Cheap Apartments for Rent in the First Settlement Neighborhood of Madison, WI from $400 (164 Rentals)

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

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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Roommate Matching: Finding the Right Fit and Avoiding Pitfalls

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

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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 106 S Hancock St priced from $890. 632 Howard Place has the second lowest priced unit, which is a Studio apartment currently listed from $895. Here are the most affordable First Settlement apartments for rent in Madison, WI:

Apartment ListingModel NameBed/BathPriced From
106 S Hancock StStudioStudio,1BA$890
632 Howard Place632 Howard Place - 304Studio,1BA$895
Metropolitan ApartmentsStudio, 1 bathStudio,1BA$900
421 W Gilman St421 Gilman 1 Bedroom1BR,1BA$990
Capital Park ApartmentsEfficiencyStudio,1BA$999
The ShieldA11BR,1BA$1,011
Courtyard Apartments0BR/1.0BAStudio,1BA$1,060
Varsity Campus Apartments4-Bedroom, 2-Bath4BR,2BA$1,065
City RowA4 (50LMI Income Restricted)Studio,1BA$1,070
Langdon Hall ApartmentsStudiosStudio,1BA$1,075

Best Value Apartments for Rent in First Settlement, WI

As of January 28, 2026 the best value apartment in the First Settlement area is the $1.25 price per square foot 17 N Bassett St Model at 17 N Bassett St, Unit 2 in the in the The Isthmus neighborhood starting from $2,360. The second greatest value First Settlement apartment is the 110 S Blair St Model at 110 S Blair St, Unit 2 starting at $1,600 with a $1.19 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.
17 N Bassett St, Unit 217 N Bassett St4BR,2BA$1.25
110 S Blair St, Unit 2110 S Blair St3BR,1BA$1.19
857 E Gorham St, Unit 857857 E Gorham St3BR,1BA$1.35
Pres House ApartmentsBedroom (Shared)4BR,2BA$1.37
22 N Hancock StTwo-Bedroom2BR,1BA$1.33
229 Lakelawn *Student Housing*4 Bedroom 26-27 School Year / Room4BR,3BA$1.18
450 W Washington Ave, Unit 3450 W Washington Ave1BR,1BA$1.20
Collegiate Campus Apartments3 Bedroom 2 Bath Lake Views (7th/8th Floor)3BR,2BA$0.74
451 W Mifflin St, Unit 3451 W Mifflin St2BR,1BA$1.27
Varsity Campus Apartments4-Bedroom, 2-Bath4BR,2BA$1.18

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

Moving is tough, especially long-distance. Learn how to minimize stress & expenses with proven strategies from a real estate pro, covering everything from logistics to finances.

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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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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.

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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!

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 106 S Hancock St listed at $890.

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

The lowest price for a Cheap One Bedroom First Settlement Apartment is $900 at Gargano Properties.

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 $1,310 at Park Central.

What is the most affordable First Settlement Three Bedroom Apartment?

The best deal on a cheap First Settlement Three Bedroom Apartment rental is at Waterfront and starts from $1,310.

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

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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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18 Must-Ask Rental Tour Questions That Reveal the Truth about a Property

Written by: Lauren Harrington

Renting your next home can feel thrilling and overwhelming at the same time.

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A Renters Guide for Tips on Writing Your Notice for Not Renewing Your Apartment

Written by: Bob Mallory

Packing up everything you own to move is so stressful for many that ending your apartment lease can feel like a small or unimportant task. Ending your lease involves more than simply turning over your keys on the last day.

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Renting with Roommates: Realistic Expectations for Shared Lease

Written by: Christine Leonard, Esq.

Given the high costs for housing, I have found that many people are looking for a roommate to share expenses. These arrangements can increase opportunities for more desirable and larger spaces.