936 Drake St
MadisonWI53715
Cheap Homes for Rent in Downtown Madison Neighborhood of Madison, WI from $600 (12 Rentals)
Search the lowest-cost Homes available for rent right now in the Downtown Madison area of Madison.
1205 Chandler St
MadisonWI53715
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$950Studio Apartments Available Aug 14
114 W Gilman St, Unit 11
114 W Gilman StMadison, WI 53703
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$950Studio Apartments Available Aug 15
454 W Dayton St
454 W Dayton StMadison, WI 53703
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$9951 Bedroom Apartments Available Now
437 W Main St, Unit 204
437 W Main StMadison, WI 53703
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$9951 Bedroom Apartments Available Aug 15
111 S Bassett St, Unit 202
111 S Bassett StMadison, WI 53703
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.
1975 E Washington Ave
MadisonWI53704
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$1,2551 Bedroom Apartments Available Aug 15
402 W Dayton St, Unit 102
402 W Dayton StMadison, WI 53703
930 Emerald St
MadisonWI53715
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$1,3951 Bedroom Apartments Available Aug 15
402 Paunack Pl, Unit 402 Paunack place
402 Paunack PlMadison, WI 53726
213 S Broom St, Unit 3
213 S Broom St
MadisonWI53703
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$1,5851 Bedroom Apartments Available Aug 15
402 W Dayton St, Unit 314
402 W Dayton StMadison, WI 53703
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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Downtown Madison, Madison, WI Local Guide
How much does it cost to rent a home in Downtown Madison?
| Bedroom | Average Price | Cheapest Price | Highest Price |
|---|---|---|---|
| Downtown Madison 2 Bedroom Homes for Rent | $2,526 | $1,780 | $3,295 |
| Downtown Madison 3 Bedroom Homes for Rent | $2,690 | $2,200 | $3,300 |
| Downtown Madison 4 Bedroom Homes for Rent | $2,912 | $2,100 | $4,200 |
| Downtown Madison 5 Bedroom Homes for Rent | $3,100 | $3,100 | $3,100 |
Note: Properties with the Total Monthly Price badge include all required fees. Hover over the badge for details.
Browse Homes for Rent in this Neighborhood
There are currently 12 rentals with your search options within a 2 mile radius of the Downtown Madison Neighborhood of Madison, WI.
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Downtown Madison, Madison, WI Local Guide
- Nearby Madison neighborhoods
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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 $782. 632 Howard Place has the second lowest priced unit, which is a Studio apartment currently listed from $895. Here are the most affordable Downtown Madison apartments for rent in Madison, WI:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| 45 N Orchard St | 0x1-200 | Studio,1BA | $782 |
| 632 Howard Place | 632 Howard Place - 303 | Studio,1BA | $895 |
| Greenspire Wilson Apartments | 0BR/1.0BA | Studio,1BA | $1,025 |
| Courtyard Apartments | 0BR/1.0BA | Studio,1BA | $1,055 |
| Vicino Apartments | Style F1 | Studio,1BA | $1,061 |
Best Value Apartments for Rent in Downtown Madison, WI
As of June 02, 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 Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| 1049 Spaight St, Unit Apartment 3 | 1049 Spaight St | 1BR,1BA | $0.56 |
| Pres House Apartments | Bedroom (Shared) | 4BR,2BA | $1.37 |
| 447 W Mifflin St, Unit 1 | 447 W Mifflin St | 3BR,1BA | $1.64 |
| Chapter at Madison | 4BR/3BA - D1 | 4BR,3BA | $0.81 |
| Waterfront Apartments | N | 4BR,2BA | $1.27 |
| Park Cedar Apartments | Two Bedroom, One Bath | 2BR,1BA | $1.47 |
| Valor on Washington | Two Bedroom | 2BR,1BA | $1.32 |
| Varsity Campus Apartments | 4-Bedroom, 2-Bath | 4BR,2BA | $1.18 |
| The Madison Mark | Wilson (60LMI Income Restricted) | 1BR,1BA | $1.61 |
| Towers on State | 2BR/1BA - B1 | 2BR,1BA | $1.49 |
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.
Read ArticleReal 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.
Read ArticleQuick Rent Budget Calculator
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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If you’re an expert on all things Downtown Madison, tell us what you love (and don't) by rating it and writing a review.
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Pet Friendly LifestyleDowntown Madison, Madison, WI
Ranked #6
Among cities in Wisconsin for Apartment listings with Pet Friendly Amenities.
Pet Friendliness Lifestyle Score
4.0Pet Friendly
Frequently Asked Questions about Downtown Madison
What type of rentals are currently available in Downtown Madison?
There are currently 693 Apartments for Rent in Downtown Madison, WI with pricing that ranges from $715 to $14,130. There are also 52 Single Family Homes for rent, Condos, and Townhome rentals currently available in Downtown Madison ranging from $615 to $4,200.
What is the current price range for Rental Homes in Downtown Madison?
Today's rental pricing for Homes for Rent, Condos and Townhomes in Downtown Madison ranges from $615 to $4,200 with an average monthly rent of $2,515.
How much are larger Three and Four Bedroom Rentals in Downtown Madison?
For those who are looking for larger living arrangements, Three Bedroom Apartments in Downtown Madison range from $1,129 to $14,130, while Three Bedroom Homes, Condos, and Townhomes for rent range from $2,200 to $3,300. Four Bedroom Single-Family rentals are also available starting from $2,100 and Four Bedroom Apartments start at $969.
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
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.
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.
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
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.
A Seasoned Property Manager's Step-by-Step Guide to Getting Your Deposit Back
Written by: Lauren Harrington
I’m going to talk with you as a seasoned property manager and friend. So, let’s start with your security deposit. I want you to think about this guide as insider information. You deserve your deposit back.
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.
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.