Cheap Apartments for Rent in the Sherman Terrace Neighborhood of Madison, WI from $400 (262 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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Carbon
$771 - $1,943
Total Monthly Price

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$771 - $1,943
Total Monthly Price
$771 - $1,943
1 to 3 Bedroom Apartments Available Now

Carbon

2418 Winnebago StMadison, WI 53704
Pet Friendly
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  • Utilities Included
  • Low Income
property at 522 W Wilson St

$850

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Total Monthly Price

Base Rent
$850
Total Monthly Price
$850

Studio, 1 Bath Home for Rent

Available Now

522 W Wilson St

MadisonWI53703

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636 State St, Unit 205
$1,030
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$1,030
Total Monthly Price
$1,030
1 Bedroom Apartment Available Now

636 State St, Unit 205

636 State StMadison, WI 53703
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121 N Hancock St
$1,050 - $1,150
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$1,050 - $1,150
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$1,050 - $1,150
Studio to 1 Bedroom Apartment Available Sep 1

121 N Hancock St

121 N Hancock StMadison, WI 53703
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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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property at 1259 Spaight St

$1,095 - $1,200

Studio To 1 Bedroom Rentals

Available Now

1259 Spaight St

MadisonWI53703
property at 714 N Oak St

$950 - $1,100

1 Bedroom Rentals

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714 N Oak St

MadisonWI53704

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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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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 148-150 E Gorham St priced from $600. The Shield has the second lowest priced unit, which is a 1 Bed apartment currently listed from $842. Here are the most affordable Sherman Terrace apartments for rent in Madison, WI:

Apartment ListingModel NameBed/BathPriced From
148-150 E Gorham St148-150 E Gorham St - 3F Ro...1BR,1BA$600
The ShieldA21BR,1BA$842
509 N Lake StOne-Bed1BR,1BA$850
Theory MadisonD94BR,4BA$865
Courtyard Apartments0BR/1.0BAStudio,1BA$895
Metropolitan ApartmentsStudio, 1 bathStudio,1BA$900
126-128 S Franklin St1 BR1BR,1BA$929
The Badger Den Apartments on GilmanWaunonaStudio,1BA$949
Gargano PropertiesstudioStudio,1BA$980
106 S Hancock StStudioStudio,1BA$990

Best Value Apartments for Rent in Sherman Terrace, WI

As of August 28, 2026 the best value apartment in the Sherman Terrace area is the $0.44 price per square foot 4 Bed 2 Bath Model at 111 E Gorham St in the in the The Isthmus neighborhood starting from $700. The second greatest value Sherman Terrace 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 Sherman Terrace apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
111 E Gorham St4 Bed 2 Bath4BR,2BA$0.44
Pres House ApartmentsBedroom (Shared)4BR,2BA$1.37
202 N Blair St, Unit 2202 N Blair St3BR,1BA$1.42
916 E Gorham St2BR/1.0BA2BR,1BA$1.45
Collegiate Campus Apartments4 Bedroom 2 Bath City Views (7th/8th Floor)4BR,2BA$0.61
Cambridge Place1BR1BR,1BA$1.34
Rise-Madison1 Bed / 1 Bath1BR,1BA$1.46
The ShieldA21BR,1BA$1.18
Morgan House2 Bedroom, 1 Bathroom2BR,1BA$1.14
636 State St, Unit 205636 State St1BR,1BA$1.47

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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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 $990.

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

The cheapest apartment in Sherman Terrace is 148-150 E Gorham St which is listed at $600, while the average apartment in Sherman Terrace costs $1,865.

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 472 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 $893 which is $972 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.

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