Cheap Apartments for Rent in Madrid, IA from $300 (6 Rentals)

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

Explore the Best Cheap Apartments in Madrid for Renters Looking for a Great Deal on Lower Cost Rent for the Area.

close
View Me
Furman Western Hills
from $635Studio to 2 Bedroom Apartments

Furman Western Hills

230 Raphael AveAmes, IA 50014
View Details

Madrid, IA Local Guide

Cheapest Available Madrid Apartments for Rent and Nearby

 

The cheapest available apartment rental in Madrid, IA is a Studio unit found at College Creek Apartments in the Eagle Ridge neighborhood priced from $670. Hickory Ridge Apartments in the Eagle Ridge neighborhood has the second lowest priced unit, which is a Studio apartment currently listed from $699. Here is today’s list of the most affordable Madrid apartments for rent:

Apartment ListingModel NameBed/BathPriced From
College Creek ApartmentsStudio, 1 bathStudio,1BA$670
Hickory Ridge Apartments0 bed, 1 bathStudio,1BA$699
Oakwood1 bedroom1BR,1BA$825

Best Value Apartments for Rent in Madrid, IA and Nearby

As of January 03, 2025 the best value apartment in the Madrid area is the $1.20 price per square foot A Model at James Point Luxury Townhomes in the in the Kennybrook neighborhood starting from $1,895. The second greatest value Madrid apartment is the 3515 Lincoln Way ( 3 bdrm ) Model at Walnut Ridge starting at $550 with a $0.37 price per square foot in the Eagle Ridge neighborhood. Here is today’s list of the best values for Madrid apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
James Point Luxury TownhomesA3BR,2.5BA$1.20
Walnut Ridge3515 Lincoln Way ( 3 bdrm )3BR,3BA$0.37
Wessex Apartments2 Bedroom / 2 Bathroom Townhome - 1,116 sq ft2BR,2BA$1.32
The Madison3x3 Furnished3BR,3BA$0.51
Fountainview2 Bedroom 1 Bath2BR,1BA$1.15
Point at AmesFrisco A2BR,2BA$1.05
Fieldstream Apartment HomesOne Bedroom1BR,1BA$1.10
Oakwood1 bedroom1BR,1BA$1.10
Boone Park Apartments2BR Upper2BR,1BA$1.16
Park Place Apartments2BR Upper2BR,1BA$1.19

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

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

Explore Madrid, IA Rentals by Map

View MapMadrid, IA Apartments MapView MapMadrid, IA Rental Homes Map

Getting Around Madrid, IA

Walk Score®

37 / 100

Car-Dependent

Most errands require a car

Bike Score®

47 / 100

Somewhat Bikeable

Minimal bike infrastructure

Frequently Asked Questions about Cheap Madrid Apartments

What is the Cheapest Studio apartment in Madrid?

Currently the most affordable Cheap Studio Apartment in Madrid is at College Creek Apartments listed at $670.

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

The lowest price for a Cheap One Bedroom Madrid Apartment is $725 at College Creek 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 $835 at Boone Park Apartments.

What is the most affordable Madrid Three Bedroom Apartment?

The best deal on a cheap Madrid Three Bedroom Apartment rental is at Windsor Pointe and starts from $1,166.

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 What to Know About Fees and Fines When Renting article

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.

decorative image for Navigating the World of Low-Income Housing: A Comprehensive Guide article

Navigating the World of Low-Income Housing: A Comprehensive Guide

Written by: Kevin Ready

Are you having difficulty keeping up with bills or paying the rent? If so, you are not alone. Many families struggle to keep up with rents that have increased up to 40% in the past decade.

decorative image for Signing Your Apartment Lease: The Basics article

Signing Your Apartment Lease: The Basics

Written by: Trey Huguley

When you're about to sign a lease for the first time, it can feel a bit overwhelming. You don’t want to miss any important details hidden in the fine print.

decorative image for Real Estate Term Glossary: Your Guide to The A to Zs of Renting  article

Real Estate Term Glossary: Your Guide to The A to Zs of Renting

Written by: Kevin Ready

Navigating the world of real estate can reveal an abundance of terminology and phrasing around the topics of renting and buying that for some may seem like a brand-new language.