Cheap Apartments for Rent in Madrid, IA from $400 (30 Rentals)

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

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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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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Spruce Pointe
1 to 2 Bedroom Apartments

Spruce Pointe

126 Beedle DrAmes, IA 50014
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Granger Lofts
1 to 2 Bedroom Apartments

Granger Lofts

2202 Broadway StGranger, IA 50109
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Boone Park Apartments
1 to 2 Bedroom Apartments

Boone Park Apartments

1127 S Linn StBoone, IA 50036
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Oakwood
1 to 3 Bedroom Apartments

Oakwood

2101 Oakwood RdAmes, IA 50014
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Lake Park Apartments
1 Bedroom Apartments

Lake Park Apartments

602 Van Dorn StPolk City, IA 50226
  • 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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Oakview Apartments
1 to 4 Bedroom Apartments

Oakview Apartments

1429 Walton DrAmes, IA 50014
  • Utilities Included
Showing Results 1-30, Page 1 of 1

Madrid, IA Local Guide

Cheapest Available Madrid Apartments for Rent and Nearby

 

The cheapest available apartment rental in Madrid, IA is a Studio unit found at Hickory Ridge Apartments in the Eagle Ridge neighborhood priced from $725. College Creek Apartments in the Eagle Ridge neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $755. Here is today’s list of the most affordable Madrid apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Hickory Ridge Apartments0 bed, 1 bathStudio,1BA$725
College Creek Apartments1 Bedroom Apartment1BR,1BA$755
Boone Park Apartments1BR Upper1BR,1BA$760
Wyndsor TerraceStudioStudio,1BA$765
Lake Park Apartments1BR Ground1BR,1BA$805
West Field Apartments2 Bed/1 Bath2BR,1BA$890
SUNDANCE BOONE APARTMENTS2 Bedroom 2 Bathroom2BR,2BA$895
Destination 141Apartment - StudioStudio,1BA$895
Park Place Apartments2BR/1.0BA2BR,1BA$895
Haven ApartmentsElm1BR,1BA$900

Best Value Apartments for Rent in Madrid, IA and Nearby

As of January 26, 2026 the best value apartment in the Madrid area is the $0.92 price per square foot 3 Beds / 2 Baths Model at 802 Dickinson Ave in the in the Fountainview neighborhood starting from $1,200. The second greatest value Madrid apartment is the 4 Bedroom/2 Bathroom Model at Tripp Street Apartments starting at $1,200 with a $0.96 price per square foot in the Fountainview neighborhood. Here is today’s list of the best values for Madrid apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
802 Dickinson Ave3 Beds / 2 Baths3BR,2BA$0.92
Tripp Street Apartments4 Bedroom/2 Bathroom4BR,2BA$0.96
The Madison3x3 Unfurnished3BR,3BA$0.48
Anna's Grove by KadingVilla3BR,1BA$0.97
Villas at DeerwoodVilla3BR,1BA$0.97
Saylorville LakesideB3 - Sandpiper2BR,2BA$1.09
The Social West Ames®Davie - Station2BR,1BA$0.71
The Heights at Lincoln Swing#204 (3B)3BR,2BA$1.15
SUNDANCE BOONE APARTMENTS2 Bedroom 2 Bathroom2BR,2BA$1.08
Point at AmesFrisco A2BR,2BA$1.10

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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Best Local Schools in
Madrid, IA

School data provided by Great Schools

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

Explore Madrid, IA Rentals by Map

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See the most popular apartments and homes in Madrid, IA

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Frequently Asked Questions about Cheap Madrid Apartments

What is the Cheapest Studio apartment in Madrid?

Currently the most affordable Cheap Studio Apartment in Madrid is at Hickory Ridge Apartments listed at $725.

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

The lowest price for a Cheap One Bedroom Madrid Apartment is $755 at College Creek Apartments.

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

Today's best deal for a Cheap Two Bedroom Apartment in Madrid is starting from $860 at Boone Park Apartments.

What is the most affordable Madrid Three Bedroom Apartment?

The best deal on a cheap Madrid Three Bedroom Apartment rental is at Anna's Grove by Kading and starts from $975.

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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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.

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A Renters Guide for Tips on Writing Your Notice for Not Renewing Your Apartment

Written by: Bob Mallory

Packing up everything you own to move is so stressful for many that ending your apartment lease can feel like a small or unimportant task. Ending your lease involves more than simply turning over your keys on the last day.

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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.