Cheap Apartments for Rent in the Downtown Madison Neighborhood of Madison, WI from $400 (282 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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The Post
$759 - $1,950
Total Monthly Price

Total Monthly Price

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$759 - $1,950
Total Monthly Price
$759 - $1,950
Studio to 1 Bedroom Apartments Available Now

The Post

131 E Lakeside StMadison, WI 53715
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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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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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636 State St
$1,000 - $1,300
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$1,000 - $1,300
Total Monthly Price
$1,000 - $1,300
Studio to 1 Bedroom Apartment Available Now

636 State St

636 State StMadison, WI 53703
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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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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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137 E Gorham St
$1,100 - $1,800
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Total Monthly Price

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$1,100 - $1,800
Total Monthly Price
$1,100 - $1,800
Studio to 2 Bedroom Apartment Available Now

137 E Gorham St

137 E Gorham StMadison, WI 53703
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Constellation
Rent Specials
$1,119 - $3,199
Total Monthly Price

Total Monthly Price

Base Rent
$1,119 - $3,199
Total Monthly Price
$1,119 - $3,199
Studio to 3 Bedroom Apartments Available Now

Constellation

10 N Livingston StMadison, WI 53703
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Vicino Apartments
$1,126 - $2,375
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$1,126 - $2,375
Total Monthly Price
$1,126 - $2,375
Studio to 2 Bedroom Apartments Available Now

Vicino Apartments

1235 Regent StMadison, WI 53715
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409 W Doty St, Unit 1
$1,145
Total Monthly Price

Total Monthly Price

Base Rent
$1,145
Total Monthly Price
$1,145
Studio Apartment Available Aug 15

409 W Doty St, Unit 1

409 W Doty StMadison, WI 53703
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How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide

Finding the right apartment starts with three things: location, cost, and amenities. Get the insider perspective from a real estate professional on how to nail all three.

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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 Studio unit found at 45 N Orchard St priced from $750. The Post has the second lowest priced unit, which is a 1 Bed apartment currently listed from $759. Here are the most affordable Downtown Madison apartments for rent in Madison, WI:

Apartment ListingModel NameBed/BathPriced From
45 N Orchard St0x1-200Studio,1BA$750
The PostOne Bedroom1BR,1BA$759
8Twenty Park1 Bed- 50%1BR,1BA$867
632 Howard Place632 Howard Place - 303Studio,1BA$895
Washington PlazaSmall 1 Bedroom1BR,1BA$1,000
Greenspire Wilson Apartments0BR/1.0BAStudio,1BA$1,025
Courtyard Apartments0BR/1.0BAStudio,1BA$1,055
Varsity Campus Apartments4-Bedroom, 2-Bath4BR,2BA$1,065

Best Value Apartments for Rent in Downtown Madison, WI

As of June 12, 2026 the best value apartment in the Downtown Madison area is the $0.56 price per square foot 1049 Spaight St Model at 1049 Spaight St, Unit Apartment 3 in the in the The Isthmus neighborhood starting from $1,000. The second greatest value Downtown Madison 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 Downtown Madison apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
1049 Spaight St, Unit Apartment 31049 Spaight St1BR,1BA$0.56
Pres House ApartmentsBedroom (Shared)4BR,2BA$1.37
447 W Mifflin St, Unit 1447 W Mifflin St3BR,1BA$1.64
Chapter at Madison4BR/3BA - D14BR,3BA$0.81
City PlaceTwo Bedroom Two Bathroom2BR,2BA$1.56
18 N Baldwin St, Unit B18 N Baldwin St1BR,2BA$1.70
Park Cedar ApartmentsTwo Bedroom, One Bath2BR,1BA$1.47
Varsity Campus Apartments4-Bedroom, 2-Bath4BR,2BA$1.18
8Twenty Park1 Bed- 50%1BR,1BA$1.09
Washington PlazaSmall 1 Bedroom1BR,1BA$1.67

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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Pet Friendly Lifestyle
Downtown Madison, Madison, WI

Ranked #6

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 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 $1,065.

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

The cheapest apartment in Downtown Madison is The Post which is listed at $759, while the average apartment in Downtown Madison costs $5,850.

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 125 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 $763 which is $5,087 cheaper than the average rent for all rentals in Downtown 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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How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide

Written by: Robin Stewart

Evaluating rental properties for clients draws many parallels to house-hunting. Whether an apartment, loft, townhouse, or other rental, finding the right place means finding “home” for your client.

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Pet-Friendly Renting: Everything You Need to Know Before You Move

Written by: Christine Leonard, Esq.

For so many of us, pets are the best companions and a big part of our lives. For this reason, a pet-friendly house or apartment is often a very important - and nonnegotiable - part of a move.

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Creative Ways Developers Reimagine Retail Spaces as Residential Units

Written by: Robin Stewart

Adaptive reuse is when a commercial property is converted and repurposed. The real estate industry has embraced a growing number of these projects.

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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.