Cheap Apartments for Rent in the Capitol Neighborhood of Madison, WI from $400 (161 Rentals)

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Search the lowest-cost Apartments available for rent right now in the Capitol area of 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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property at 414 State St

414 State St

MadisonWI53703

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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Capitol, Madison, WI Local Guide

Cheapest Available Capitol Apartments for Rent

 

The cheapest available apartment rental in the Capitol area of Madison, WI is a Studio unit found at Hellenbrand Apartments priced from $705. Metropolitan Apartments has the second lowest priced unit, which is a Studio apartment currently listed from $800. Here are the most affordable Capitol apartments for rent in Madison, WI:

Apartment ListingModel NameBed/BathPriced From
Hellenbrand ApartmentsStudio--111 S BassettStudio,1BA$705
Metropolitan Apartments403Studio,1BA$800
632 Howard Place632 Howard Place - 304Studio,1BA$895
Gargano Propertiesone1BR,1BA$900
Courtyard Apartments0BR/1.0BAStudio,1BA$985
106 S Hancock StStudioStudio,1BA$990
Capital Park ApartmentsEfficiencyStudio,1BA$999
8Twenty Park1 Bed- Income Restriction 50%1BR,1BA$1,086
518 W Main St1BR/1BA1BR,1BA$1,095

Best Value Apartments for Rent in Capitol, WI

As of October 13, 2025 the best value apartment in the Capitol area is the $1.48 price per square foot 520 E Johnson St Model at 520 E Johnson St, Unit 1 in the in the The Isthmus neighborhood starting from $1,850. The second greatest value Capitol apartment is the Bedroom (Shared) Model at Pres House Apartments starting at $1,700 with a $1.37 price per square foot in the Downtown Madison neighborhood. Here is today’s list of the best values for Capitol apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
520 E Johnson St, Unit 1520 E Johnson St2BR,1BA$1.48
Pres House ApartmentsBedroom (Shared)4BR,2BA$1.37
8Twenty Park2 Bedroom, Market Rate2BR,2BA$1.66
22 N Hancock StTwo-Bedroom2BR,1BA$1.53
Hub on Campus Madison3X23BR,2BA$1.57
Gargano Propertiesone1BR,1BA$0.88
229 Lakelawn *Student Housing*4 Bedroom 26-27 School Year / Room4BR,3BA$1.18
1042 Erin St, Unit 11042 Erin St1BR,1BA$1.30
Collegiate Campus Student Apartments3BR/2BA Lake View (2026-2027)3BR,2BA$0.95
Towers on State2BR/2BA - B42BR,2BA$1.62

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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Pet Friendly Lifestyle
Capitol, Madison, WI

Ranked #7

Among cities in Wisconsin for Apartment listings with Pet Friendly Amenities.

Pet Friendliness Lifestyle Score

4.0
Pet Friendly

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Lifestyle Ratings

ApartmentHomeLiving brings you Lifestyle Ratings of rentals in cities across the United States including Capitol, Madison, and the greater Madison area. LifeStyle Ratings are a useful tool for comparing and sorting apartments and neighborhoods when choosing your rental home. This takes in many factors including searching for the best amenities, and easy access to the parks, transit availability, pet-friendly communities, places to raise kids, and other valuable search options. Find Lifestyle Search in the filter options (above). Happy Searching!

Frequently Asked Questions about Cheap Capitol Apartments

What is a cheap apartment in Capitol?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Capitol is under $1,095.

What is the price of a cheap apartment in Capitol?

The cheapest apartment in Capitol is Gargano Properties which is listed at $900, while the average apartment in Capitol costs $9,115.

What types of apartments are the cheapest in Capitol?

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 158 regular apartments in Capitol 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 Capitol?

Cheap apartments in Capitol have an average cost of $1,483 which is $7,632 cheaper than the average rent for all rentals in Capitol.

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.

decorative image for Experts Guide To 10 Budget-Friendly Neighborhoods to Rent in Madison article

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.