Cheap Apartments for Rent in the Downtown Madison Neighborhood of Madison, WI from $400 (203 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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Madison's Best Affordable Neighborhoods

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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 Hellenbrand Apartments priced from $705. Hub on Campus Madison has the second lowest priced unit, which is a 3 Beds apartment currently listed from $742. Here are the most affordable Downtown Madison apartments for rent in Madison, WI:

Apartment ListingModel NameBed/BathPriced From
Hellenbrand ApartmentsStudio--111 S BassettStudio,1BA$705
Hub on Campus Madison3X5D33BR,3BA$742
Pres House ApartmentsBedroom A,B,C,D (Individual)4BR,2BA$750
Capital Park ApartmentsEfficiencyStudio,1BA$999
Courtyard Apartments, LLC.0BR/1.0BAStudio,1BA$1,025
8Twenty Park1 Bed- Income Restriction 50%1BR,1BA$1,086
Allen House Apartments1Dx1-4441BR,1BA$1,099
The ConstellationEfficiency - Income restrictedStudio,1BA$1,099
Parkview Apartmentsstudios (745)Studio,1BA$1,150
Atmosphere Madison5BR/5BA - The Five C ADA5BR,5BA$1,230

Best Value Apartments for Rent in Downtown Madison, WI

As of July 27, 2025 the best value apartment in the Downtown Madison area is the $1.66 price per square foot 2 Bedroom, Market Rate Model at 8Twenty Park in the in the Downtown Madison neighborhood starting from $1,995. The second greatest value Downtown Madison apartment is the Bedroom A,B,C,D (Individual) Model at Pres House Apartments starting at $750 with a $0.64 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.
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$1.73
1119 Chandler St, Unit #31119 Chandler St2BR,1BA$1.50
1213 Gilson St, Unit 11213 Gilson St2BR,2BA$1.69
Hub on Campus Madison2X2L2BR,2BA$1.85
930 S Brooks St, Unit 3930 S Brooks St2BR,1BA$1.82
Briarwood ApartmentsOne Bedroom1BR,1BA$1.82

Quick Rent Budget Calculator

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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 $1,230.

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

The cheapest apartment in Downtown Madison is Hellenbrand Apartments which is listed at $945, while the average apartment in Downtown Madison costs $2,810.

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 275 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 $786 which is $2,024 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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Roommate Matching: Finding the Right Fit and Avoiding Pitfalls

Written by: Cheryl Bowman

A fantastic way to save money and enjoy a built-in community is to share an apartment. However, a bad roommate situation can turn your dream rental into a nightmare.

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The Art of the Rental Viewing: What to look for during a property tour

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.

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

Written by: Lauren Harrington

Renting an apartment or house isn’t just about looking through online ads, choosing a few apartments or homes you want to tour, filling out an application, and putting down a deposit. Those things are all necessary and important.