Apartments for Rent in Madison, SD

Prices and availability in Madison, SD were last updated on 2 Oct 2026.

The best apartments in Madison, SD are: Parkview Apartments and Evergreen Townhomes.

In Madison, 40% of the residents are renting compared to 60% owning a home, according to data from the U.S. Census Bureau. Large-scale apartment buildings with more than 50 units represent 5% of Madison's rentals, 51% are small-scale complexes with under 50 units, and 41% are single-family rentals.

The age and size of multifamily buildings are among the most visible characteristics of the rental market in a city. In this case, the apartment buildings in Madison are about 57 years old, on average. Of these, none have been built since 2000, representing the newer options on the market and typically offering more amenities. Rental buildings in the city have an average height of 12 stories. About none of the rental communities here are low-rise, garden-style communities, none are mid-rises, and all are high-rise buildings. These are true especially for large-scale multifamily buildings with over 50 apartments.

Rental apartments in Madison come in a range of sizes and floorplans. Studio apartments represent 0% of units for rent, ideal for singles, renters on a budget and people who value central locations more than space. Rentals with 1-bedroom floorplans make up 97% of the total apartments in the city, while 2-bedroom floorplans represent around 3% of all rentals in Madison. The rest are larger floorplans with 3 bedrooms or more, typically preferred by families, larger households or roommates sharing space.