Cheap Apartments for Rent in the Old Market Place Neighborhood of Madison, WI from $400 (192 Rentals)

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

What Does “Rent Burdened” Mean? How Much Rent Is Too Much

Learn the official definition (spending 30% or more of your gross income on housing) and how to calculate your exact rent-to-income ratio. This guide offers expert tips on factoring in total housing costs (including utilities and fees) and budgeting accurately to avoid unnecessary financial strain.

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636 State St
$1,000 - $1,300
Total Monthly Price

Total Monthly Price

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$1,000 - $1,300
Total Monthly Price
$1,000 - $1,300
Studio to 1 Bedroom Apartment Available Now

636 State St

636 State StMadison, WI 53703
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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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137 E Gorham St
$1,100 - $1,800
Total Monthly Price

Total Monthly Price

Base Rent
$1,100 - $1,800
Total Monthly Price
$1,100 - $1,800
Studio to 2 Bedroom Apartment Available Now

137 E Gorham St

137 E Gorham StMadison, WI 53703
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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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409 W Doty St, Unit 1
$1,145
Total Monthly Price

Total Monthly Price

Base Rent
$1,145
Total Monthly Price
$1,145
Studio Apartment Available Aug 15

409 W Doty St, Unit 1

409 W Doty StMadison, WI 53703
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Constellation
Rent Specials
$1,199 - $3,199
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Total Monthly Price

Base Rent
$1,199 - $3,199
Total Monthly Price
$1,199 - $3,199
Studio to 3 Bedroom Apartments Available Now

Constellation

10 N Livingston StMadison, WI 53703
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Roommate Matching: Finding the Right Fit and Avoiding Pitfalls

When searching for a roommate, follow this list of essential steps and set clear expectations to create a solid foundation for a harmonious living situation.

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612 Howard Plz
$1,200 - $2,095
Total Monthly Price

Total Monthly Price

Base Rent
$1,200 - $2,095
Total Monthly Price
$1,200 - $2,095
Studio to 2 Bedroom Apartment Available Aug 15

612 Howard Plz

612 Howard PlzMadison, WI 53703
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1149 E Dayton St, Unit 3
$1,200
Total Monthly Price

Total Monthly Price

Base Rent
$1,200
Total Monthly Price
$1,200
1 Bedroom Apartment Available Sep 1

1149 E Dayton St, Unit 3

1149 E Dayton StMadison, WI 53703
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452 W Doty St, Unit #1
$1,250
Total Monthly Price

Total Monthly Price

Base Rent
$1,250
Total Monthly Price
$1,250
1 Bedroom Apartment Available Aug 15

452 W Doty St, Unit #1

452 W Doty StMadison, WI 53703
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How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide

Finding the right apartment starts with three things: location, cost, and amenities. Get the insider perspective from a real estate professional on how to nail all three.

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Old Market Place, Madison, WI Local Guide

Cheapest Available Old Market Place Apartments for Rent

 

The cheapest available apartment rental in the Old Market Place area of Madison, WI is a Studio unit found at 632 Howard Place priced from $895. 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 Old Market Place apartments for rent in Madison, WI:

Apartment ListingModel NameBed/BathPriced From
632 Howard Place632 Howard Place - 303Studio,1BA$895
126-128 S Franklin St1 BR1BR,1BA$929
502 E Main StEfficiencyStudio,1BA$999
Washington PlazaSmall 1 Bedroom1BR,1BA$1,000
Courtyard Apartments0BR/1.0BAStudio,1BA$1,055
Varsity Campus Apartments4-Bedroom, 2-Bath4BR,2BA$1,065
City RowA1 (50LMI Income Restricted)Studio,1BA$1,070
Greenspire Wilson Apartments0BR/1.0BAStudio,1BA$1,085
Langdon Hall ApartmentsStudiosStudio,1BA$1,085

Best Value Apartments for Rent in Old Market Place, WI

As of June 23, 2026 the best value apartment in the Old Market Place area is the $1.55 price per square foot 720 W Washington Ave Model at 720 W Washington Ave, Unit 301 in the in the Downtown Madison neighborhood starting from $2,127. The second greatest value Old Market Place 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 Old Market Place apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
720 W Washington Ave, Unit 301720 W Washington Ave3BR,2BA$1.55
Pres House ApartmentsBedroom (Shared)4BR,2BA$1.37
22 N Hancock StTwo-Bedroom2BR,1BA$1.38
127 N Franklin St, Unit 127127 N Franklin St3BR,1BA$1.67
Chapter at Madison4BR/3BA - D14BR,3BA$0.81
City PlaceTwo Bedroom Two Bathroom2BR,2BA$1.56
Valor on WashingtonTwo Bedroom2BR,1BA$1.32
123 N Franklin St, Unit Apt. 1123 N Franklin St2BR,1BA$1.57
Varsity Campus Apartments4-Bedroom, 2-Bath4BR,2BA$1.18
Washington PlazaSmall 1 Bedroom1BR,1BA$1.67

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

Discover the best student housing neighborhoods for renting in Madison, Wisconsin! This guide covers apartments near the University of Wisconsin-Madison, Edgewood University, Herzing University, and Madison Area Technical College, detailing locations like Regent, Shorewood Hills, Dudgeon-Monroe, and more for your perfect college home.

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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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Real Estate and Rental Term Glossary | ApartmentHomeLiving.com Renter University

From the letter A all the way to the letter Z, the Real Estate and Rental Term Glossary from the content team at ApartmentHomeLiving.com provides our visitors and shoppers with a little clarity and helpful guidance in navigating the real estate world through definitions and explainers for the top subjects and terms that someone may come across during the leasing, buying, or selling process.

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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.

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Pet Friendly Lifestyle
Old Market Place, Madison, WI

Ranked #7

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

Pet Friendliness Lifestyle Score

4.0
Pet Friendly

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Lifestyle Ratings

ApartmentHomeLiving.com is proud to bring you our detailed rental analysis called 'Lifestyle Ratings' - a comparison of rentals in metropolitan areas across the United States including Old Market Place, Madison, and the greater Madison area. LifeStyle Ratings are a useful tool for comparing and sorting apartments and neighborhoods when choosing your rental home. This takes in many factors including filtering automatically for proximity to parks, luxury housing options, kid and pet-friendly communities, availability of transit options, and how walkable or bikeable each community and area is. Find Lifestyle Search in the filter options (above). Happy Searching!

Frequently Asked Questions about Cheap Old Market Place Apartments

What is a cheap apartment in Old Market Place?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Old Market Place is under $1,085.

What is the price of a cheap apartment in Old Market Place?

The cheapest apartment in Old Market Place is 126-128 S Franklin St which is listed at $929, while the average apartment in Old Market Place costs $5,595.

What types of apartments are the cheapest in Old Market Place?

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 71 regular apartments in Old Market Place 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 Old Market Place?

Cheap apartments in Old Market Place have an average cost of $737 which is $4,858 cheaper than the average rent for all rentals in Old Market Place.

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

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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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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.

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An Insiders 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.

Articles, How-To's, and Tips

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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.

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Pet-Friendly Renting: Everything You Need to Know Before You Move

Written by: Christine Leonard, Esq.

For so many of us, pets are the best companions and a big part of our lives. For this reason, a pet-friendly house or apartment is often a very important - and nonnegotiable - part of a move.

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Creative Ways Developers Reimagine Retail Spaces as Residential Units

Written by: Robin Stewart

Adaptive reuse is when a commercial property is converted and repurposed. The real estate industry has embraced a growing number of these projects.