Cheap Apartments for Rent in Madrid, IA from $400 (10 Rentals)

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

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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. Wyndsor Terrace in the Eagle Ridge neighborhood has the second lowest priced unit, which is a Studio apartment currently listed from $740. 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
Wyndsor TerraceStudioStudio,1BA$740
Western Hills Apartments1 Bed, 1 bath1BR,1BA$745

Best Value Apartments for Rent in Madrid, IA and Nearby

As of April 13, 2025 the best value apartment in the Madrid area is the $1.18 price per square foot 3BR/2.0BA Model at Village at Rock Creek in the in the Georgetown neighborhood starting from $1,695. The second greatest value Madrid apartment is the Two Bedroom Model at Fieldstream Apartment Homes starting at $1,273 with a $1.15 price per square foot in the Georgetown 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.
Village at Rock Creek3BR/2.0BA3BR,2.5BA$1.18
Fieldstream Apartment HomesTwo Bedroom2BR,2BA$1.15
The Madison3x3 Furnished3BR,3BA$0.53
The Social West Ames®Cambridge A - Station3BR,2BA$0.54
Fountainview2 Bedroom 1 Bath2BR,1BA$1.15
Western Hills Apartments2 Beds, 2 baths2BR,2BA$1.05
839-841 Dickinson Ave3 BR/ 2 BA3BR,2BA$1.17
SUNDANCE BOONE APARTMENTS2 Bedroom 2 Bathroom2BR,2BA$1.08
Point at AmesFrisco A2BR,2BA$1.05
Oakwood1 bedroom1BR,1BA$1.20

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Madrid, IA

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Getting Around Madrid, IA

Walk Score®

37 / 100

Car-Dependent

Most errands require a car

Bike Score®

47 / 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 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 $745 at Western Hills 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 $845 at College Creek Apartments.

What is the most affordable Madrid Three Bedroom Apartment?

The best deal on a cheap Madrid Three Bedroom Apartment rental is at 839-841 Dickinson Ave and starts from $1,050.

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

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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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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.

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

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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

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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.