Cheap Apartments for Rent in the Downtown Madison Neighborhood of Madison, WI from $400 (256 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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636 State St
$1,050 - $1,300
Total Monthly Price

Total Monthly Price

Base Rent
$1,050 - $1,300
Total Monthly Price
$1,050 - $1,300
Studio to 1 Bedroom Apartment Available Jul 1

636 State St

636 State StMadison, WI 53703
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Vicino Madison
$1,061 - $2,997
Total Monthly Price

Total Monthly Price

Base Rent
$1,061 - $2,997
Total Monthly Price
$1,061 - $2,997
Studio to 2 Bedroom Apartments Available May 1

Vicino Madison

1235 Regent StMadison, WI 53715
Pet Friendly
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  • Utilities Included
  • Low Income

Roommate Matching: Finding the Right Fit and Avoiding Pitfalls

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137 E Gorham St
$1,150 - $1,800
Total Monthly Price

Total Monthly Price

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$1,150 - $1,800
Total Monthly Price
$1,150 - $1,800
Studio to 2 Bedroom Apartment Available Aug 15, 2027

137 E Gorham St

137 E Gorham StMadison, WI 53703
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The Art of the Rental Viewing: What to look for during a property tour

Touring a rental? This guide helps you know exactly what to look for, from safety features to hidden flaws, so you can confidently sign your lease or keep searching.

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121 N Hancock St
$1,195 - $1,425
Total Monthly Price

Total Monthly Price

Base Rent
$1,195 - $1,425
Total Monthly Price
$1,195 - $1,425
Studio to 1 Bedroom Apartment Available Jun 1

121 N Hancock St

121 N Hancock StMadison, WI 53703
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Madison's Best Affordable Neighborhoods

Learn about Madison and the best places to live with original content written by our Local Expert Mike Heuer

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Smart Renter's Guide: Calculating Affordable Rent & Housing Costs

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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 4 Beds unit found at Humbucker Apartments priced from $799. 1301 Spring St has the second lowest priced unit, which is a Studio apartment currently listed from $845. Here are the most affordable Downtown Madison apartments for rent in Madison, WI:

Apartment ListingModel NameBed/BathPriced From
Humbucker Apartments4x2-12254BR,2BA$799
1301 Spring StStudio Sublet 5/1-8/13Studio,1BA$845
106 S Hancock StStudioStudio,1BA$890
632 Howard Place632 Howard Place - 304Studio,1BA$895
421 W Gilman St421 Gilman 1 Bedroom1BR,1BA$990
Varsity Campus Apartments4-Bedroom, 2-Bath4BR,2BA$1,065
City RowA4 (50LMI Income Restricted)Studio,1BA$1,070
Courtyard Apartments0BR/1.0BAStudio,1BA$1,070
Allen House Apartments0x1-390Studio,1BA$1,071
University BayStudioStudio,1BA$1,079

Best Value Apartments for Rent in Downtown Madison, WI

As of March 13, 2026 the best value apartment in the Downtown Madison area is the $1.38 price per square foot 2BR/1.5BA Model at Wingra West in the in the Downtown Madison neighborhood starting from $2,400. The second greatest value Downtown Madison apartment is the 813 Williamson St Model at 813 Williamson St, Unit #1 starting at $2,100 with a $1.40 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.
Wingra West2BR/1.5BA2BR,1.5BA$1.38
813 Williamson St, Unit #1813 Williamson St3BR,1BA$1.40
453 W Mifflin St, Unit 1453 W Mifflin St3BR,1BA$1.38
857 E Gorham St, Unit 857857 E Gorham St3BR,1BA$1.46
Pres House ApartmentsBedroom (Shared)4BR,2BA$1.37
114 S Blair St114 S Blair St2BR,1BA$1.36
229 Lakelawn *Student Housing*4 Bedroom 26-27 School Year / Room4BR,3BA$1.18
Collegiate Campus Apartments3 Bedroom 2 Bath Lake Views (7th/8th Floor)3BR,2BA$0.74
451 W Mifflin St, Unit 3451 W Mifflin St2BR,1BA$1.27
17 N Bassett St17 N Bassett St1BR,1BA$1.46

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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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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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
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 $1,079.

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

The cheapest apartment in Downtown Madison is 421 W Gilman St which is listed at $990, while the average apartment in Downtown Madison costs $4,930.

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 344 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 $894 which is $4,036 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.

Articles, How-To's, and Tips

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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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Maximizing Your Refund: Essential Tax Tips for Renters

Written by: Christine Leonard, Esq.

Other than tax professionals, I can’t think of anyone who looks forward to tax season. For everybody else, April is a stressful month to collect information and meet deadlines.

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18 Must-Ask Rental Tour Questions That Reveal the Truth about a Property

Written by: Lauren Harrington

Renting your next home can feel thrilling and overwhelming at the same time.

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A Renters Guide for Tips on Writing Your Notice for Not Renewing Your Apartment

Written by: Bob Mallory

Packing up everything you own to move is so stressful for many that ending your apartment lease can feel like a small or unimportant task. Ending your lease involves more than simply turning over your keys on the last day.