Cheap Homes for Rent in the First Settlement Neighborhood of Madison, WI from $1,300 (20 Rentals)

How Many Bedrooms?Done
Select your price rangeDone
to
By AmenitiesDone
By Community TypeDone
Features and AvailabilityDone
Done

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

Finding Your Place in Madison: Neighborhoods Close to the City’s Biggest Jobs

Finding the right Madison apartment near work is easy. Browse our guide to the best neighborhoods for professionals, from State-Langdon to Bay Creek.

Read Article

Rent According to Income: A Look at Income-Restricted Rentals

Find income-restricted rentals and housing subsidies. Explore government programs designed to help low-income families secure stable, affordable housing.

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 1-20, Page 1 of 1

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. 126-128 S Franklin St has the second lowest priced unit, which is a 1 Bed apartment currently listed from $929. Here are the most affordable First Settlement apartments for rent in Madison, WI:

Apartment ListingModel NameBed/BathPriced From
The ShieldA21BR,1BA$842
126-128 S Franklin St1 BR1BR,1BA$929
106 S Hancock StStudioStudio,1BA$990
502 E Main StEfficiencyStudio,1BA$999
Axton5BR/5BA - The Five C ADA5BR,5BA$1,049

Best Value Apartments for Rent in First Settlement, WI

As of July 24, 2026 the best value apartment in the First Settlement area is the $1.87 price per square foot 3 Bed / 2 Bath Model at Galaxie High Rise Apartments in the in the The Isthmus neighborhood starting from $3,199. The second greatest value First Settlement apartment is the Bedroom (Shared) Model at Pres House Apartments starting at $1,700 with a $1.37 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.
Galaxie High Rise Apartments3 Bed / 2 Bath3BR,2BA$1.87
Pres House ApartmentsBedroom (Shared)4BR,2BA$1.37
916 E Gorham St3BR/1.0BA3BR,1BA$1.41
SEVEN27 at the Yards1 Bedroom1BR,1BA$1.46
Virtue1 Bed / 1 Bath1BR,1BA$1.85
Varsity Campus Apartments4-Bedroom, 2-Bath4BR,2BA$1.18
Lincoln SchoolOne Bedroom1BR,1BA$1.68
Tobacco Lofts at the YardsStudioStudio ,1BA$1.88
The ShieldA21BR,1BA$1.18
Towers on State2BR/1BA - B12BR,1BA$1.82

Frequently Asked Questions about First Settlement

What type of rentals are currently available in First Settlement?

There are currently 470 Apartments for Rent in First Settlement, WI with pricing that ranges from $700 to $14,130. There are also 34 Single Family Homes for rent, Condos, and Townhome rentals currently available in First Settlement ranging from $1,350 to $3,495.

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 $1,350 to $3,495 with an average monthly rent of $2,289.

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 $1,000 to $14,130, while Three Bedroom Homes, Condos, and Townhomes for rent range from $2,150 to $3,495. Four Bedroom Single-Family rentals are also available starting from $2,100 and Four Bedroom Apartments start at $700.

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.

Helpful Local Expert Guides

decorative image for Finding Your Place in Madison: Neighborhoods Close to the Citys Biggest Jobs article

Finding Your Place in Madison: Neighborhoods Close to the Citys Biggest Jobs

Written by: Mike Heuer

Madison, Wisconsin, is three communities in one. It is a college town that is home to the flagship university in the University of Wisconsin system.

decorative image for An Insider's Guide to 6 Reasons Why Locals Love Renting in Madison, Wisconsin article

An Insider's Guide to 6 Reasons Why Locals Love Renting in Madison, Wisconsin

Written by: Mike Heuer

Madison is Wisconsin’s capital city and its second-largest city, with a population of more than 260,000.

decorative image for Lakeshore to Lecture Hall: Finding Your Perfect Student Apartment in Madison, WI article

Lakeshore to Lecture Hall: Finding Your Perfect Student Apartment in Madison, WI

Written by: Mike Heuer

I am Mike, your guide to student housing in the Greater Madison, Wisconsin, area. Madison is a terrific city that also is the Capital of Wisconsin.

decorative image for The Expert's Guide To 10 Budget-Friendly Neighborhoods to Rent in Madison article

The Expert's 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.

Articles, How-To's, and Tips

decorative image for Rent According to Income: A Look at Income-Restricted Rentals article

Rent According to Income: A Look at Income-Restricted Rentals

Written by: Robin Stewart

The idea of affordable housing can be subjective. Every individual is in a different place financially and vocationally. What one may easily afford could be a struggle for someone else.

decorative image for Renters Insurance 101: What It Is, What It Covers, and Why You Need It article

Renters Insurance 101: What It Is, What It Covers, and Why You Need It

Written by: Robin Stewart

Insurance seems to be a part of life. In some states, having insurance is the law, as is the case for automobile insurance. Renters are no exception.

decorative image for Apartment Occupancy Rates: Renter Attraction vs Renter Retention article

Apartment Occupancy Rates: Renter Attraction vs Renter Retention

Written by: Robin Stewart

There’s a tenet in marketing about client or customer attraction and retention. Studies and data have consistently shown it costs less to keep a current customer than to attract a new one.

decorative image for How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide article

How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide

Written by: Robin Stewart

Evaluating rental properties for clients draws many parallels to house-hunting. Whether an apartment, loft, townhouse, or other rental, finding the right place means finding “home” for your client.