Cheap Apartments for Rent in the Downtown Madison Neighborhood of Madison, WI from $400 (266 Rentals)

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

property at 522 W Wilson St

$850

Total Monthly Price

Total Monthly Price

Base Rent
$850
Total Monthly Price
$850

Studio, 1 Bath Home for Rent

Available Aug 15

522 W Wilson St

MadisonWI53703
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1219 Regent St
$875 - $3,600
Total Monthly Price

Total Monthly Price

Base Rent
$875 - $3,600
Total Monthly Price
$875 - $3,600
4 Bedroom Apartment Available Aug 15

1219 Regent St

1219 Regent StMadison, WI 53715
Furnished
  • Smoke Free

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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Vicino Madison
$1,061 - $2,375
Total Monthly Price

Total Monthly Price

Base Rent
$1,061 - $2,375
Total Monthly Price
$1,061 - $2,375
Studio to 2 Bedroom Apartments Available May 1

Vicino Madison

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

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
$1,150 - $1,800
Total Monthly Price

Total Monthly Price

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

137 E Gorham St

137 E Gorham StMadison, WI 53703
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121 N Hancock St
$1,150 - $1,425
Total Monthly Price

Total Monthly Price

Base Rent
$1,150 - $1,425
Total Monthly Price
$1,150 - $1,425
Studio to 1 Bedroom Apartment Available Jun 1

121 N Hancock St

121 N Hancock StMadison, WI 53703
Affordability
  • Smoke Free

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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129 E Gorham St
$1,195 - $2,600
Total Monthly Price

Total Monthly Price

Base Rent
$1,195 - $2,600
Total Monthly Price
$1,195 - $2,600
1 to 3 Bedroom Apartment Available Aug 15, 2027

129 E Gorham St

129 E Gorham StMadison, WI 53703
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The Constellation
$1,199 - $3,299
Total Monthly Price

Total Monthly Price

Base Rent
$1,199 - $3,299
Total Monthly Price
$1,199 - $3,299
Studio to 3 Bedroom Apartments Available Now

The Constellation

10 N Livingston StMadison, WI 53703
Transit Friendly
  • Verified
  • Utilities Included
  • 3D Tour

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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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
632 Howard Place632 Howard Place - 303Studio,1BA$895
22 N Franklin StStudio AStudio,1BA$915
228 Langdon StStudioStudio,1BA$990
The BayshoreStudioStudio,1BA$1,025
Greenspire Wilson Apartments0BR/1.0BAStudio,1BA$1,040
Varsity Campus Apartments4-Bedroom, 2-Bath4BR,2BA$1,065

Best Value Apartments for Rent in Downtown Madison, WI

As of April 27, 2026 the best value apartment in the Downtown Madison area is the $1.09 price per square foot 855 E Gorham St Model at 855 E Gorham St, Unit 855 in the in the The Isthmus neighborhood starting from $2,625. The second greatest value Downtown Madison apartment is the 3 BED 2 BA Model at The Heights starting at $2,265 with a $1.63 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.
855 E Gorham St, Unit 855855 E Gorham St4BR,2BA$1.09
The Heights3 BED 2 BA3BR,2BA$1.63
Pres House ApartmentsBedroom (Shared)4BR,2BA$1.37
127 N Franklin St, Unit 127127 N Franklin St3BR,1BA$1.67
City PlaceTwo Bedroom Two Bathroom2BR,2BA$1.54
Park Cedar ApartmentsTwo Bedroom, One Bath2BR,1BA$1.47
Arbor CrossingA1 Floor Plan (60LMI Income Restricted)2BR,2BA$1.56
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
930 S Brooks St, Unit 3930 S Brooks St2BR,1BA$0.91

10 Hidden Costs of Renting You Should Budget for Before Signing a Lease

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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

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Cash or credit? Understanding the Importance of Credit Score in Real Estate and Renting

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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 Bayshore which is listed at $1,095, 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 311 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 $877 which is $4,973 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

decorative image for Experts Guide To 10 Budget-Friendly Neighborhoods to Rent in Madison article

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.

decorative image for Expert Solutions for Creating the Perfect Work-From-Home Apartment Layouts article

Expert Solutions for Creating the Perfect Work-From-Home Apartment Layouts

Written by: Lauren Harrington

This article is based on first-hand experience managing apartment communities and helping renters adapt to their spaces after moving in.

decorative image for What Does “Rent Burdened” Mean? How Much Rent Is Too Much article

What Does “Rent Burdened” Mean? How Much Rent Is Too Much

Written by: Lauren Harrington

This article draws from first-hand renter experiences and recurring financial challenges reported after moving in.

decorative image for Maximizing Your Refund: Essential Tax Tips for Renters article

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.