333 Rockwell Ave
AmesIA50014
Cheap Homes for Rent near Madrid, IA from $585 (7 Rentals)
Search the lowest-cost Homes available for rent right now in Madrid.
207 Todd Cir
AmesIA50014
101 NW 8th St
GrimesIA50111
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.
4344 Maricopa Dr
AmesIA50014
4342 Maricopa Dr
AmesIA50014
3711 Marigold Dr
AmesIA50014
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.
4126 Harris St
AmesIA50014
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Madrid, IA Local Guide
High Trestle Trail Bridge by Phil Roeder is licensed under CC BY 2.0
How much does it cost to rent a home in Madrid?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Madrid 2 Bedroom Homes for Rent | $1,345 | $795 | $1,895 |
| Madrid 3 Bedroom Homes for Rent | $1,795 | $1,150 | $2,500 |
| Madrid 4 Bedroom Homes for Rent | $2,010 | $1,295 | $2,695 |
| Madrid 6 Bedroom Homes for Rent | $2,400 | $2,400 | $2,400 |
Browse Top Homes for Rent in Madrid
Explore Madrid
Madrid, IA Local Guide
- Madrid Neighborhoods
- Nearby Cities
- ZIP codes
- Local Counties
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 Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| The Social West Ames® | Langley B Renovated - Station | 4BR,2BA | $469 |
| Fountain View Apartments | 1 Bedroom | 1BR,1BA | $695 |
| West Towne | Studio | Studio,1BA | $699 |
Best Value Apartments for Rent in Madrid, IA and Nearby
As of September 09, 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 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 starting at $1,260 with a $0.97 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 Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| Walnut Ridge | 3515 Lincoln Way ( 4 bdrm ) | 4BR,3BA | $1.03 |
| 802 Dickinson Ave | 3 Beds / 2 Baths | 3BR,2BA | $0.97 |
| Point at Ames | Telluride A | 3BR,3BA | $0.69 |
| Total Property Management 3206 Lincoln Way | 4 bedroom | 4BR,2.5BA | $0.91 |
| The Madison Apartments | 3x3 Furnished | 3BR,3BA | $0.55 |
| Oakwood | 2 Bedroom | 2BR,1BA | $0.85 |
| Mortensen Heights | 2B | 2BR,2BA | $0.71 |
| 211 S Green St | 2 Beds, 1 Baths | 2BR,1BA | $1.00 |
| The Social Reserve | Guthrie - Reserve | 2BR,1BA | $0.70 |
| Fountain View Apartments | 1 Bedroom | 1BR,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.
Read Article
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.
Read ArticleReal 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.
Read Article
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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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Pet Friendly LifestyleMadrid, IA
Ranked #125
Among cities in Iowa for Apartment listings with Pet Friendly Amenities.
Pet Friendliness Lifestyle Score
2.5Pet Friendly
Best Local Schools in Madrid, IA
Madrid Junior High School
Madrid Community School District
Public School - Grades 6-8 (154)
7 out of 10
School data provided by Great Schools
Remember the 3 Rules of Real Estate:Location, Location, Location!
Explore Madrid, IA Rentals by Map
See the most popular apartments and homes in Madrid, IA
Frequently Asked Questions about Madrid
What type of rentals are currently available in Madrid?
There are currently 62 Apartments for Rent in Madrid, IA with pricing that ranges from $350 to $3,118. There are also 38 Single Family Homes for rent, Condos, and Townhome rentals currently available in Madrid ranging from $585 to $2,695.
What is the current price range for Rental Homes in Madrid?
Today's rental pricing for Homes for Rent, Condos and Townhomes in Madrid ranges from $585 to $2,695 with an average monthly rent of $1,830.
How much are larger Three and Four Bedroom Rentals in Madrid?
For those who are looking for larger living arrangements, Three Bedroom Apartments in Madrid range from $450 to $3,118, while Three Bedroom Homes, Condos, and Townhomes for rent range from $1,150 to $2,500. Four Bedroom Single-Family rentals are also available starting from $1,295 and Four Bedroom Apartments start at $350.
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
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.
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.
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.
First Apartment Regrets: Real Renters Share What They'd Do Differently
Written by: Robin Stewart
Hindsight is 20/20. Live and Learn. With age comes wisdom. We’re familiar with all those expressions, and all of them apply to lessons first-time renters learn.