Apartments for Rent in Madison, SD

Prices and availability in Madison, SD were last updated on 31 May 2026.

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

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 average age of rental buildings in Madison is 57 years old, with none being newer apartment buildings completed since 2000. The average height of apartment buildings in the city is 12 stories, of which none are garden-style apartment communities, none are mid-sized buildings, and all are high-rises. These characteristics describe large-scale apartment communities of 50 apartments or more.

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.