Cheap Apartments for Rent in the Downtown Madison Neighborhood of Madison, WI from $400 (285 Rentals)

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

Finding Your Place in Madison: Neighborhoods Close to the City’s Biggest Jobs

Finding the right Madison apartment near work is easy. Browse our guide to the best neighborhoods for professionals, from State-Langdon to Bay Creek.

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2078 Atwood Ave
$899 - $950

Total Monthly Price

Base Rent$899 - $950
Total Monthly Price$899 - $950
Studio Apartment Available Now

2078 Atwood Ave

2078 Atwood AveMadison, WI 53704
Affordability

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636 State St, Unit 205
$1,030

Total Monthly Price

Base Rent$1,030
Total Monthly Price$1,030
1 Bedroom Apartment Available Now

636 State St, Unit 205

636 State 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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137 E Gorham St
$1,100 - $1,800

Total Monthly Price

Base Rent$1,100 - $1,800
Total Monthly Price$1,100 - $1,800
Studio to 2 Bedroom Apartment Available Sep 15

137 E Gorham St

137 E Gorham StMadison, WI 53703
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129 E Gorham St
$1,100 - $2,500

Total Monthly Price

Base Rent$1,100 - $2,500
Total Monthly Price$1,100 - $2,500
Studio to 3 Bedroom Apartment Available Aug 15, 2027

129 E Gorham St

129 E Gorham StMadison, WI 53703
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Renters Insurance 101: What It Is, What It Covers, and Why You Need It

From theft to fire to water damage, the unexpected can happen to any renter. Discover why renters insurance is one of the smartest and most affordable investments you can make as a tenant.

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property at 109 E Gorham St
$1,150 - $1,995
Studio To 3 Bedroom Rentals
Available Now
Affordability

109 E Gorham St

MadisonWI53703
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109 E Gorham St
$1,195 - $1,995

Total Monthly Price

Base Rent$1,195 - $1,995
Total Monthly Price$1,195 - $1,995
Studio to 3 Bedroom Apartment Available Aug 15, 2027

109 E Gorham St

109 E Gorham StMadison, WI 53703
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Constellation
Rent Specials
$1,199 - $2,899

Total Monthly Price

Base Rent$1,199 - $2,899
Total Monthly Price$1,199 - $2,899
Studio to 3 Bedroom Apartments Available Now

Constellation

10 N Livingston 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 1 Bed unit found at 148-150 E Gorham St priced from $600. 111 E Gorham St has the second lowest priced unit, which is a 1 Bed apartment currently listed from $700. Here are the most affordable Downtown Madison apartments for rent in Madison, WI:

Apartment ListingModel NameBed/BathPriced From
148-150 E Gorham St148-150 E Gorham St - 3F Ro...1BR,1BA$600
111 E Gorham St1 Bed, 1 Bath1BR,1BA$700
Humbucker Apartments4x2-12254BR,2BA$799
509 N Lake StOne-Bed1BR,1BA$850
Theory MadisonD94BR,4BA$865
Courtyard Apartments0BR/1.0BAStudio,1BA$895
Metropolitan ApartmentsStudio, 1 bathStudio,1BA$900
1301 Spring StStudioStudio,1BA$925
126-128 S Franklin St1 BR1BR,1BA$929

Best Value Apartments for Rent in Downtown Madison, WI

As of September 11, 2026 the best value apartment in the Downtown Madison area is the $0.67 price per square foot 1BR/1.0BA Model at 2009-2011 University Ave in the in the Downtown Madison neighborhood starting from $949. The second greatest value Downtown Madison apartment is the Four Bedroom / Three Bath Model at College Station starting at $1,800 with a $1.34 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.
2009-2011 University Ave1BR/1.0BA1BR,1BA$0.67
College StationFour Bedroom / Three Bath4BR,3BA$1.34
Pres House ApartmentsBedroom (Shared)4BR,2BA$1.37
22 N Hancock StTwo-Bedroom2BR,1BA$1.33
The Badger Den Apartments on Kendall1810/1812 Kendall Ave2BR,1BA$1.25
Collegiate Campus Apartments4 Bedroom 2 Bath City Views (7th/8th Floor)4BR,2BA$1.04
916 E Gorham St2BR/1.0BA2BR,1BA$1.36
Park Cedar ApartmentsTwo Bedroom, One Bath2BR,1BA$1.47
1237 E Johnson St, Unit 12371237 E Johnson St1BR,1BA$1.52
636 State St, Unit 205636 State St1BR,1BA$1.47

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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Navigating the Rental Market: Tips for First-Time Renters

Entering the rental market? Learn these simple tips and strategies to avoid common pitfalls and make confident choices. Rent with peace of mind.

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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 #5

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 the Cheapest Studio apartment in Downtown Madison?

Currently the most affordable Cheap Studio Apartment in Downtown Madison is at Courtyard Apartments listed at $895.

How much is rent for a Cheap One Bedroom Downtown Madison Apartment?

The lowest price for a Cheap One Bedroom Downtown Madison Apartment is $575 at 148-150 E Gorham St.

What is the lowest price for a Cheap Two Bedroom Downtown Madison Apartment for rent?

Today's best deal for a Cheap Two Bedroom Apartment in Downtown Madison is starting from $950 at Park Terrace West.

What is the most affordable Downtown Madison Three Bedroom Apartment?

The best deal on a cheap Downtown Madison Three Bedroom Apartment rental is at The Heights and starts from $1,564.

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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Finding Your Place in Madison: Neighborhoods Close to the City's Biggest Jobs

Written by: Mike Heuer

Madison, Wisconsin, is three communities in one. It is a college town that is home to the flagship university in the University of Wisconsin system.

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An Insider's 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.

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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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The Expert's 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.

Articles, How-To's, and Tips

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Rent According to Income: A Look at Income-Restricted Rentals

Written by: Robin Stewart

The idea of affordable housing can be subjective. Every individual is in a different place financially and vocationally. What one may easily afford could be a struggle for someone else.

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Exploring Rental Options: Apartments, Townhomes, and Lofts - Oh My!

Written by: Robin Stewart

Where do you see yourself? When you think of home, sweet home, are you in a 3/2 apartment? Dreaming of a tall townhome? Maybe an industrial loft heavy on cool vibes is on your visioning board.

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Practical Tips for Renters: How to Identify a Great Rental and Avoid Red Flags

Written by: Robin Stewart

Renters want to find a great apartment, the right place for them, one that checks all the boxes of location, rental cost, amenities, safety, and more.

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First Apartment Regrets: Real Renters Share What They'd Do Differently

Written by: Robin Stewart

Hindsight is 20/20. Live and Learn. With age comes wisdom. We’re familiar with all those expressions, and all of them apply to lessons first-time renters learn.