Cheap Homes for Rent in Madison, WI from $700 (29 Rentals)

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

Cheap Homes in Madison.

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

Know Your Rights - How Discrimination Laws Impact Landlords and Tenants

Read our practical guide to landlord and tenant rights. Understand protected classes, reasonable accommodations, and legal exceptions to prevent housing discrimination.

Read Article
Showing Results 1-29, Page 1 of 1

Madison, WI Local Guide

Cheapest Neighborhoods for Apartments in Madison, WI

Pricing Updated: 05/02/2025

Current apartment rentals in the Madison, WI area range in price from $482 to $10,625 with an overall median price of $2,559. The three Madison neighborhoods with the lowest median rent pricing are North Lake Mendota at $678, Capitol View Heights at $565, and West Side at $646. Here is today’s list of the top 10 neighborhoods with the lowest median pricing for Madison Apartments for rent:

NeighborhoodMedian PriceMin PriceAvailable Units
North Lake Mendota$1,650$67832
Capitol View Heights$1,725$565274
West Side$1,795$646135
Meadowood$1,825$625248
Orchard Ridge$1,825$625176
Shorecrest$1,889$1,08562
Greentree$1,900$625294
Gateway Dane$1,915$61977
Burr Oaks$1,950$565325
Dudgeon-Monroe$1,972$565414

Cheapest Available Madison Apartments for Rent

 

The cheapest available apartment rental in Madison, WI is a 1 Bed unit found at The Canyons in the Glen Oak Hills neighborhood priced from $625. University Park Commons in the West Side neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $646. Here is today’s list of the most affordable Madison apartments for rent:

Apartment ListingModel NameBed/BathPriced From
The CanyonsOne Bedroom Income Restricted-StyleB1BR,1BA$625
University Park CommonsL1BR,1BA$646
Prairie Creek1x1 Senior Apartment1BR,1BA$656
The Oscar Senior Apartments1 Bedroom Income Restricted1BR,1BA$678
Hub on Campus Madison3X5D33BR,3BA$730
Pres House ApartmentsBedroom A,B,C,D (Individual)4BR,2BA$750
The Limerick Townhomes & Senior ApartmentsTownhome-Floorplan E3BR,2BA$839
The ShieldA21BR,1BA$842
Hellenbrand ApartmentsStudio--111 S BassettStudio,1BA$850
Lion's Gate at GrandviewEFF/StudioStudio,1BA$875

Best Value Apartments for Rent in Madison, WI

As of May 02, 2025 the best value apartment in the Madison area is the $1.04 price per square foot 3527 Marcy Rd Model at 3527 Marcy Rd, Unit 3 bed room duplex in the in the Eken Park neighborhood starting from $1,900. The second greatest value Madison apartment is the 5825 Balsam Rd Model at 5825 Balsam Rd, Unit 2 starting at $1,999 with a $1.14 price per square foot in the Outer Verona neighborhood. Here is today’s list of the best values for Madison apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
3527 Marcy Rd, Unit 3 bed room duplex3527 Marcy Rd3BR,1BA$1.04
5825 Balsam Rd, Unit 25825 Balsam Rd3BR,1.5BA$1.14
Whitcomb Square Senior Apartment Homes (55+)2 Bedroom2BR,2BA$1.00
Pres House ApartmentsBedroom A,B,C,D (Individual)4BR,2BA$0.64
Eagle Harbor Apartments3 Bedroom 2 Bathroom3BR,2BA$1.26
Kestrel Apartments1x11BR,1BA$1.19
Executive East Apartments1 Bedroom/1 Bathroom1BR,1BA$1.16
Mardelle Apartments1 Bdrm.1BR,1BA$1.26
201 Deer Valley Rd, Unit 2201 Deer Valley Rd1BR,1BA$1.24
Prairie Creek1x1 Senior Apartment1BR,1BA$0.88

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

Frequently Asked Questions about Madison

What type of rentals are currently available in Madison?

There are currently 1718 Apartments for Rent in Madison, WI with pricing that ranges from $565 to $14,120. There are also 156 Single Family Homes for rent, Condos, and Townhome rentals currently available in Madison ranging from $700 to $7,500.

What is the current price range for Rental Homes in Madison?

Today's rental pricing for Homes for Rent, Condos and Townhomes in Madison ranges from $700 to $7,500 with an average monthly rent of $2,542.

How much are larger Three and Four Bedroom Rentals in Madison?

For those who are looking for larger living arrangements, Three Bedroom Apartments in Madison range from $699 to $14,120, while Three Bedroom Homes, Condos, and Townhomes for rent range from $1,400 to $3,600. Four Bedroom Single-Family rentals are also available starting from $2,400 and Four Bedroom Apartments start at $750.

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 Navigating the Rental Market: Tips for First-Time Renters article

Navigating the Rental Market: Tips for First-Time Renters

Written by: Sandy Baker

Making the decision to rent is exciting and terrifying at the same time. For many people, there are a lot of unknowns.

decorative image for Rise of Digital Nomads: Remote Work Tips for Apartment Renters article

Rise of Digital Nomads: Remote Work Tips for Apartment Renters

Written by: Brandie Parton

As a digital nomad, you no longer call a set address or office building your home for eight hours of the day or more.

decorative image for Know Your Rights - How Discrimination Laws Impact Landlords and Tenants article

Know Your Rights - How Discrimination Laws Impact Landlords and Tenants

Written by: Christine Leonard, Esq.

Everyone needs a place to live and to call home. For decades, the federal government has established protections to ensure that individuals and families can find housing free from discriminatory barriers.

decorative image for Renting Smart: Lease Basics Every Renter Needs article

Renting Smart: Lease Basics Every Renter Needs

Written by: Christine Leonard, Esq.

Often, in the excitement of finding a new place to live, there’s a rush to make it happen, and - too often - a new tenant signs a lease without reading it carefully.