Cheap Apartments for Rent in the First Settlement Neighborhood of Madison, WI from $400 (110 Rentals)

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

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Bellevue Apartments
1 Bedroom Apartments

Bellevue Apartments

29 E Wilson StMadison, WI 53703
  • Utilities Included

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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Laketowne Apartments
Studio to 1 Bedroom Apartments

Laketowne Apartments

622 Howard PlMadison, WI 53703
  • Utilities Included
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529 N Pinckney St
Studio to 1 Bedroom Apartments

529 N Pinckney St

529 N Pinckney StMadison, WI 53703
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The Ambassador
Studio to 1 Bedroom Apartments

The Ambassador

522 N Pinckney StMadison, WI 53703
  • Utilities Included
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Grand Victorian
Studio to 2 Bedroom Apartments

Grand Victorian

134 W Gorham StMadison, WI 53703
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15 N Hancock
Studio to 5 Bedroom Apartments

15 N Hancock

15 N Hancock StMadison, WI 53703
  • Utilities Included
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Doty Street Apartments
Studio to 1 Bedroom Apartments

Doty Street Apartments

525 W Doty StMadison, WI 53703
  • Utilities Included
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143-145 W Gilman St
1 to 4 Bedroom Apartments

143-145 W Gilman St

143-145 W Gilman StMadison, WI 53703
  • Utilities Included
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Blied Building
Studio to 4 Bedroom Apartments

Blied Building

141 W Gilman StMadison, WI 53703

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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526 W Wilson St
Studio to 2 Bedroom Apartments

526 W Wilson St

526 W Wilson StMadison, WI 53703
  • Utilities Included
Showing Results 1-50, Page 1 of 3

First Settlement, Madison, WI Local Guide

Cheapest Available First Settlement Apartments for Rent

 

The cheapest available apartment rental in the First Settlement area of Madison, WI is a Studio unit found at Hellenbrand Apartments priced from $705. Pres House Apartments has the second lowest priced unit, which is a 4 Beds apartment currently listed from $750. Here are the most affordable First Settlement apartments for rent in Madison, WI:

Apartment ListingModel NameBed/BathPriced From
Hellenbrand ApartmentsStudio--111 S BassettStudio,1BA$705
Pres House ApartmentsBedroom A,B,C,D (Individual)4BR,2BA$750
Gargano Propertiesone1BR,1BA$750
632 Howard Place632 Howard Place - 304Studio,1BA$895
The Badger Den Apartments on GilmanWingraStudio,1BA$949
Metropolitan Apartments200Studio,1BA$950
106 S Hancock StStudioStudio,1BA$990
421 W Gilman St736 E. Johnson St StudioStudio,1BA$995
Capital Park ApartmentsEfficiencyStudio,1BA$999

Best Value Apartments for Rent in First Settlement, WI

As of September 12, 2025 the best value apartment in the First Settlement area is the $0.77 price per square foot 6 Bedroom Model at 229 Lakelawn *Student Housing* in the in the The Isthmus neighborhood starting from $1,200. The second greatest value First Settlement apartment is the 2 Bedroom 1 Bathroom Model at Nichols Station Apartments starting at $2,325 with a $1.79 price per square foot in the The Isthmus neighborhood. Here is today’s list of the best values for First Settlement apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
229 Lakelawn *Student Housing*6 Bedroom6BR,3BA$0.77
Nichols Station Apartments2 Bedroom 1 Bathroom2BR,1BA$1.79
207 S Broom St, Unit #2207 S Broom St3BR,1BA$1.78
Pres House ApartmentsBedroom A,B,C,D (Individual)4BR,2BA$0.64
Hub on Campus Madison3X23BR,2BA$1.57
Gargano Propertiesone1BR,1BA$0.74
345 W Doty St, Unit 2345 W Doty St2BR,1BA$0.78
1116 E Dayton St, Unit #21116 E Dayton St2BR,1BA$1.74
City RowC4 (60LMI Income Restricted)2BR,2BA$1.78
Sheelin Apartments1 Bed, 1 bath1BR,1BA$1.80

Quick Rent Budget Calculator

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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
First Settlement, Madison, WI

Ranked #11

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.com compares millions of points of data to bring you our detailed rental search system called 'Lifestyle ratings', composed of neighborhoods, cities, and rental properties across Wisconsin including First Settlement, Madison, and the greater Madison area. Our Lifestyle Ratings help you zero-in on the perfect place to call home. This takes in many factors including filtering automatically for convenient access to the outdoors, luxury housing options, places that make kids happy, raising pets, transit options, and more. Find Lifestyle Search in the filter options (above). Happy Searching!

Getting Around the First Settlement Neighborhood in Madison, WI

Walk Score®

95 / 100

Walker’s Paradise

Daily errands do not require a car

Bike Score®

94 / 100

Biker's Paradise

Daily errands can be accomplished on a bike

Transit Score®

52 / 100

Good Transit

Many nearby public transportation options

What Are Walk Score®, Transit Score®, and Bike Score® Ratings?

  • Walk Score® measures the walkability of any address.
  • Transit Score® measures access to public transit.
  • Bike Score® measures the bikeability of any address.

Frequently Asked Questions about Cheap First Settlement Apartments

What is a cheap apartment in First Settlement?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in First Settlement is under $999.

What is the price of a cheap apartment in First Settlement?

The cheapest apartment in First Settlement is Gargano Properties which is listed at $750, while the average apartment in First Settlement costs $7,995.

What types of apartments are the cheapest in First Settlement?

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 83 regular apartments in First Settlement 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 First Settlement?

Cheap apartments in First Settlement have an average cost of $2,439 which is $5,556 cheaper than the average rent for all rentals in First Settlement.

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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The Rental Move-In Inspection Checklist: A Guide for Renters

Written by: Trey Huguley

The move-in inspection checklist is a crucial tool for both tenants and landlords. This checklist, provided by the team at ApartmentHomeLiving.com, helps document the condition of an apartment at the time of move-in.

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Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between

Written by: Christine Leonard, Esq.

For many people, obstacles can arise during the rental application process for a variety of issues.

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The Ultimate Long-Distance Moving Checklist: Tips from a Real Estate Pro

Written by: Christine Leonard, Esq.

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