Cheap Apartments for Rent in the Nakoma Neighborhood of Madison, WI from $500 (103 Rentals)

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Search the lowest-cost Apartments available for rent right now in the Nakoma 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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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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The Monticello
$1,350 - $2,5951 to 3 Bedroom Apartments Contact Us For Availability

The Monticello

5015 Sheboygan AveMadison, WI 53705
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45 N Orchard St
Studio to 1 Bedroom Apartments

45 N Orchard St

45 N Orchard StMadison, WI 53715
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Randall Park Rentals
Studio to 1 Bedroom Apartments

Randall Park Rentals

1308 Spring StMadison, WI 53715
Student Housing
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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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Otto's House
Studio to 1 Bedroom Apartments

Otto's House

2554 Kendall AveMadison, WI 53705
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5718 Balsam Rd
2 Bedroom Apartments

5718 Balsam Rd

5718 Balsam RdMadison, WI 53711
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1019 Milton St
1 Bedroom Apartments

1019 Milton St

1019 Milton StMadison, WI 53715
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Zurich Haus
Studio to 1 Bedroom Apartments

Zurich Haus

2211 Carling DrMadison, WI 53711
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The Monticello
1 to 2 Bedroom Apartments

The Monticello

5015 Sheboygan AveMadison, WI 53705
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65 Sunfish Ct
1 to 2 Bedroom Apartments

65 Sunfish Ct

65 Sunfish CtMadison, WI 53713
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Avalon Madison Village
1 to 3 Bedroom Apartments

Avalon Madison Village

4647 Atticus WayMadison, WI 53711
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Smart Renter's Guide: Calculating Affordable Rent & Housing Costs

Wondering how to determine your rental budget? This comprehensive guide covers everything from the 30% rule to hidden fees and effective budgeting strategies.

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Nakoma, Madison, WI Local Guide

Cheapest Available Nakoma Apartments for Rent

 

The cheapest available apartment rental in the Nakoma area of Madison, WI is a Studio unit found at 1301 Spring St priced from $905. University Bay has the second lowest priced unit, which is a Studio apartment currently listed from $1,079. Here are the most affordable Nakoma apartments for rent in Madison, WI:

Apartment ListingModel NameBed/BathPriced From
1301 Spring StStudios Available 8/15/23Studio,1BA$905
University BayStudioStudio,1BA$1,079
The Heights1 BED 1 BA – Income Restricted – 50%1BR,1BA$1,092
Southview Apartments2 Bed 1 Bath2BR,1BA$1,095
Chapel Hill ApartmentsStudioStudio,1BA$1,100
Maple Lawn Apartments1 Bedroom, 1 Bath1BR,1BA$1,110
Valley View ApartmentsJuneberryStudio,1BA$1,130
Bristol ArmsOxford1BR,1BA$1,132
Allen House Apartments0x1-390Studio,1BA$1,149

Best Value Apartments for Rent in Nakoma, WI

As of January 08, 2026 the best value apartment in the Nakoma area is the $1.43 price per square foot 2BR/2.0BA Model at Wingra West in the in the Downtown Madison neighborhood starting from $2,500. The second greatest value Nakoma apartment is the 2 Bedroom Model at Whitcomb Square Senior Apartment Homes (55+) starting at $1,350 with a $0.90 price per square foot in the Dudgeon-Monroe neighborhood. Here is today’s list of the best values for Nakoma apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Wingra West2BR/2.0BA2BR,2BA$1.43
Whitcomb Square Senior Apartment Homes (55+)2 Bedroom2BR,2BA$0.90
Woodland GlenForest2BR,2.5BA$1.42
STONECREST APARTMENTS3 Bedroom 2 Bath3BR,2BA$1.40
Oak Ridge at University Park Senior ApartmentsA2BR,2BA$1.43
426 Rushmore Ln, Unit 2426 Rushmore Ln2BR,1BA$1.45
Guilford Apartments3 Bedroom/ 1.5 Bathroom3BR,1BA$1.48
River Bend Apartments at the ArboretumWhite Pine2BR,1BA$1.45
1026 W Badger Rd, Unit # 21026 W Badger Rd2BR,1BA$1.01
Southview Apartments2 Bed 1 Bath2BR,1BA$1.39

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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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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Best Local Schools in
Nakoma, Madison, WI

School data provided by Great Schools

Lifestyle Ratings

ApartmentHomeLiving brings you comprehensive Lifestyle Ratings of neighborhoods, metropolitan areas, and rental properties across Wisconsin and customized analysis for Southwest Central Madison. LifeStyle Ratings are a useful tool for comparing and sorting apartments and neighborhoods when choosing your rental home. This takes in many factors including rankings of the best places for outdoor amenities like tennis courts, luxury amenities, transit availability, pet-friendly communities, places that make kids happy, and more. Find Lifestyle Search in the filter options (above). Happy Searching!

Frequently Asked Questions about Cheap Nakoma Apartments

What is a cheap apartment in Nakoma?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Nakoma is under $1,149.

What is the price of a cheap apartment in Nakoma?

The cheapest apartment in Nakoma is The Heights which is listed at $1,092, while the average apartment in Nakoma costs $5,395.

What types of apartments are the cheapest in Nakoma?

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 36 regular apartments in Nakoma 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 Nakoma?

Cheap apartments in Nakoma have an average cost of $460 which is $4,935 cheaper than the average rent for all rentals in Nakoma.

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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How to Make Your Apartment Holiday-Ready: Renter-Friendly Tips

Written by: Justin Habersaat

Getting your apartment ready for the holidays can be exciting but sometimes challenging in a smaller space. Here are some modern tips to keep things festive, safe, and inviting this season.

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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.

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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.