Cheap Apartments for Rent in Madison, IN from $700 (35 Rentals)

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Riverside Tower Lofts
1 to 2 Bedroom Apartments

Riverside Tower Lofts

1001 W 2nd StMadison, IN 47250
Senior Living
  • Utilities Included
property at 102 Gaslight Dr

102 Gaslight Dr

VersaillesIN47042
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3 N Madison Ave
1 Bedroom Apartments

3 N Madison Ave

3 N Madison AveHanover, IN 47243
property at 226 Yager Ave

226 Yager Ave

La GrangeKY40031
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Madison, IN Local Guide

Cheapest Neighborhoods for Apartments in Madison, IN

Pricing Updated: 03/21/2025

Current apartment rentals in the Madison, IN area range in price from to with an overall median price of . Here is today’s list neighborhoods with the lowest median pricing for Madison Apartments for rent:

NeighborhoodMedian PriceMin PriceAvailable Units

Cheapest Available Madison Apartments for Rent and Nearby

 

The cheapest available apartment rental in Madison, IN is a 1 Bed unit found at Stonebrook of Scottsburg priced from $750. Water's Edge has the second lowest priced unit, which is a 1 Bed apartment currently listed from $771. Here is today’s list of the most affordable Madison apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Stonebrook of ScottsburgA11BR,1BA$750
Water's EdgeOne Bedroom Reservation List1BR,1BA$771
281 E Main StOne Bed, One Bath1BR,1BA$775
Meadow Creek Townhomes2 Bed2BR,1BA$800
Chamberlain OaksOne Bedroom1BR,1BA$810
Deer Park ApartmentsStudio Gold1BR,1BA$815
Tracks at Seymour1 Bedroom, 1 Bath, 743 Sq Ft1BR,1BA$850
Springhurst East Apartments1 Bedroom Gold1BR,1BA$930
Oldham Oaks2 Bedroom2BR,2BA$1,025
Bishop Place Apartments1 Bed, 1 bath1BR,1BA$1,050

Best Value Apartments for Rent in Madison, IN and Nearby

As of March 21, 2025 the best value apartment in the Madison area is the $0.85 price per square foot 8119 Montero Dr Model at 8119 Montero Dr in the in the Harrods Creek neighborhood starting from $2,895. The second greatest value Madison apartment is the 3 Bedroom Model at Oldham Oaks starting at $1,400 with a $1.04 price per square foot . Here is today’s list of the best values for Madison apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
8119 Montero Dr8119 Montero Dr4BR,3BA$0.85
Oldham Oaks3 Bedroom3BR,2BA$1.04
Maple Brook ApartmentsB - Birchwood2BR,2BA$1.08
Rivers Edge Residences2 Beds, 2 baths2BR,2BA$1.10
Parkside Trace Apartments2 BEDROOM 2 BATHROOM NEW CONSTRUCTION2BR,2BA$1.14
Lakeview Apartments2 BEDROOM 2 BATHROOM B2BR,2BA$1.06
281 E Main StOne Bed, One Bath1BR,1BA$0.97
Meadow Creek Townhomes2 Bed2BR,1BA$1.07
Chamberlain OaksOne Bedroom1BR,1BA$1.15
Water's EdgeOne Bedroom Reservation List1BR,1BA$1.10

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

Explore Madison, IN Rentals by Map

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See the most popular apartments and homes in Madison, IN

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Getting Around Madison, IN

Walk Score®

37 / 100

Car-Dependent

Most errands require a car

Bike Score®

34 / 100

Somewhat Bikeable

Minimal bike infrastructure

What Are Walk Score®, Transit Score®, and Bike Score® Ratings?

  • Walk Score® measures the walkability of any address.
  • Transit Score® measures access to public transit.
  • Bike Score® measures the bikeability of any address.

Frequently Asked Questions about Cheap Madison Apartments

What is the Cheapest Studio apartment in Madison?

Currently the most affordable Cheap Studio Apartment in Madison is at Lyric at Norton Commons listed at $1,172.

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

The lowest price for a Cheap One Bedroom Madison Apartment is $750 at Stonebrook of Scottsburg.

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

Today's best deal for a Cheap Two Bedroom Apartment in Madison is starting from $800 at Meadow Creek Townhomes.

What is the most affordable Madison Three Bedroom Apartment?

The best deal on a cheap Madison Three Bedroom Apartment rental is at Meadow Creek Townhomes and starts from $900.

Expert Rental Resources

Helpful Apartment Articles, How-To's and Tips

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.

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Understanding Amenity Fees: Know Where You Might Be Able to Save Money

Written by: Amber Kanuckel

With the rising costs of housing, a lot of renters are asking this question: Is it possible to opt out of various amenities that your rental property offers so that you can avoid paying the fees.

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What to Know About Fees and Fines When Renting

Written by: Trey Huguley

When it comes to renting a new apartment or home there can be a number of fees that you will want to keep in mind going into the process.

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Battling the Butts: Your Guide to the Reality of Smoke-Free Renting

Written by: Andrea Lee Negroni, JD

While many apartment buildings are “no smoking” properties, it’s hard to know exactly how many. In 2017, the National Apartment Association reported more than half of rental properties had smoke free policies.

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How Your Move-In Inspection Can Protect Your Security Deposit

Written by: Christine Leonard, Esq.

If you’re anything like most people, housing costs represent a huge chunk of your monthly budget. On top of that, moving can be both a stressful and expensive affair.