Cheap Apartments for Rent in the Sherman Terrace Neighborhood of Madison, WI from $400 (213 Rentals)

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

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Sherman Terrace, Madison, WI Local Guide

Cheapest Available Sherman Terrace Apartments for Rent

 

The cheapest available apartment rental in the Sherman Terrace area of Madison, WI is a 1 Bed unit found at Rise-Madison priced from $639. 106 S Hancock St has the second lowest priced unit, which is a Studio apartment currently listed from $890. Here are the most affordable Sherman Terrace apartments for rent in Madison, WI:

Apartment ListingModel NameBed/BathPriced From
Rise-Madison1 Bed / 1 Bath1BR,1BA$639
106 S Hancock StStudioStudio,1BA$890
632 Howard Place632 Howard Place - 304Studio,1BA$895
Capital Park ApartmentsEfficiencyStudio,1BA$999
Madison Mayfair Apartments1 Bedroom1BR,1BA$1,050
Courtyard Apartments0BR/1.0BAStudio,1BA$1,060
City RowA1 (50LMI Income Restricted)Studio,1BA$1,070
Langdon Hall ApartmentsStudiosStudio,1BA$1,075
Varsity Campus Apartments4-Bedroom, 2-Bath4BR,2BA$1,095
Baldwin Corners Apartments210/211/310/3111BR,1BA$1,130

Best Value Apartments for Rent in Sherman Terrace, WI

As of January 07, 2026 the best value apartment in the Sherman Terrace area is the $1.25 price per square foot 17 N Bassett St Model at 17 N Bassett St, Unit 2 in the in the The Isthmus neighborhood starting from $2,360. The second greatest value Sherman Terrace apartment is the 110 S Blair St Model at 110 S Blair St, Unit 2 starting at $1,600 with a $1.19 price per square foot in the The Isthmus neighborhood. Here is today’s list of the best values for Sherman Terrace apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
17 N Bassett St, Unit 217 N Bassett St4BR,2BA$1.25
110 S Blair St, Unit 2110 S Blair St3BR,1BA$1.19
514 E Johnson St, Unit 2514 E Johnson St1BR,1BA$1.00
22 N Hancock StTwo-Bedroom2BR,1BA$1.33
229 Lakelawn *Student Housing*4 Bedroom 26-27 School Year / Room4BR,3BA$1.18
450 W Washington Ave, Unit 3450 W Washington Ave1BR,1BA$1.20
Collegiate Campus Apartments3 Bedroom 2 Bath Lake Views (7th/8th Floor)3BR,2BA$0.74
451 W Mifflin St, Unit 3451 W Mifflin St2BR,1BA$1.27
Varsity Campus Apartments4-Bedroom, 2-Bath4BR,2BA$1.21
914-16 N Oak St2Bedroom2BR,1BA$1.33

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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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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Lifestyle Ratings

ApartmentHomeLiving brings you comprehensive Lifestyle Ratings of rentals and neighborhoods across the USA, including 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 the best proximity to parks and outdoor amenities, luxury amenities, pet-friendly features, family-friendly amenities, proximity to transit, in addition to floorplans, availablity, and pricing. These search options are in the site filters at the top of this page.

Frequently Asked Questions about Cheap Sherman Terrace Apartments

What is a cheap apartment in Sherman Terrace?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Sherman Terrace is under $1,130.

What is the price of a cheap apartment in Sherman Terrace?

The cheapest apartment in Sherman Terrace is Rise-Madison which is listed at $639, while the average apartment in Sherman Terrace costs $9,500.

What types of apartments are the cheapest in Sherman Terrace?

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 200 regular apartments in Sherman Terrace 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 Sherman Terrace?

Cheap apartments in Sherman Terrace have an average cost of $997 which is $8,503 cheaper than the average rent for all rentals in Sherman Terrace.

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

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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

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