Cheap Apartments for Rent in the First Settlement Neighborhood of Madison, WI from $400 (154 Rentals)

How Many Bedrooms?Done
Select your price rangeDone
to
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.

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.

Read Article

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

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.

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
Showing Results 1-50, Page 1 of 4

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
Capital Park ApartmentsEfficiencyStudio,1BA$999
The ShieldA11BR,1BA$1,011
509 N Lake StOne-Bed1BR,1BA$1,030
Courtyard Apartments0BR/1.0BAStudio,1BA$1,060
City RowA1 (50LMI Income Restricted)Studio,1BA$1,070
Parkview Apartmentsstudios (746)Studio,1BA$1,195
Morgan House1 Bedroom, 1 Bathroom1BR,1BA$1,200

Best Value Apartments for Rent in First Settlement, WI

As of December 13, 2025 the best value apartment in the First Settlement area is the $1.40 price per square foot 813 Williamson St Model at 813 Williamson St, Unit #1 in the in the The Isthmus neighborhood starting from $2,100. The second greatest value First Settlement apartment is the 110 S Blair St Model at 110 S Blair St, Unit 2 starting at $1,820 with a $1.35 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.
813 Williamson St, Unit #1813 Williamson St3BR,1BA$1.40
110 S Blair St, Unit 2110 S Blair St3BR,1BA$1.35
514 E Johnson St, Unit 2514 E Johnson St1BR,1BA$1.00
520 E Johnson St, Unit 1520 E Johnson St2BR,1BA$1.28
Pres House ApartmentsBedroom (Shared)4BR,2BA$1.37
22 N Hancock StTwo-Bedroom2BR,1BA$1.53
1242 E Mifflin St, Unit 21242 E Mifflin St2BR,1BA$1.54
Collegiate Campus Student ApartmentsApartments Available Now4BR,2BA$0.68
229 Lakelawn *Student Housing*4 Bedroom 26-27 School Year / Room4BR,3BA$1.18
345 W Doty St, Unit 2345 W Doty St2BR,1BA$0.78

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 Article
Decorative image

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.

Read Article
Decorative image

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 #15

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 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 $1,200.

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

The cheapest apartment in First Settlement is The Shield which is listed at $1,011, while the average apartment in First Settlement costs $9,500.

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 135 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 $1,094 which is $8,406 cheaper than the average rent for all rentals in First Settlement.

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 Renting with Roommates: Realistic Expectations for Shared Lease article

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.

decorative image for Apartment Common Area Rules: What Renters Need to Know article

Apartment Common Area Rules: What Renters Need to Know

Written by: Christine Leonard, Esq.

Back in the day when I rented one of my first apartments, the property didn’t even have laundry in the building. Now, rental properties are often competing against each other to provide the best amenities.

decorative image for How to Negotiate Your Apartment Lease and Save Money article

How to Negotiate Your Apartment Lease and Save Money

Written by: Christine Leonard, Esq.

Everything is a negotiation in real estate!