Cheap Apartments for Rent in the Downtown Madison Neighborhood of Madison, WI from $400 (192 Rentals)

How Many Bedrooms?Done
Select your price rangeDone
Lifestyle Matching SearchDone
Learn more about Lifestyle Search
By AmenitiesDone
By Community TypeDone
Features and AvailabilityDone
Done

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

Showing Results 1-50, Page 1 of 4

Downtown Madison, Madison, WI Local Guide

Cheapest Available Downtown Madison Apartments for Rent

 

The cheapest available apartment rental in the Downtown Madison area of Madison, WI is a 3 Beds unit found at Hub on Campus Madison priced from $730. The Shield has the second lowest priced unit, which is a 1 Bed apartment currently listed from $791. Here are the most affordable Downtown Madison apartments for rent in Madison, WI:

Apartment ListingModel NameBed/BathPriced From
Hub on Campus Madison3X5D33BR,3BA$730
The ShieldA11BR,1BA$791
Hellenbrand ApartmentsStudio--111 S BassettStudio,1BA$850
Gargano Propertiesone1BR,1BA$1,000
Greenspire Wilson Apartments0BR/1.0BAStudio,1BA$1,025
Courtyard Apartments, LLC.0BR/1.0BAStudio,1BA$1,030
The Badger Den on GilmanVilasStudio,1BA$1,069
Williamson PlaceSTUDIOStudio,1BA$1,075
Capital Park ApartmentsEfficiencyStudio,1BA$1,115

Best Value Apartments for Rent in Downtown Madison, WI

As of March 29, 2025 the best value apartment in the Downtown Madison area is the $1.06 price per square foot 855 E Gorham St Model at 855 E Gorham St, Unit 855 in the in the The Isthmus neighborhood starting from $2,550. The second greatest value Downtown Madison apartment is the 3 BED 2 BA Model at The Heights starting at $2,195 with a $1.61 price per square foot in the Downtown Madison neighborhood. Here is today’s list of the best values for Downtown Madison apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
855 E Gorham St, Unit 855855 E Gorham St4BR,2BA$1.06
The Heights3 BED 2 BA3BR,2BA$1.61
Pres House ApartmentsBedroom (Shared)4BR,2BA$1.33
Park Cedar ApartmentsTwo Bedroom, One Bath2BR,1BA$1.47
8Twenty Park2 BR 2 BA Income Restricted2BR,2BA$1.49
Valor on WashingtonTwo Bedroom2BR,1BA$1.25
Nichols Station ApartmentsOne Bedrooms1BR,1BA$1.70
616 S Mills St, Unit 616616 S Mills St2BR,1BA$1.68
Gargano Propertiesone1BR,1BA$1.33
636 State St, Unit 205636 State St1BR,1BA$1.57

Quick 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.

decorative image of people with a giant lease agreement

Pet Friendly Lifestyle
Downtown Madison, Madison, WI

Ranked #6

Among neighborhoods in Madison, WI for Apartment listings with Pet Friendly Amenities

Pet Friendliness Lifestyle Score

4.0
Pet Friendly

decorative image of woman handing cat to small boy

Lifestyle Ratings

ApartmentHomeLiving brings you our detailed rental search system called 'Lifestyle ratings', composed of rentals in cities across the United States, including Madison. Lifestyle Ratings show you the best fit for your needs and interests. This takes in many factors including filtering automatically for convenient access to the outdoors, luxury housing options, kid and pet-friendly communities, availability of transit options, and how walkable or bikeable each community and area is. These search options are in the site filters at the top of this page.

Frequently Asked Questions about Cheap Downtown Madison Apartments

What is a cheap apartment in Downtown Madison?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Downtown Madison is under $1,115.

What is the price of a cheap apartment in Downtown Madison?

The cheapest apartment in Downtown Madison is The Shield which is listed at $791, while the average apartment in Downtown Madison costs $8,220.

What types of apartments are the cheapest in Downtown Madison?

Student, low-income, and by-the-bed apartments are typically the cheapest rentals in most cities, though they require qualifying criteria to rent. There are 163 regular apartments in Downtown Madison that we think qualify as ‘cheap apartments’ that do not have special requirements to apply to rent.

How do the prices of cheap apartments compare to the average apartment in Downtown Madison?

Cheap apartments in Downtown Madison have an average cost of $870 which is $7,350 cheaper than the average rent for all rentals in Downtown Madison.

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

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.

decorative image for Renting Smart: Lease Basics Every Renter Needs article

Renting Smart: Lease Basics Every Renter Needs

Written by: Christine Leonard, Esq.

Often, in the excitement of finding a new place to live, there’s a rush to make it happen, and - too often - a new tenant signs a lease without reading it carefully.

decorative image for Battling the Butts: Your Guide to the Reality of Smoke-Free Renting article

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.

decorative image for How Your Move-In Inspection Can Protect Your Security Deposit article

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.