Cheap Apartments for Rent in Madisonville, KY from $500 (65 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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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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Maple Valley Townhomes
2 Bedroom Apartments

Maple Valley Townhomes

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

Donaldson Arms

1407 Howard StEvansville, IN 47713
  • Utilities Included
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Little River Landings
1 to 3 Bedroom Apartments

Little River Landings

1101 Pyle LnHopkinsville, KY 42240
  • Utilities Included

How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide

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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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 $625. 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$625
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$749
Legion Park & Heartwood Court ApartmentsLegion 1 Bed1BR,1BA$750
Ambassador VillasAmbassador 1 BD1BR,1BA$750
1631 S Main StOne Bed1BR,1BA$750

Best Value Apartments for Rent in Madisonville, KY and Nearby

As of June 12, 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 Kensington Model at Addison Place starting at $999 with a $0.86 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
Addison PlaceKensington2BR,2BA$0.86
Ross Center Village2BR/1.0BA2BR,1BA$0.85
Oak Tree Farms2 Bedroom, 1.5 Bath2BR,1.5BA$0.93
Morris Estates ApartmentsTwo Bedroom One Bathroom2BR,1BA$1.00
Indian WoodsThe Oak2BR,1BA$0.95
Willow RunThe Sterling2BR,1BA$0.92
Eagle Crossing2 Bedroom2BR,1BA$1.01
Senior Community-Franklin Place Apartments1 BDR1BR,1BA$0.84
Parkside Apartments2 Bedroom2BR,1BA$1.03

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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Madisonville, KY

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Remember the 3 Rules of Real Estate:
Location, Location, Location!

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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 $625 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 The Manning and starts from $1,199.

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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How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide

Written by: Robin Stewart

Evaluating rental properties for clients draws many parallels to house-hunting. Whether an apartment, loft, townhouse, or other rental, finding the right place means finding “home” for your client.

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Pet-Friendly Renting: Everything You Need to Know Before You Move

Written by: Christine Leonard, Esq.

For so many of us, pets are the best companions and a big part of our lives. For this reason, a pet-friendly house or apartment is often a very important - and nonnegotiable - part of a move.

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Creative Ways Developers Reimagine Retail Spaces as Residential Units

Written by: Robin Stewart

Adaptive reuse is when a commercial property is converted and repurposed. The real estate industry has embraced a growing number of these projects.

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Neighborhood and Market Insights: How to Choose the Right Area to Rent

Written by: Robin Stewart

Apartment-hunting can be a gargantuan task. Renters have a wish list of items—some luxuries, some necessities—but finding what you seek in the right place is perhaps the most important part of the journey.