Cheap Apartments for Rent in Madison, WI from $400 (734 Rentals)

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property at 1617 Troy Dr

1617 Troy Dr

MadisonWI53704
Showing Results 1-50, Page 1 of 15

Madison, WI Local Guide

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Written By:
Justin Habersaat
Editing Staff

Cheapest Neighborhoods for Apartments in Madison, WI

Pricing Updated: 07/13/2025

Current apartment rentals in the Madison, WI area range in price from $550 to $9,645 with an overall median price of $2,433. The three Madison neighborhoods with the lowest median rent pricing are North Lake Mendota at $1,035, Sherman Village at $1,035, and Whitetail Ridge at $950. Here is today’s list of the top 10 neighborhoods with the lowest median pricing for Madison Apartments for rent:

NeighborhoodMedian PriceMin PriceAvailable Units
North Lake Mendota$1,450$1,03517
Sherman Village$1,450$1,03514
Whitetail Ridge$1,450$95026
Cherokee Park$1,512$95024
Lakeview Hills$1,538$1,03521
Lerdahl Park$1,538$1,03517
Mendota Hills$1,538$1,03525
Trinity Park$1,538$1,03524
Berkeley Oaks$1,564$95050
Greenbush$1,752$1,12570

Cheapest Available Madison Apartments for Rent

 

The cheapest available apartment rental in Madison, WI is a 1 Bed unit found at The Canyons in the Far West Side neighborhood priced from $625. 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
The CanyonsOne Bedroom Income Restricted-StyleB1BR,1BA$625
Hellenbrand ApartmentsStudio--111 S BassettStudio,1BA$705
Hub on Campus Madison3X5D33BR,3BA$742
Pres House ApartmentsBedroom A,B,C,D (Individual)4BR,2BA$750
The Limerick Townhomes & Senior ApartmentsTownhome-Floorplan E3BR,2BA$839
The ShieldA21BR,1BA$842
Vivo Living MadisonThe FrankStudio,1BA$925
Madison and MainA3Studio,1BA$925

Best Value Apartments for Rent in Madison, WI

As of July 14, 2025 the best value apartment in the Madison area is the $1.20 price per square foot 2B/2Bath Model at Glendale Townhomes in the in the Pflaum Road neighborhood starting from $1,795. The second greatest value Madison apartment is the 1207-5 Model at Woods Edge Townhomes starting at $1,799 with a $1.24 price per square foot in the Near East Side 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.
Glendale Townhomes2B/2Bath2BR,2BA$1.20
Woods Edge Townhomes1207-53BR,1.5BA$1.24
Whitcomb Square Senior Apartment Homes (55+)2 Bedroom2BR,2BA$1.00
The DerbyTwo Bedroom Income Restricted2BR,2BA$1.05
Pres House ApartmentsBedroom A,B,C,D (Individual)4BR,2BA$0.64
Northern BluffsSandstone3BR,1BA$1.09
ReNew at the GreensPalmer2BR,1BA$1.22
The Wildwood at MainEagle 50%2BR,1BA$1.21
Executive East Apartments1 Bedroom/1 Bathroom1BR,1BA$1.16
240 N Bristol St, Unit #1240 N Bristol St1BR,1BA$1.21

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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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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 $925.

What is the price of a cheap apartment in Madison?

The cheapest apartment in Madison is The Canyons which is listed at $625, while the average apartment in Madison costs $2,433.

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 3,998 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 $436 which is $1,997 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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Roommate Matching: Finding the Right Fit and Avoiding Pitfalls

Written by: Cheryl Bowman

A fantastic way to save money and enjoy a built-in community is to share an apartment. However, a bad roommate situation can turn your dream rental into a nightmare.

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The Art of the Rental Viewing: What to look for during a property tour

Written by: Marie Brown

You’ve scrolled through countless listings, walked through a blur of rentals, and finally found what feels like the one. The pictures? Fantastic. The neighborhood seems just right.

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Know Your Budget: Calculating What You Can Realistically Afford When Renting

Written by: Lauren Harrington

Renting an apartment or house isn’t just about looking through online ads, choosing a few apartments or homes you want to tour, filling out an application, and putting down a deposit. Those things are all necessary and important.