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

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

property at 1365 Osage St

1365 Osage St

MadisonIN47250
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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

Smart Renter's Guide: Calculating Affordable Rent & Housing Costs

Wondering how to determine your rental budget? This comprehensive guide covers everything from the 30% rule to hidden fees and effective budgeting strategies.

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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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Know Your Rights - How Discrimination Laws Impact Landlords and Tenants

Read our practical guide to landlord and tenant rights. Understand protected classes, reasonable accommodations, and legal exceptions to prevent housing discrimination.

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property at 205 Long St

205 Long St

North VernonIN47265
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3 N Madison Ave
1 Bedroom Apartments

3 N Madison Ave

3 N Madison AveHanover, IN 47243
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Madison, IN Local Guide

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
Tracks at Seymour1 Bedroom, 1 Bath, 743 Sq Ft1BR,1BA$850
The Louis Apartment FlatsAshland1BR,1BA$1,043
Oldham Oaks2 Bedroom2BR,2BA$1,050
Bishop Place Apartments1 Bed, 1 bath1BR,1BA$1,050
Maple Brook ApartmentsA - Aubern1BR,1BA$1,053

Best Value Apartments for Rent in Madison, IN and Nearby

As of May 17, 2025 the best value apartment in the Madison area is the $1.06 price per square foot 3 Bedroom Model at Oldham Oaks in the starting from $1,425. The second greatest value Madison apartment is the 2 Beds, 2 baths Model at Rivers Edge Residences starting at $1,250 with a $1.10 price per square foot in the Harrods Creek neighborhood. 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.
Oldham Oaks3 Bedroom3BR,2BA$1.06
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$1.12
Renaissance Park ApartmentsNew Construction Two Bedroom Two Bathroom2BR,2BA$1.18
281 E Main StOne Bed, One Bath1BR,1BA$0.97
Stonebrook of ScottsburgB12BR,1BA$1.23
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:
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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 The Flats at Springhurst Apartments of Lou... listed at $1,249.

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.

decorative image for Know Your Budget: Calculating What You Can Realistically Afford When Renting article

Know Your Budget: Calculating What You Can Realistically Afford When Renting

Written by: Lauren Harrington

Renting an apartment or house isn’t just about looking through online ads, choosing a few apartments or homes you want to tour, filling out an application, and putting down a deposit. Those things are all necessary and important.

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The Freedom of Short-Term Leases: Exploring the Advantages for Renters

Written by: Bobbi Jackson

If you’re looking to relocate right now, a popular solution that may best fit your current rental needs is a short-term lease.

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Navigating the Rental Market: Tips for First-Time Renters

Written by: Sandy Baker

Making the decision to rent is exciting and terrifying at the same time. For many people, there are a lot of unknowns.

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Rise of Digital Nomads: Remote Work Tips for Apartment Renters

Written by: Brandie Parton

As a digital nomad, you no longer call a set address or office building your home for eight hours of the day or more.