Cheap New Apartments for Rent in Madison, WI from $400 (205 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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Vicino Apartments
$1,061 - $2,375
Total Monthly Price

Total Monthly Price

Base Rent
$1,061 - $2,375
Total Monthly Price
$1,061 - $2,375
Built in 2026Studio to 2 Bedroom Apartments Available Now

Vicino Apartments

1235 Regent StMadison, WI 53715
Pet Friendly
  • Verified
  • Utilities Included
  • Low Income
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Ella
Rent Specials
$1,090 - $1,795Built in 20221 to 2 Bedroom Apartments Available Now

Ella

2860 E Washington AveMadison, WI 53704
Eco-Friendly
  • Verified
  • Utilities Included
  • Low Income

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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Carbon at Union Corners
$1,199 - $1,811
Total Monthly Price

Total Monthly Price

Base Rent
$1,199 - $1,811
Total Monthly Price
$1,199 - $1,811
Built in 20172 to 3 Bedroom Apartments Available Now

Carbon at Union Corners

2418 Winnebago StMadison, WI 53704
Pet Friendly
  • Verified
  • Utilities Included
  • Low Income

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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Garver Point
Rent Specials
$1,300 - $2,640
Total Monthly Price

Total Monthly Price

Base Rent
$1,300 - $2,640
Total Monthly Price
$1,300 - $2,640
Built in 2019Studio to 2 Bedroom Apartments Available Now

Garver Point

171 S Fair OaksMadison, WI 53704
Family Friendly
  • Verified
  • Customer Reviewed
  • Smoke Free

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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Nexus at Union Corners
$1,350 - $3,285
Total Monthly Price

Total Monthly Price

Base Rent
$1,350 - $3,285
Total Monthly Price
$1,350 - $3,285
Built in 2022Studio to 3 Bedroom Apartments Available Now

Nexus at Union Corners

2521 East Washington AveMadison, WI 53704
Transit Friendly
  • Verified
  • Customer Reviewed
  • 3D Tour

Navigating the Rental Market: Tips for First-Time Renters

Entering the rental market? Learn these simple tips and strategies to avoid common pitfalls and make confident choices. Rent with peace of mind.

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Madison, WI Local Guide

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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Real Estate and Rental Term Glossary | ApartmentHomeLiving.com Renter University

From the letter A all the way to the letter Z, the Real Estate and Rental Term Glossary from the content team at ApartmentHomeLiving.com provides our visitors and shoppers with a little clarity and helpful guidance in navigating the real estate world through definitions and explainers for the top subjects and terms that someone may come across during the leasing, buying, or selling process.

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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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Remember the 3 Rules of Real Estate:
Location, Location, Location!

Explore Madison, WI Rentals by Map

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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 $925.

What is the price of a cheap apartment in Madison?

The cheapest apartment in Madison is The Landing at 818 which is listed at $612, while the average apartment in Madison costs $3,013.

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 11,900 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 $601 which is $2,412 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.

Helpful Local Expert Guides

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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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Lakeshore to Lecture Hall: Finding Your Perfect Student Apartment in Madison, WI

Written by: Mike Heuer

I am Mike, your guide to student housing in the Greater Madison, Wisconsin, area. Madison is a terrific city that also is the Capital of Wisconsin.

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An Insiders Guide to 6 Reasons Why Locals Love Renting in Madison, Wisconsin

Written by: Mike Heuer

Madison is Wisconsin’s capital city and its second-largest city, with a population of more than 260,000.

Articles, How-To's, and Tips

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Neighborhood and Market Insights: How to Choose the Right Area to Rent

Written by: Robin Stewart

Apartment-hunting can be a gargantuan task. Renters have a wish list of items—some luxuries, some necessities—but finding what you seek in the right place is perhaps the most important part of the journey.

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A Seasoned Property Manager's Step-by-Step Guide to Getting Your Deposit Back

Written by: Lauren Harrington

I’m going to talk with you as a seasoned property manager and friend. So, let’s start with your security deposit. I want you to think about this guide as insider information. You deserve your deposit back.

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Expert Solutions for Creating the Perfect Work-From-Home Apartment Layouts

Written by: Lauren Harrington

This article is based on first-hand experience managing apartment communities and helping renters adapt to their spaces after moving in.

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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.