Cheap Apartments for Rent in the South Madison Neighborhood of Madison, WI from $700 (49 Rentals)

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Search the lowest-cost Apartments available for rent right now in the South Madison 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

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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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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358 E Lakeside St
1 to 2 Bedroom Apartments

358 E Lakeside St

358 E Lakeside StMadison, WI 53715
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Shenandoah Apartments
1 to 2 Bedroom Apartments

Shenandoah Apartments

1331 South StMadison, WI 53715
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Badger Apartments
2 Bedroom Apartments

Badger Apartments

902 W Badger RdMadison, WI 53713
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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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Avalon Madison Village
1 to 3 Bedroom Apartments

Avalon Madison Village

4647 Atticus WayMadison, WI 53711
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Wingra Shores
1 to 3 Bedroom Apartments

Wingra Shores

2628 Arbor DrMadison, WI 53711
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2606-2608 Ardsley Cir
1 to 2 Bedroom Apartments

2606-2608 Ardsley Cir

2606-2608 Ardsley CirMadison, WI 53713
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905 Magnolia Ln
2 Bedroom Apartments

905 Magnolia Ln

905 Magnolia LnMadison, WI 53713
  • Utilities Included

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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Showing Results 1-49, Page 1 of 1

South Madison, Madison, WI Local Guide

Cheapest Available South Madison Apartments for Rent

 

The cheapest available apartment rental in the South Madison area of Madison, WI is a Studio unit found at Oakridge Apartments priced from $800. Lake Point Terrace has the second lowest priced unit, which is a 1 Bed apartment currently listed from $988. Here are the most affordable South Madison apartments for rent in Madison, WI:

Apartment ListingModel NameBed/BathPriced From
Oakridge ApartmentsStudioStudio,1BA$800
Lake Point TerraceReef1BR,1BA$988
Park House ApartmentsStudio 1 BathroomStudio,1BA$1,025
The Ridge Apartments1 Bed 1 Bath Corner1BR,1BA$1,030
Executive East Apartments1 Bedroom/1 Bathroom1BR,1BA$1,045
Town's Edge Apartments1 Bed 1 Bath 1035/25001BR,1BA$1,045
Southview Apartments2 Bed 1 Bath2BR,1BA$1,095
Pirate Island Apartments600- 1br1BR,1BA$1,100

Best Value Apartments for Rent in South Madison, WI

As of December 17, 2025 the best value apartment in the South Madison area is the $1.43 price per square foot 2BR/2.0BA Model at Wingra West in the in the Downtown Madison neighborhood starting from $2,500. The second greatest value South Madison apartment is the A3 Floor Plan (60LMI Income Restricted) Model at The Royal starting at $1,500 with a $1.41 price per square foot in the Pflaum Road neighborhood. Here is today’s list of the best values for South Madison apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Wingra West2BR/2.0BA2BR,2BA$1.43
The RoyalA3 Floor Plan (60LMI Income Restricted)2BR,2BA$1.41
River Bend Apartments at the ArboretumWhite Pine2BR,1BA$1.45
Colonial Apartments1 Br1BR,1BA$1.18
1026 W Badger Rd, Unit # 21026 W Badger Rd2BR,1BA$1.01
Executive East Apartments1 Bedroom/1 Bathroom1BR,1BA$1.16
Lake Point Drive Apartments2 Bed/ 1 Bath2BR,1BA$1.38
Pirate Island ApartmentsWaterside 1br1BR,1BA$1.42
Southview Apartments2 Bed 1 Bath2BR,1BA$1.39
Lake Point TerraceReef1BR,1BA$1.41

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
South Madison, Madison, WI

Ranked #36

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

Pet Friendliness Lifestyle Score

4.0
Pet Friendly

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Getting Around the South Madison Neighborhood in Madison, WI

Walk Score®

48 / 100

Car-Dependent

Most errands require a car

Bike Score®

71 / 100

Very Bikeable

Biking is convenient for most trips

Transit Score®

22 / 100

Minimal Transit

It may be possible to get on a bus

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 South Madison Apartments

What is a cheap apartment in South Madison?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in South Madison is under $1,100.

What is the price of a cheap apartment in South Madison?

The cheapest apartment in South Madison is Lake Point Terrace which is listed at $987, while the average apartment in South Madison costs $2,395.

What types of apartments are the cheapest in South Madison?

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 9 regular apartments in South Madison 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 South Madison?

Cheap apartments in South Madison have an average cost of $254 which is $2,141 cheaper than the average rent for all rentals in South Madison.

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!