Cheap Apartments for Rent in the Downtown Madison Neighborhood of Madison, WI from $400 (187 Rentals)

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

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Downtown Madison, Madison, WI Local Guide

Cheapest Available Downtown Madison Apartments for Rent

 

The cheapest available apartment rental in the Downtown Madison area of Madison, WI is a 3 Beds unit found at Hub on Campus Madison priced from $730. Pres House Apartments has the second lowest priced unit, which is a 4 Beds apartment currently listed from $750. Here are the most affordable Downtown Madison apartments for rent in Madison, WI:

Apartment ListingModel NameBed/BathPriced From
Hub on Campus Madison3X5D33BR,3BA$730
Pres House ApartmentsBedroom A,B,C,D (Individual)4BR,2BA$750
The ShieldA21BR,1BA$842
Hellenbrand ApartmentsStudio--111 S BassettStudio,1BA$850
Capital Park ApartmentsEfficiencyStudio,1BA$999
Gargano Propertiesone1BR,1BA$1,000
Courtyard Apartments, LLC.0BR/1.0BAStudio,1BA$1,040
8Twenty Park1 Bed- Income Restriction 50%1BR,1BA$1,086
Allen House Apartments0x1-361Studio,1BA$1,099
Briarwood ApartmentsStudioStudio,1BA$1,100

Best Value Apartments for Rent in Downtown Madison, WI

As of June 12, 2025 the best value apartment in the Downtown Madison area is the $1.42 price per square foot 949 Spaight St Model at 949 Spaight St, Unit 949 Spaight St in the in the The Isthmus neighborhood starting from $2,550. The second greatest value Downtown Madison apartment is the 6 Bedroom Model at 229 Lakelawn *Student Housing* starting at $1,200 with a $0.77 price per square foot in the The Isthmus neighborhood. Here is today’s list of the best values for Downtown Madison apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
949 Spaight St, Unit 949 Spaight St949 Spaight St4BR,1BA$1.42
229 Lakelawn *Student Housing*6 Bedroom6BR,3BA$0.77
Waterfront3 Bed, 2 Bath3BR,2BA$1.04
8Twenty Park2 Bedroom, Market Rate2BR,2BA$1.66
Pres House ApartmentsBedroom A,B,C,D (Individual)4BR,2BA$0.64
Park Cedar ApartmentsTwo Bedroom, One Bath2BR,1BA$1.47
402 W Wilson Street2/22BR,2BA$1.58
Yahara Landing ApartmentsOak2BR,2BA$1.68
Williamson Place2BR/1BA2BR,1BA$1.65
Gargano Propertiesone1BR,1BA$1.33

Quick Rent Budget Calculator

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Pet Friendly Lifestyle
Downtown Madison, Madison, WI

Ranked #6

Among neighborhoods in Madison, WI for Apartment listings with Pet Friendly Amenities

Pet Friendliness Lifestyle Score

4.0
Pet Friendly

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Lifestyle Ratings

ApartmentHomeLiving brings you our detailed rental search system called 'Lifestyle ratings', composed of rentals in cities across the United States, including Madison. Lifestyle Ratings show you the best fit for your needs and interests. This takes in many factors including filtering automatically for convenient access to the outdoors, luxury housing options, kid and pet-friendly communities, availability of transit options, and how walkable or bikeable each community and area is. These search options are in the site filters at the top of this page.

Frequently Asked Questions about Cheap Downtown Madison Apartments

What is a cheap apartment in Downtown Madison?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Downtown Madison is under $1,100.

What is the price of a cheap apartment in Downtown Madison?

The cheapest apartment in Downtown Madison is The Shield which is listed at $842, while the average apartment in Downtown Madison costs $2,595.

What types of apartments are the cheapest in Downtown 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 162 regular apartments in Downtown 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 Downtown Madison?

Cheap apartments in Downtown Madison have an average cost of $867 which is $1,728 cheaper than the average rent for all rentals in Downtown 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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The Art of the Rental Viewing: What to look for during a property tour

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

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