Cheap Apartments for Rent in Madisonville, KY from $500 (59 Rentals)

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Search the lowest-cost Apartments available for rent right now in Madisonville.

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Pennyrile Park
1 to 3 Bedroom Apartments

Pennyrile Park

652 S Kentucky AveMadisonville, KY 42431
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Hidden Hills
1 to 2 Bedroom Apartments

Hidden Hills

401 Allison AveMadisonville, KY 42431
  • Utilities Included

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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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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Maple Valley Townhomes
2 Bedroom Apartments

Maple Valley Townhomes

618 E Waverly StMorganfield, KY 42437
  • Utilities Included
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Donaldson Arms
1 to 2 Bedroom Apartments

Donaldson Arms

1407 Howard StEvansville, IN 47713
  • Utilities Included

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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Little River Landings
1 to 3 Bedroom Apartments

Little River Landings

1101 Pyle LnHopkinsville, KY 42240
  • Utilities Included
property at 199 Ricedale Cir

$800 - $995

1 To 2 Bedroom Rentals

Available Now

199 Ricedale Cir

DrakesboroKY42337
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Kirkman Terrace
1 to 2 Bedroom Apartments

Kirkman Terrace

100 Croft StHopkinsville, KY 42240
Senior Living
  • Utilities Included

Smart Renter's Guide: Calculating Affordable Rent & Housing Costs

Wondering how to determine your rental budget? This comprehensive guide covers everything from the 30% rule to hidden fees and effective budgeting strategies.

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Madisonville, KY Local Guide

Cheapest Available Madisonville Apartments for Rent and Nearby

 

The cheapest available apartment rental in Madisonville, KY is a 1 Bed unit found at Willow Run priced from $515. 225 Clara Drive has the second lowest priced unit, which is a 2 Beds apartment currently listed from $600. Here is today’s list of the most affordable Madisonville apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Willow RunThe Hampton1BR,1BA$515
225 Clara Drive*2/12BR,1BA$600
Graystone Henderson1 Bedroom1BR,1BA$625
Senior Community-Franklin Place Apartments1 Bedroom1BR,1BA$675
PENNYRILE SENIOR APARTMENTS1 Bedroom 1 Bathroom1BR,1BA$699
Heathmoore - Evansville1 Bed 1 Bath1BR,1BA$700
Slate RunOne Bedroom One Bath1BR,1BA$719
Village GreenCypress1BR,1BA$730
Legion Park & Heartwood Court ApartmentsLegion 1 Bed1BR,1BA$750
Ambassador VillasAmbassador 1 BD1BR,1BA$750

Best Value Apartments for Rent in Madisonville, KY and Nearby

As of April 28, 2026 the best value apartment in the Madisonville area is the $0.95 price per square foot 3 Bedroom 2 Bath Model at Royal Arms of Owensboro in the starting from $1,330. The second greatest value Madisonville apartment is the 2BR/1.0BA Model at Ross Center Village starting at $975 with a $0.85 price per square foot in the Lincoln-Bellemeade neighborhood. Here is today’s list of the best values for Madisonville apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Royal Arms of Owensboro3 Bedroom 2 Bath3BR,2BA$0.95
Ross Center Village2BR/1.0BA2BR,1BA$0.85
Wilshire Townhomes2BR2BR,1.5BA$0.95
Morris Estates ApartmentsTwo Bedroom One Bathroom2BR,1BA$0.89
Hornbrook Estates ApartmentsTwo Bedroom One Bathroom2BR,1BA$0.93
Kirkman Terrace2 Bedroom2BR,1BA$0.96
Willow RunThe Sterling2BR,1BA$0.92
Eagle Crossing2 Bedroom2BR,1BA$1.01
Kingston Square ApartmentsTwo Bedroom2BR,1BA$1.02
Senior Community-Franklin Place Apartments1 BDR1BR,1BA$0.84

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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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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Madisonville, KY

School data provided by Great Schools

Remember the 3 Rules of Real Estate:
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Frequently Asked Questions about Cheap Madisonville Apartments

How much is rent for a Cheap One Bedroom Madisonville Apartment?

The lowest price for a Cheap One Bedroom Madisonville Apartment is $515 at Willow Run.

What is the lowest price for a Cheap Two Bedroom Madisonville Apartment for rent?

Today's best deal for a Cheap Two Bedroom Apartment in Madisonville is starting from $600 at 225 Clara Drive.

What is the most affordable Madisonville Three Bedroom Apartment?

The best deal on a cheap Madisonville Three Bedroom Apartment rental is at Canoe Creek Apartments and starts from $1,219.

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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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.

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18 Must-Ask Rental Tour Questions That Reveal the Truth about a Property

Written by: Lauren Harrington

Renting your next home can feel thrilling and overwhelming at the same time.