Cheap Apartments for Rent in Madison, WI from $400 (838 Rentals)

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

What Does “Rent Burdened” Mean? How Much Rent Is Too Much

Learn the official definition (spending 30% or more of your gross income on housing) and how to calculate your exact rent-to-income ratio. This guide offers expert tips on factoring in total housing costs (including utilities and fees) and budgeting accurately to avoid unnecessary financial strain.

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1219 Regent St
$875 - $3,600
Total Monthly Price

Total Monthly Price

Base Rent
$875 - $3,600
Total Monthly Price
$875 - $3,600
4 Bedroom Apartment Available Aug 15

1219 Regent St

1219 Regent StMadison, WI 53715
Furnished
  • Smoke Free

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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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: 04/16/2026

Current apartment rentals in the Madison, WI area range in price from $475 to $14,130 with an overall median price of $3,422. The three Madison neighborhoods with the lowest median rent pricing are Whitetail Ridge at $900, Glacier Crossing at $875, and Sherman Village at $900. 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$1,449$90056
Glacier Crossing$1,450$87536
Sherman Village$1,455$90028
North Lake Mendota$1,457$90033
Cherokee Park$1,575$90096
Liberty Square$1,600$87575
Sun Prairie Business Park$1,662$87547
Village View Heights$1,687$87595
Emerald Terrace$1,775$875115
Orchard Ridge$1,855$641309

Cheapest Available Madison Apartments for Rent

 

The cheapest available apartment rental in Madison, WI is a 1 Bed unit found at Village on Main priced from $623. 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
Village on Main1 Bedroom D1BR,1BA$623
The CanyonsOne Bedroom Income Restricted-StyleB1BR,1BA$641
The Heights1 BED 1 BA - Income Restricted 30%1BR,1BA$641
Westminster Senior Apartments1 Bed/ 1 Bath1BR,1BA$668
Humbucker Apartments4x2-12254BR,2BA$799
Oakridge ApartmentsStudioStudio,1BA$800

Best Value Apartments for Rent in Madison, WI

As of April 16, 2026 the best value apartment in the Madison area is the $1.09 price per square foot 855 E Gorham St Model at 855 E Gorham St, Unit 855 in the in the The Isthmus neighborhood starting from $2,625. The second greatest value Madison apartment is the 9 Obrien Ct Model at 9 Obrien Ct, Unit 09 O’Brien starting at $2,295 with a $0.96 price per square foot in the 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.
855 E Gorham St, Unit 855855 E Gorham St4BR,2BA$1.09
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$0.80
Klassik3x2 TH3BR,2BA$1.06
Evia ApartmentsC12BR,1.5BA$1.00
Collegiate Campus Apartments3 Bedroom 2 Bath Lake Views (7th/8th Floor)3BR,2BA$0.74
PMM + MS10 Sherman Terr1BR,1BA$1.12
930 S Brooks St, Unit 3930 S Brooks St2BR,1BA$0.91
The ShieldA21BR,1BA$1.09

10 Hidden Costs of Renting You Should Budget for Before Signing a Lease

Avoid financial stress when renting. Learn about the 10 most common hidden costs—from pet fees to utilities—you must budget for before you sign a lease.

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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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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 $800.

What is the price of a cheap apartment in Madison?

The cheapest apartment in Madison is Village on Main which is listed at $623, while the average apartment in Madison costs $3,422.

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 12,249 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 $573 which is $2,849 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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What Does “Rent Burdened” Mean? How Much Rent Is Too Much

Written by: Lauren Harrington

This article draws from first-hand renter experiences and recurring financial challenges reported after moving in.

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Maximizing Your Refund: Essential Tax Tips for Renters

Written by: Christine Leonard, Esq.

Other than tax professionals, I can’t think of anyone who looks forward to tax season. For everybody else, April is a stressful month to collect information and meet deadlines.

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18 Must-Ask Rental Tour Questions That Reveal the Truth about a Property

Written by: Lauren Harrington

Renting your next home can feel thrilling and overwhelming at the same time.