
Cheap Apartments for Rent in Madrid, NE from $500 (23 Rentals)
Search the lowest-cost Apartments available for rent right now in Madrid.


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Westside

North Park Apartments

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1103 5th St, Unit 6

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631 Illinois St, Unit 1

The Preston

Crestview
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Lakeside

Oak View Apartments

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Heartland Flats Alliance

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Pacific Place Apartments

South Platte Terrace Apartments

Kelley Creek

Wheatridge Apartments
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Pine Village

407 N Front St

The Cooper Apartment Homes

Vintage Rows

Loomis Apartment Homes

Bel Apartments

Water Tower Residences
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301 S 3rd Ave

205 Colorado Ave
Madrid, NE Local Guide

How much does it cost to rent an apartment in Madrid?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Madrid Studio Apartments | $849 | $849 | $849 |
| Madrid 1 Bedroom Apartments | $1,096 | $500 | $1,300 |
| Madrid 2 Bedroom Apartments | $1,261 | $575 | $1,699 |
| Madrid 3 Bedroom Apartments | $1,616 | $970 | $1,750 |
Browse Top Apartments in Madrid
See all Apartments in MadridExplore Madrid
Madrid, NE Local Guide
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Cheapest Available Madrid Apartments for Rent and Nearby
 The cheapest available apartment rental in Madrid, NE is a 1 Bed unit found at Great Plains Apartments priced from $500. Crestview has the second lowest priced unit, which is a 1 Bed apartment currently listed from $700. Here is today’s list of the most affordable Madrid apartments for rent:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| Great Plains Apartments | 1 Bed 1 Bath | 1BR,1BA | $500 |
| Crestview | 1 Bed 1 Bath | 1BR,1BA | $700 |
| Oak View Apartments | 2BR/1.0BA | 2BR,1BA | $750 |
| Westside | 2 Bed 1 Bath | 2BR,1BA | $825 |
| Kelley Creek | 2 Bed 1.5 Bath | 2BR,1BA | $900 |
Best Value Apartments for Rent in Madrid, NE and Nearby
As of February 28, 2026 the best value apartment in the Madrid area is the $1.06 price per square foot Willow Model at Heartland Flats Alliance in the starting from $1,149. The second greatest value Madrid apartment is the Unit 2.1C Model at Sandridge Apartments starting at $980 with a $1.03 price per square foot . 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. |
|---|---|---|---|
| Heartland Flats Alliance | Willow | 2BR,2BA | $1.06 |
| Sandridge Apartments | Unit 2.1C | 2BR,1BA | $1.03 |
| 6th Dimension Apartments | 2 Bedroom | 2BR,1BA | $1.10 |
| Kelley Creek | 2 Bed 1.5 Bath | 2BR,1.5BA | $1.02 |
| Westside | 2 Bed 1 Bath | 2BR,1BA | $1.00 |
| Oak View Apartments | 2BR/1.0BA | 2BR,1BA | $1.00 |
| 631 Illinois St, Unit 1 | 631 Illinois St | 1BR,1BA | $0.93 |
| Crestview | 1 Bed 1 Bath | 1BR,1BA | $1.00 |
| Great Plains Apartments | 1 Bed 1 Bath | 1BR,1BA | $0.77 |
| 1103 5th St, Unit 6 | 1103 5th St | 1BR,1BA | $1.04 |
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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
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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.
Remember the 3 Rules of Real Estate:Location, Location, Location!
Explore Madrid, NE Rentals by Map
See the most popular apartments and homes in Madrid, NE
Frequently Asked Questions about Cheap Madrid Apartments
How much is rent for a Cheap One Bedroom Madrid Apartment?
The lowest price for a Cheap One Bedroom Madrid Apartment is $500 at Great Plains 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 $575 at Great Plains Apartments.
What is the most affordable Madrid Three Bedroom Apartment?
The best deal on a cheap Madrid Three Bedroom Apartment rental is at Westside and starts from $970.
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

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.

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.

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.