Cheap Apartments for Rent in the South Madison Neighborhood of Madison, WI from $700 (87 Rentals)

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Search the lowest-cost Apartments available for rent right now in the South Madison 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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Riverwood Apartments
$1,125 - $1,495
Total Monthly Price

Total Monthly Price

Base Rent
$1,125 - $1,495
Total Monthly Price
$1,125 - $1,495
1 to 2 Bedroom Apartments Available Now

Riverwood Apartments

6417-6431 Bridge RdMadison, WI 53713
Affordability
  • Verified
  • Customer Reviewed
  • Utilities Included

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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Arbor Hills
$1,199 - $1,629
Total Monthly Price

Total Monthly Price

Base Rent
$1,199 - $1,629
Total Monthly Price
$1,199 - $1,629
1 to 2 Bedroom Apartments Available Now

Arbor Hills

2809 Curry PkwyMadison, WI 53713
Furnished
  • Verified
  • Customer Reviewed
  • Utilities Included

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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The Sofia
$1,440 - $2,460
Total Monthly Price

Total Monthly Price

Base Rent
$1,440 - $2,460
Total Monthly Price
$1,440 - $2,460
Studio to 2 Bedroom Apartments Available May 1

The Sofia

1252 S Park StMadison, WI 53715
Eco-Friendly
  • Verified
  • Utilities Included
  • Smoke Free

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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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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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. The Ridge Apartments has the second lowest priced unit, which is a 1 Bed apartment currently listed from $1,005. Here are the most affordable South Madison apartments for rent in Madison, WI:

Apartment ListingModel NameBed/BathPriced From
Oakridge ApartmentsStudioStudio,1BA$800
The Ridge Apartments1 Bed 1 Bath Interior1BR,1BA$1,005
Pirate Island ApartmentsStudioStudio,1BA$1,020
Park House ApartmentsStudio 1 BathroomStudio,1BA$1,025
The Rockwell Apartments1 Bed 1 Bath1BR,1BA$1,035
Town's Edge Apartments1 Bed 1 Bath 10191BR,1BA$1,050
Capitol View Apartments1 Bed 1 Bath1BR,1BA$1,090
Colonial Apartments1 Br1BR,1BA$1,090
Lake Point TerraceReef1BR,1BA$1,124

Best Value Apartments for Rent in South Madison, WI

As of April 29, 2026 the best value apartment in the South Madison area is the $1.47 price per square foot Two Bedroom, One Bath Model at Park Cedar Apartments in the in the Downtown Madison neighborhood starting from $1,595. The second greatest value South Madison apartment is the A3 Floor Plan (80LMI Income Restricted) Model at The Royal starting at $1,650 with a $1.55 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.
Park Cedar ApartmentsTwo Bedroom, One Bath2BR,1BA$1.47
The RoyalA3 Floor Plan (80LMI Income Restricted)2BR,2BA$1.55
Riverwood Apartments2 bedroom 2 bath2BR,2BA$1.42
Kensington Pointe Apartments2bdrr2BR,1BA$1.46
River Bend Apartments at the ArboretumWhite Pine2BR,1BA$1.45
Colonial Apartments1 Br1BR,1BA$1.15
930 S Brooks St, Unit 3930 S Brooks St2BR,1BA$0.91
Gardens on Hillcrest2 Bed 1 Bath2BR,1BA$1.67
Lake Point Apartments2 Bed 1 Bath2BR,1BA$1.64
Lake Point TerraceReef1BR,1BA$1.61

10 Hidden Costs of Renting You Should Budget for Before Signing a Lease

Avoid financial stress when renting. Learn about the 10 most common hidden costs—from pet fees to utilities—you must budget for before you sign a lease.

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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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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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Pet Friendly Lifestyle
South Madison, Madison, WI

Ranked #41

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

Pet Friendliness Lifestyle Score

4.0
Pet Friendly

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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 $1,124.

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

The cheapest apartment in South Madison is Oakridge Apartments which is listed at $995, while the average apartment in South Madison costs $2,950.

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 13 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 $189 which is $2,761 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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Expert Solutions for Creating the Perfect Work-From-Home Apartment Layouts

Written by: Lauren Harrington

This article is based on first-hand experience managing apartment communities and helping renters adapt to their spaces after moving in.

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

Written by: Lauren Harrington

This article draws from first-hand renter experiences and recurring financial challenges reported after moving in.

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Maximizing Your Refund: Essential Tax Tips for Renters

Written by: Christine Leonard, Esq.

Other than tax professionals, I can’t think of anyone who looks forward to tax season. For everybody else, April is a stressful month to collect information and meet deadlines.