505 1/2 11th St
BooneIA50036
Cheap Homes for Rent in Madrid, IA from $600 (13 Rentals)
Search the lowest-cost Homes available for rent right now in Madrid.
238 Village Dr
AmesIA50014
211 S Green St
MadridIA50156
211 S Green St
MadridIA50156
320 S Franklin Ave
AmesIA50014
211 S Green St
MadridIA50156
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.
307 S Maple Ave
AmesIA50010
925 Garfield Ave
AmesIA50014
4307 Toronto St
AmesIA50014
4511 Twain Cir
AmesIA50014
435 Hawthorne Ave
AmesIA50014
4510 Twain Cir
AmesIA50014
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.
508 Hayward Ave
AmesIA50014
Showing Results 1-13, Page 1 of 1
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 | $1,091 | $800 | $2,100 |
| Madrid 3 Bedroom Homes for Rent | $1,997 | $1,100 | $2,900 |
| Madrid 4 Bedroom Homes for Rent | $2,084 | $1,695 | $2,795 |
| Madrid 5 Bedroom Homes for Rent | $3,000 | $3,000 | $3,000 |
Browse Top Homes for Rent in Madrid
Explore Madrid
Madrid, IA Local Guide
- Nearby Cities
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Cheapest Available Madrid Apartments for Rent and Nearby
The cheapest available apartment rental in Madrid, IA is a 1 Bed unit found at Western Hills Apartments in the Fountainview neighborhood priced from $745. Granger Lofts in the Royal Estates neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $780. Here is today’s list of the most affordable Madrid apartments for rent:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| Western Hills Apartments | 1 Bed/1 Bath Apartment | 1BR,1BA | $745 |
| Granger Lofts | 1BR Upper | 1BR,1BA | $780 |
| The Social West Ames® | Avondale - Station | 1BR,1BA | $799 |
| Hickory Ridge Apartments | 0 bed, 1 bath | Studio,1BA | $799 |
| Windsor Pointe | Hickory 60% | 2BR,1BA | $825 |
Best Value Apartments for Rent in Madrid, IA and Nearby
As of April 26, 2026 the best value apartment in the Madrid area is the $1.02 price per square foot 3515 Lincoln Way ( 4 bdrm ) Model at Walnut Ridge in the in the Eagle Ridge neighborhood starting from $2,300. The second greatest value Madrid apartment is the 4 Bedroom/2 Bathroom Model at Tripp Street Apartments starting at $1,400 with a $1.12 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 | $1.02 |
| Tripp Street Apartments | 4 Bedroom/2 Bathroom | 4BR,2BA | $1.12 |
| The Madison | 3x3 Furnished | 3BR,3BA | $0.55 |
| The Social Reserve | Jasper Renovated - Reserve | 2BR,2BA | $0.63 |
| Fountainview | 2 Bed/1 Bath Apartment | 2BR,1BA | $1.15 |
| Furman Western Hills | 2BR 2BA | 2BR,2BA | $1.02 |
| 1209 Mayfield Dr | 2 BR/ 2 BA | 2BR,2BA | $1.13 |
| Western Hills Apartments | 2 Bed/2 Bath Apartment | 2BR,2BA | $1.05 |
| Point at Ames | Frisco B | 2BR,2BA | $1.06 |
| SUNDANCE BOONE APARTMENTS | 2 Bedroom 2 Bathroom | 2BR,2BA | $1.08 |
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.
Read Article
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 ArticleThe 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.
Read ArticleCash 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.
Read ArticleQuick 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 LifestyleMadrid, IA
Ranked #33
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 (153)
6 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 61 Apartments for Rent in Madrid, IA with pricing that ranges from $399 to $2,395. There are also 48 Single Family Homes for rent, Condos, and Townhome rentals currently available in Madrid ranging from $625 to $3,000.
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 $625 to $3,000 with an average monthly rent of $1,797.
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 $489 to $2,395, while Three Bedroom Homes, Condos, and Townhomes for rent range from $1,100 to $2,900. Four Bedroom Single-Family rentals are also available starting from $1,695 and Four Bedroom Apartments start at $399.
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
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.
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.
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.
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.