Cheap Apartments for Rent in Madrid, IA from $439 (62 Rentals)

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

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211 S Green St
1 to 2 Bedroom Apartments

211 S Green St

211 S Green StMadrid, IA 50156

Rent According to Income: A Look at Income-Restricted Rentals

Find income-restricted rentals and housing subsidies. Explore government programs designed to help low-income families secure stable, affordable housing.

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Renters Insurance 101: What It Is, What It Covers, and Why You Need It

From theft to fire to water damage, the unexpected can happen to any renter. Discover why renters insurance is one of the smartest and most affordable investments you can make as a tenant.

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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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Spruce Pointe
1 to 2 Bedroom Apartments

Spruce Pointe

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

Granger Lofts

2202 Broadway StGranger, IA 50109
  • Utilities Included
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Furman Western Hills
Studio to 2 Bedroom Apartments

Furman Western Hills

230 Raphael AveAmes, IA 50014
  • Utilities Included
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Lake Park
1 Bedroom Apartments

Lake Park

602 Van Dorn StPolk City, IA 50226
  • Utilities Included
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Boone Park Apartments
1 to 2 Bedroom Apartments

Boone Park Apartments

1127 S Linn StBoone, IA 50036
  • Utilities Included
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Oakview Apartments
1 to 4 Bedroom Apartments

Oakview Apartments

1429 Walton DrAmes, IA 50014
  • Utilities Included
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1209 Mayfield Dr
2 to 3 Bedroom Apartments

1209 Mayfield Dr

1209 Mayfield DrAmes, IA 50014
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839-841 Dickinson Ave
3 to 4 Bedroom Apartments

839-841 Dickinson Ave

839-841 Dickinson AveAmes, IA 50014
  • 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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Showing Results 1-50, Page 1 of 2

Madrid, IA Local Guide

Cheapest Available Madrid Apartments for Rent and Nearby

 

The cheapest available apartment rental in Madrid, IA is a 4 Beds unit found at The Social West Ames® in the Fountainview neighborhood priced from $469. Fountain View Apartments in the Fountainview neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $695. Here is today’s list of the most affordable Madrid apartments for rent:

Apartment ListingModel NameBed/BathPriced From
The Social West Ames®Langley B Renovated - Station4BR, 2BA$469
Fountain View Apartments1 Bedroom1BR, 1BA$695
West TowneStudioStudio, 1BA$699
Hancock Apartments1X11BR, 1BA$780
211 S Green St2 Beds, 1 Baths2BR, 1BA$800
Wyndsor Terrace1 Bed 1 bath1BR, 1BA$815
Linden Station Apartments1 Bed Apartment 55+1BR, 1BA$825
The Summit at Heritage ApartmentsS1Studio, 1BA$847
Northpark RowAtlantic1BR, 1BA$860
Hickory Ridge Apartments2 bed, 1 bath2BR, 1BA$875

Best Value Apartments for Rent in Madrid, IA and Nearby

As of September 20, 2026 the best value apartment in the Madrid area is the $1.03 price per square foot 3515 Lincoln Way ( 4 bdrm ) Model at Walnut Ridge in the Eagle Ridge neighborhood starting from $2,000. The second greatest value Madrid apartment is the 3 Beds / 2 Baths Model at 802 Dickinson Ave in the Fountainview neighborhood starting at $1,260 with a $0.97 price per square foot. 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.
Walnut Ridge3515 Lincoln Way ( 4 bdrm )4BR, 3BA$1.03
802 Dickinson Ave3 Beds / 2 Baths3BR, 2BA$0.97
Point at AmesTelluride A3BR, 3BA$0.60
Total Property Management 3206 Lincoln Way4 bedroom4BR, 2.5BA$0.91
The Madison Apartments3x3 Furnished3BR, 3BA$0.55
Oakwood2 Bedroom2BR, 1BA$0.85
The Social West Ames®Wynwood - Station2BR, 2BA$0.55
211 S Green St2 Beds, 1 Baths2BR, 1BA$1.00
The Social ReserveGuthrie - Reserve2BR, 1BA$0.77
Fountain View Apartments1 Bedroom1BR, 1BA$0.95

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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Navigating the Rental Market: Tips for First-Time Renters

Entering the rental market? Learn these simple tips and strategies to avoid common pitfalls and make confident choices. Rent with peace of mind.

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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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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
Madrid, IA

Ranked #72

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

Pet Friendliness Lifestyle Score

2.5
Pet Friendly

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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 West Towne listed at $699.

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

The lowest price for a Cheap One Bedroom Madrid Apartment is $695 at Fountain View 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 $800 at 211 S Green St.

What is the most affordable Madrid Three Bedroom Apartment?

The best deal on a cheap Madrid Three Bedroom Apartment rental is at The Social West Ames® and starts from $499.

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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Rent According to Income: A Look at Income-Restricted Rentals

Written by: Robin Stewart

The idea of affordable housing can be subjective. Every individual is in a different place financially and vocationally. What one may easily afford could be a struggle for someone else.

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How Commercial-to-Residential Property Conversions Help the Housing Crisis

Written by: Robin Stewart

Many housing markets throughout America share a common complaint: a lack of affordable rental properties.

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Exploring Rental Options: Apartments, Townhomes, and Lofts - Oh My!

Written by: Robin Stewart

Where do you see yourself? When you think of home, sweet home, are you in a 3/2 apartment? Dreaming of a tall townhome? Maybe an industrial loft heavy on cool vibes is on your visioning board.

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Practical Tips for Renters: How to Identify a Great Rental and Avoid Red Flags

Written by: Robin Stewart

Renters want to find a great apartment, the right place for them, one that checks all the boxes of location, rental cost, amenities, safety, and more.