Cheap Apartments for Rent in the First Settlement Neighborhood of Madison, WI from $400 (146 Rentals)

How Many Bedrooms?Done
Select your price rangeDone
Lifestyle Matching SearchDone
Learn more about Lifestyle Search
By AmenitiesDone
By Community TypeDone
Features and AvailabilityDone
Done

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

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.

Read Article

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.

Read Article

Madison's Best Affordable Neighborhoods

Learn about Madison and the best places to live with original content written by our Local Expert Mike Heuer

Read Article

Smart Renter's Guide: Calculating Affordable Rent & Housing Costs

Wondering how to determine your rental budget? This comprehensive guide covers everything from the 30% rule to hidden fees and effective budgeting strategies.

Read Article

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.

Read Article
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. 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 First Settlement 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
The ConstellationEfficiency - Income restrictedStudio,1BA$1,099
Parkview Apartmentsstudios (745)Studio,1BA$1,150
Atmosphere Madison5BR/5BA - The Five C ADA5BR,5BA$1,230
The BreeseT1 Floor Plan (50LMI Income Restricted)2BR,1BA$1,365
IrwinStudioStudio,1BA$1,450

Best Value Apartments for Rent in First Settlement, WI

As of July 25, 2025 the best value apartment in the First Settlement area is the $1.99 price per square foot Two Bedroom Two Bathroom Model at The Pressman in the in the The Isthmus neighborhood starting from $3,120. The second greatest value First Settlement 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 First Settlement apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
The PressmanTwo Bedroom Two Bathroom2BR,2BA$1.99
Pres House ApartmentsBedroom A,B,C,D (Individual)4BR,2BA$0.64
Tobacco Lofts at the YardsTwo Bedroom Two Bathroom2BR,2BA$1.96
306 WestTwo-Bedroom2BR,1BA$2.03
141 N Franklin St, Unit 1141 N Franklin St2BR,1BA$2.07
402 W Wilson Street2/22BR,2BA$1.58
Hub on Campus Madison2X2L2BR,2BA$1.85
Bel Mora1 Bedroom 1 Bath1BR,1BA$2.13
640 WestC1BR,1BA$2.17
16 N Broom St, Unit 316 N Broom St2BR,1BA$2.02

Quick 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.

decorative image of people with a giant lease agreement

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

decorative image of woman handing cat to small boy

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 the Cheapest Studio apartment in First Settlement?

Currently the most affordable Cheap Studio Apartment in First Settlement is at Hellenbrand Apartments listed at $705.

How much is rent for a Cheap One Bedroom First Settlement Apartment?

The lowest price for a Cheap One Bedroom First Settlement Apartment is $945 at Hellenbrand Apartments.

What is the lowest price for a Cheap Two Bedroom First Settlement Apartment for rent?

Today's best deal for a Cheap Two Bedroom Apartment in First Settlement is starting from $1,365 at The Breese.

What is the most affordable First Settlement Three Bedroom Apartment?

The best deal on a cheap First Settlement Three Bedroom Apartment rental is at Hub on Campus Madison and starts from $742.

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.

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 Roommate Matching: Finding the Right Fit and Avoiding Pitfalls article

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.

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

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.

decorative image for Know Your Budget: Calculating What You Can Realistically Afford When Renting article

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.