is a 3 Beds unit found at 427-431 W Doty in the The Isthmus neighborhood priced from $622. Oak Ridge at University Park Senior Apartments in the West Side neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $646. Here is today’s list of the most affordable Madison apartments for rent:

Apartment ListingModel NameBed/BathPriced From
427-431 W DotyThree Bed3BR,1BA$622
Oak Ridge at University Park Senior ApartmentsB1BR,1BA$646
Hellenbrand ApartmentsStudio--111 S BassettStudio,1BA$705
Windbriar Apartments1 Bed, 1 bath1BR,1BA$750
Pirate Island Apartments25' studioStudio,1BA$750
Metropolitan Apartments403Studio,1BA$800
Oakridge ApartmentsStudioStudio,1BA$800
Nature Valley ApartmentsStudioStudio,1BA$895
632 Howard Place632 Howard Place - 304Studio,1BA$895

Best Value Apartments for Rent in Madison, WI

As of October 15, 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 2B/1.5bath Model at Glendale Townhomes starting at $1,785 with a $1.19 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
Glendale Townhomes2B/1.5bath2BR,2BA$1.19
1509 Spaight St1509 Spaight St1BR,1BA$0.80
Collegiate Campus Student ApartmentsApartments Available Now4BR,2BA$0.68
Maple Grove CommonsUnit 1-207 - Income Restricted2BR,1BA$1.18
Gargano Propertiesone1BR,1BA$0.88
229 Lakelawn *Student Housing*4 Bedroom 26-27 School Year / Room4BR,3BA$1.18
345 W Doty St, Unit 2345 W Doty St2BR,1BA$0.78
Executive East Apartments1 Bedroom/1 Bathroom1BR,1BA$1.16
Windbriar Apartments1 Bed, 1 bath1BR,1BA$1.12

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 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 $895.

What is the price of a cheap apartment in Madison?

The cheapest apartment in Madison is Oak Ridge at University Park Senior Apartments which is listed at $646, while the average apartment in Madison costs $3,563.

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 5,146 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 $524 which is $3,039 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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How to Negotiate Your Apartment Lease and Save Money

Written by: Christine Leonard, Esq.

Everything is a negotiation in real estate! 

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The Rental Move-In Inspection Checklist: A Guide for Renters

Written by: Trey Huguley

The move-in inspection checklist is a crucial tool for both tenants and landlords. This checklist, provided by the team at ApartmentHomeLiving.com, helps document the condition of an apartment at the time of move-in.

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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.