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Apartments for Rent in Madison, WI under $500

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  • Only 1 unit left
    Studio $500
    Base rent
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    Midvale

    609 N Midvale Blvd, Madison, WI 53705
    Apply online
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    Income restricted
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    AMPHORA APARTMENTS

    7933 TREE LN, MADISON, WI 53717
    Fitness center • In unit laundry • Air conditioner
  • 2-0-city
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Frequently asked questions

When were prices and availability in Madison, WI last updated?

Prices and availability in Madison, WI were last updated on 13 Sep 2026.

What are the best apartments in Madison, WI?
What type of rental buildings are in Madison, WI?

In Madison 54% of the housing is rented out compared to 46% of homes are owned, according to the most recent Census Bureau estimates. 26% of Madison's apartments are found in large buildings of 50 units or more, 66% are located in smaller apartment complexes with less than 50 units, and 7% are single-family rentals.

Renting apartments in Madison, WI under $500

Are you looking for a smart space where you can easily combine comfort with convenience? You will surely find the property that perfectly fits your needs with this variety of options. RentCafe offers you 2 apartments for rent in Madison, WI from 2 modern buildings, so you’ll certainly find something suitable for you. If you want to live alone or with your partner, you might want to look for a studio or browse through our selection of 1 bedroom apartments. If you need more space but you don’t want to spend more than necessary on a monthly rent, check out our 2 bedroom or 3 bedroom apartments for less than $500, and make the most out of your budget.

Finding the best rental near you

Madison, WI is an amazing place to call home, with several rentals under $500 for you to choose from. There are many options and filters you can apply to your search to make the process easier and to find your next apartment faster and more efficiently. Asking yourself ‘are there any cheap apartments near me’? With our helpful filters, you can easily find the home of your dreams that also fits within your budget. With rent prices as low as $500 in Madison, WI, you can find affordable and appealing apartments that match your requirements. Sort your search by ‘Rent’ ascending to see the cheapest ones at the top of the list. As soon as you find your perfect apartment, make sure to contact the property to check for availability or apply online directly on RentCafe.