Cheap Apartments for Rent in the Nakoma Neighborhood of Madison, WI from $500 (111 Rentals)

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Search the lowest-cost Apartments available for rent right now in the Nakoma area of Madison.

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property at 1481 Carver St

1481 Carver St

MadisonWI53713

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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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
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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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Zurich Haus
Studio to 1 Bedroom Apartments

Zurich Haus

2211 Carling DrMadison, WI 53711
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1019 Milton St
1 Bedroom Apartments

1019 Milton St

1019 Milton StMadison, WI 53715
  • Utilities Included

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.

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The Monticello
1 to 2 Bedroom Apartments

The Monticello

5015 Sheboygan AveMadison, WI 53705
Showing Results 1-50, Page 1 of 3

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 Schroeder Square Apartments priced from $950. Liberty Valley has the second lowest priced unit, which is a Studio apartment currently listed from $995. Here are the most affordable Nakoma apartments for rent in Madison, WI:

Apartment ListingModel NameBed/BathPriced From
Schroeder Square ApartmentsStudioStudio,1BA$950
Liberty ValleyStudioStudio,1BA$995
University Bay2116 1 Bedroom1BR,1BA$999
Maple Lawn Apartments1 Bedroom, 1 Bath1BR,1BA$1,000
Avalon Madison Village1 Bedroom 60%1BR,1BA$1,005
Nakoma CommonsStudioStudio,1BA$1,075
Chalet Gardens Apartments.1 Bedroom1BR,1BA$1,099
Arbor Arms Apartments1 Bed Arborville1BR,1BA$1,100
Valley View ApartmentsPoplar1BR,1BA$1,130

Best Value Apartments for Rent in Nakoma, WI

As of September 16, 2025 the best value apartment in the Nakoma area is the $1.44 price per square foot 3BR/3.0BA Model at Wingra West in the in the Downtown Madison neighborhood starting from $3,600. The second greatest value Nakoma apartment is the 1326 Vilas Ave Model at 1326 Vilas Ave, Unit Lower Flat starting at $1,800 with a $1.20 price per square foot in the Downtown Madison 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 West3BR/3.0BA3BR,3BA$1.44
1326 Vilas Ave, Unit Lower Flat1326 Vilas Ave2BR,2BA$1.20
STONE CREST APARTMENTS3 Bedroom 2 Bath3BR,2BA$1.32
Fiedler Apartments2 Bed 1.5 Bath Townhome2BR,1.5BA$1.35
Garden Point Apartments2.5 Bed 1 Bath2BR,1BA$1.43
1042 Erin St, Unit 11042 Erin St1BR,1BA$1.30
501 N. Whitney Way Madison, WI2BR/1.0BA2BR,1BA$1.44
4926 Ascot Ln, Unit 34926 Ascot Ln2BR,1BA$1.38
1319 Drake St, Unit #21319 Drake St1BR,1BA$1.08
Avalon Madison Village1 Bedroom 60%1BR,1BA$1.29

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Pet Friendly Lifestyle
Nakoma, Madison, WI

Ranked #30

Among cities in Wisconsin for Apartment listings with Pet Friendly Amenities.

Pet Friendliness Lifestyle Score

4.0
Pet Friendly

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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!

Getting Around the Nakoma Neighborhood in Madison, WI

Walk Score®

38 / 100

Car-Dependent

Most errands require a car

Bike Score®

62 / 100

Bikeable

Some bike infrastructure

Transit Score®

34 / 100

Some Transit

A few 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 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 $1,130.

What is the price of a cheap apartment in Nakoma?

The cheapest apartment in Nakoma is University Bay which is listed at $999, while the average apartment in Nakoma costs $12,995.

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 28 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 $310 which is $12,685 cheaper than the average rent for all rentals in Nakoma.

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.

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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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The Rental Move-In Inspection Checklist: A Guide for Renters

Written by: Trey Huguley

The move-in inspection checklist is a crucial tool for both tenants and landlords. This checklist, provided by the team at ApartmentHomeLiving.com, helps document the condition of an apartment at the time of move-in.

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Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between

Written by: Christine Leonard, Esq.

For many people, obstacles can arise during the rental application process for a variety of issues.

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The Ultimate Long-Distance Moving Checklist: Tips from a Real Estate Pro

Written by: Christine Leonard, Esq.

Hard truth. Moving is never easy. I’ve done it all – from local moves to cross-country relocations From packing to unpacking the last box, I have found moving to be an exhausting, expensive and stressful experience every time.