
Cheap Homes for Rent in First Settlement Neighborhood of Madison, WI from $1,000 (7 Rentals)
Search the lowest-cost Homes available for rent right now in the First Settlement area of Madison.


125 E Gorham St

121 E Gorham St
Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between
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129 E Gorham St

137 E Gorham St

315 S Paterson St
Roommate Matching: Finding the Right Fit and Avoiding Pitfalls
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1046 Jenifer St
First Settlement, Madison, WI Local Guide

How much does it cost to rent a home in First Settlement?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| First Settlement 2 Bedroom Homes for Rent | $2,610 | $1,780 | $3,395 |
| First Settlement 3 Bedroom Homes for Rent | $2,322 | $2,100 | $2,745 |
| First Settlement 4 Bedroom Homes for Rent | $3,439 | $2,200 | $4,000 |
| First Settlement 5 Bedroom Homes for Rent | $3,247 | $3,200 | $3,295 |
Browse Homes for Rent in this Neighborhood
There are currently 7 rentals with your search options within a 1 mile radius of the First Settlement Neighborhood of Madison, WI.
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Cheapest Available First Settlement Apartments for Rent
 The cheapest available apartment rental in the First Settlement area of Madison, WI is a 1 Bed unit found at The Shield priced from $842. 106 S Hancock St has the second lowest priced unit, which is a Studio apartment currently listed from $890. Here are the most affordable First Settlement apartments for rent in Madison, WI:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| The Shield | A2 | 1BR,1BA | $842 |
| 106 S Hancock St | Studio | Studio,1BA | $890 |
| 632 Howard Place | 632 Howard Place - 304 | Studio,1BA | $895 |
Best Value Apartments for Rent in First Settlement, WI
As of March 02, 2026 the best value apartment in the First Settlement area is the $1.38 price per square foot 453 W Mifflin St Model at 453 W Mifflin St, Unit 1 in the in the The Isthmus neighborhood starting from $1,845. The second greatest value First Settlement apartment is the 857 E Gorham St Model at 857 E Gorham St, Unit 857 starting at $1,900 with a $1.46 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 Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| 453 W Mifflin St, Unit 1 | 453 W Mifflin St | 3BR,1BA | $1.38 |
| 857 E Gorham St, Unit 857 | 857 E Gorham St | 3BR,1BA | $1.46 |
| Pres House Apartments | Bedroom (Shared) | 4BR,2BA | $1.37 |
| City Place | Two Bedroom Two Bathroom | 2BR,2BA | $1.54 |
| 229 Lakelawn *Student Housing* | 4 Bedroom 26-27 School Year / Room | 4BR,3BA | $1.18 |
| Collegiate Campus Apartments | 3 Bedroom 2 Bath Lake Views (7th/8th Floor) | 3BR,2BA | $0.74 |
| 451 W Mifflin St, Unit 3 | 451 W Mifflin St | 2BR,1BA | $1.27 |
| 17 N Bassett St | 17 N Bassett St | 1BR,1BA | $1.46 |
| The Shield | A2 | 1BR,1BA | $1.09 |
| 315 N Blair St | 315 N Blair St | 1BR,1BA | $1.47 |
Frequently Asked Questions about First Settlement
What type of rentals are currently available in First Settlement?
There are currently 485 Apartments for Rent in First Settlement, WI with pricing that ranges from $650 to $14,130. There are also 28 Single Family Homes for rent, Condos, and Townhome rentals currently available in First Settlement ranging from $1,050 to $4,000.
What is the current price range for Rental Homes in First Settlement?
Today's rental pricing for Homes for Rent, Condos and Townhomes in First Settlement ranges from $1,050 to $4,000 with an average monthly rent of $2,446.
How much are larger Three and Four Bedroom Rentals in First Settlement?
For those who are looking for larger living arrangements, Three Bedroom Apartments in First Settlement range from $675 to $14,130, while Three Bedroom Homes, Condos, and Townhomes for rent range from $2,100 to $2,745. Four Bedroom Single-Family rentals are also available starting from $2,200 and Four Bedroom Apartments start at $650.
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

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.

Maximizing Your Refund: Essential Tax Tips for Renters
Written by: Christine Leonard, Esq.
Other than tax professionals, I can’t think of anyone who looks forward to tax season. For everybody else, April is a stressful month to collect information and meet deadlines.

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.

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.