Cheap Apartments for Rent in the Carpenter-Ridgeway Neighborhood of Madison, WI from $600 (95 Rentals)

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Search the lowest-cost Apartments available for rent right now in the Carpenter-Ridgeway area of Madison.

property at 1617 Troy Dr

1617 Troy Dr

MadisonWI53704

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Carpenter-Ridgeway, Madison, WI Local Guide

Cheapest Available Carpenter-Ridgeway Apartments for Rent

 

The cheapest available apartment rental in the Carpenter-Ridgeway area of Madison, WI is a Studio unit found at Nature Valley Apartments priced from $925. Freedom Park has the second lowest priced unit, which is a 1 Bed apartment currently listed from $950. Here are the most affordable Carpenter-Ridgeway apartments for rent in Madison, WI:

Apartment ListingModel NameBed/BathPriced From
Nature Valley ApartmentsStudioStudio,1BA$925
Freedom Park1 Bed/ 1 Bath1BR,1BA$950
Madison Mayfair Apartments1 Bedroom1BR,1BA$1,000
The Life at Madison Grove2 BED 1 BATH2BR,1BA$1,000
Ridgeview Heights ApartmentsLrg. 1BR/1BA1BR,1BA$1,040
Eagle Harbor2 Bedroom 2 Bathroom2BR,2BA$1,064
Hooker Avenue ApartmentsStudioStudio,1BA$1,075
The Grove ApartmentsIncome Restricted - One Bed - 50%1BR,1BA$1,133
The Oscar Family ApartmentsIncome Restricted - One Bedroom 50%1BR,1BA$1,133
Monona LakeviewImperial StudioStudio,1BA$1,150

Best Value Apartments for Rent in Carpenter-Ridgeway, WI

As of July 30, 2025 the best value apartment in the Carpenter-Ridgeway area is the $1.41 price per square foot 3x2 Income restricted Model at Carbon at Union Corners in the in the Near East Side neighborhood starting from $1,811. The second greatest value Carpenter-Ridgeway apartment is the 3 Bedroom 2 Bathroom Model at Eagle Harbor starting at $1,426 with a $1.26 price per square foot in the Near East Side neighborhood. Here is today’s list of the best values for Carpenter-Ridgeway apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Carbon at Union Corners3x2 Income restricted3BR,2BA$1.41
Eagle Harbor3 Bedroom 2 Bathroom3BR,2BA$1.26
View Pointe2 BR/ 2 BA2BR,2BA$1.33
Ridge Creek Apartments2x10282BR,1BA$1.41
Freedom Park2 bed/1 bath2BR,1BA$1.40
PMM + MS2 Bedroom2BR,1BA$1.45
The Oscar Senior Apartments2 Bedroom Market2BR,2BA$1.56
Ridgewood Trails2BR/1.0BA2BR,1BA$1.44
The Meadows2b/1b-r2BR,1BA$1.52
Madison Mayfair Apartments2 Bedroom2BR,1BA$1.60

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Pet Friendly Lifestyle
Carpenter-Ridgeway, Madison, WI

Ranked #20

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

Pet Friendliness Lifestyle Score

4.0
Pet Friendly

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Best Local Schools in
Carpenter-Ridgeway, Madison, WI

School data provided by Great Schools

Lifestyle Ratings

ApartmentHomeLiving.com compares millions of points of data to bring you our detailed rental search system called 'Lifestyle ratings', composed of rentals in areas across the United States including Carpenter-Ridgeway, Madison, and the greater Madison area. Our Lifestyle Ratings help you zero-in on the perfect place to call home. This takes in many factors including our Star Ratings to compare for the best outdoor access, luxury amenities, pet-friendly features, family-friendliness, proximity to transit, and other valuable search options. Find Lifestyle Search in the filter options (above). Happy Searching!

Getting Around the Carpenter-Ridgeway Neighborhood in Madison, WI

Walk Score®

60 / 100

Somewhat Walkable

Some errands can be accomplished on foot

Bike Score®

81 / 100

Very Bikeable

Biking is convenient for most trips

Transit Score®

42 / 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 Carpenter-Ridgeway Apartments

What is a cheap apartment in Carpenter-Ridgeway?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Carpenter-Ridgeway is under $1,150.

What is the price of a cheap apartment in Carpenter-Ridgeway?

The cheapest apartment in Carpenter-Ridgeway is Freedom Park which is listed at $950, while the average apartment in Carpenter-Ridgeway costs $2,299.

What types of apartments are the cheapest in Carpenter-Ridgeway?

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 24 regular apartments in Carpenter-Ridgeway 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 Carpenter-Ridgeway?

Cheap apartments in Carpenter-Ridgeway have an average cost of $216 which is $2,083 cheaper than the average rent for all rentals in Carpenter-Ridgeway.

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

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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.