Cheap Apartments for Rent in the Sherman Neighborhood of Madison, WI from $600 (63 Rentals)

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Search the lowest-cost Apartments available for rent right now in the Sherman 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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Algoma Apartments
Studio to 2 Bedroom Apartments

Algoma Apartments

404 Algoma StMadison, WI 53704
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Tennyson Ridge
1 to 3 Bedroom Apartments

Tennyson Ridge

3834 Whitman LnMadison, WI 53704
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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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Northpointe
2 to 3 Bedroom Apartments

Northpointe

609 Vera CtMadison, WI 53704
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Brentwood Terrace
1 to 2 Bedroom Apartments

Brentwood Terrace

2018 N Sherman AveMadison, WI 53704
Senior Living
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Onsgard Place
2 Bedroom Apartments

Onsgard Place

1713-1721 Onsgard RdMadison, WI 53704
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Eastpointe
1 to 3 Bedroom Apartments

Eastpointe

309 Clyde Gallagher AveMadison, WI 53714
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2405 Monterey Dr
1 to 2 Bedroom Apartments

2405 Monterey Dr

2405 Monterey DrMadison, WI 53704
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Fair Oaks Apartments
Studio Apartments

Fair Oaks Apartments

3324 Milwaukee StMadison, WI 53714
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Port Vista
Studio to 1 Bedroom Apartments

Port Vista

3602-3702 Packers AveMadison, WI 53704
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The Andre Apartments
1 to 3 Bedroom Apartments

The Andre Apartments

2350 Winnebago StMadison, WI 53704
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PMM + MS
1 to 3 Bedroom Apartments

PMM + MS

2309 Monterey DrMadison, WI 53704
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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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Sherman, Madison, WI Local Guide

Cheapest Available Sherman Apartments for Rent

 

The cheapest available apartment rental in the Sherman area of Madison, WI is a 1 Bed unit found at Rise-Madison priced from $639. Eagle Harbor has the second lowest priced unit, which is a 2 Beds apartment currently listed from $686. Here are the most affordable Sherman apartments for rent in Madison, WI:

Apartment ListingModel NameBed/BathPriced From
Rise-Madison1 Bed / 1 Bath1BR,1BA$639
Eagle Harbor2 Bedroom 1 Bathroom2BR,1BA$686
PMM + MS2314 Brentwood2BR,1BA$900
Madison Mayfair Apartments1 Bedroom1BR,1BA$1,050
Freedom Park1 Bed/ 1 Bath1BR,1BA$1,050
Elka Lane Apartments1BR/1BA1BR,1BA$1,100
The Oscar Family ApartmentsIncome Restricted - One Bedroom 60%1BR,1BA$1,133
The Oscar Senior ApartmentsIncome Restricted One Bedroom 50%1BR,1BA$1,165
Ridgeview HeightsGarden Level 1-Bed, 1-Bath *FIRST MONTH FREE*1BR,1BA$1,200

Best Value Apartments for Rent in Sherman, WI

As of December 19, 2025 the best value apartment in the Sherman area is the $1.55 price per square foot 3 Bed / 2 Bath Model at Rise-Madison in the in the Near East Side neighborhood starting from $2,030. The second greatest value Sherman apartment is the 3x2 Income restricted Model at Carbon at Union Corners starting at $1,811 with a $1.41 price per square foot in the Near East Side neighborhood. Here is today’s list of the best values for Sherman apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Rise-Madison3 Bed / 2 Bath3BR,2BA$1.55
Carbon at Union Corners3x2 Income restricted3BR,2BA$1.41
205 S Fair Oaks Ave, Unit 205 South Fair Oaks Ave205 S Fair Oaks Ave2BR,1BA$1.61
The Andre Apartments2x22BR,2BA$1.45
Northern BluffsAmber2BR,1BA$1.22
Granite Ridge Apartments2 BR + Den (1006 SF)2BR,1BA$1.55
2069 Winnebago St, Unit 2069 A2069 Winnebago St2BR,1BA$1.61
Freedom Park1 bed/1 bath + Den1BR,1BA$1.38
Elka Lane Apartments1BR/1BA1BR,1BA$1.64
Eagle Harbor1 Bedroom 1 Bathroom1BR,1BA$1.50

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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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
Sherman, 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
Sherman, Madison, WI

School data provided by Great Schools

Getting Around the Sherman Neighborhood in Madison, WI

Walk Score®

71 / 100

Very Walkable

Most errands can be accomplished on foot

Bike Score®

77 / 100

Very Bikeable

Biking is convenient for most trips

Transit Score®

40 / 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 Sherman Apartments

What is a cheap apartment in Sherman?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Sherman is under $1,200.

What is the price of a cheap apartment in Sherman?

The cheapest apartment in Sherman is Rise-Madison which is listed at $639, while the average apartment in Sherman costs $4,016.

What types of apartments are the cheapest in Sherman?

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 45 regular apartments in Sherman 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?

Cheap apartments in Sherman have an average cost of $406 which is $3,610 cheaper than the average rent for all rentals in Sherman.

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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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.

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How to Negotiate Your Apartment Lease and Save Money

Written by: Christine Leonard, Esq.

Everything is a negotiation in real estate!