What are the best affordable neighborhoods when renting in Madison, WI?

Madison, the lively capital of Wisconsin, combines the energy of a college town with the charm of Midwestern living. The city’s lakes, bike paths, and thriving local food scene make it a great place to look for your happy place.

But like many growing cities, the cost of living can be a factor. Overall, living in Madison costs about 1% more than the Wisconsin average and roughly 5% more than the U.S. average.

For renters, that difference can make apartment hunting feel like a balancing act. As of October 2025, Madison’s average rent is slightly above the national average, but that doesn’t mean affordable options are out of reach. There are still plenty of budget-friendly neighborhoods where renters can enjoy the city’s best amenities without overspending.

To make your search easier, we’ve highlighted five of the best affordable neighborhoods for renters in Madison, WI:

• Westmorland
• Sherman
• Leopold
• Oakwood Village
• Hill Farms-University

Each offers a mix of reasonable rent prices, local conveniences, and a strong sense of community, proving that affordable living in Madison is still within reach.

Westmorland

Average rent as of October 2025: $1,343

Westmorland is one of Madison’s most affordable neighborhoods, offering a comfortable suburban feel with quick access to downtown. Renters here enjoy cozy apartments and small rental homes with well-kept yards and quiet surroundings.

The neighborhood is also close to parks like Glenway Golf Park, and you’ll have easy access to Monroe Street restaurants. Westmorland’s community-oriented vibe and reasonable rents make it one of the best affordable neighborhoods if you’re looking for a balance between cost and comfort.

Sherman

Average rent as of October 2025: $1,376

Sherman is another solid choice among Madison’s affordable neighborhoods. Located on the city’s north side, this area is known for its accessible housing options and quick downtown commute. Renters will find a mix of older apartments and newer buildings, often surrounded by local shops and cafes.

Sherman also sits near Warner Park, a favorite local spot for recreation and community events. The affordable rent and convenient location make Sherman a great pick for renters seeking budget-friendly neighborhoods with a friendly, residential atmosphere.

Leopold

Average rent as of October 2025: $1,400

Leopold offers an appealing mix of affordability and accessibility. It’s close to the Beltline Highway, giving renters easy access to the rest of the city. Many apartment complexes here feature modern amenities like fitness centers, outdoor spaces, and parking.

This neighborhood also benefits from nearby shopping centers and schools, making it a practical choice for individuals and families alike. With average rents holding steady, this neighborhood stands out among Madison’s best affordable neighborhoods for renters.

Oakwood Village

Average rent as of October 2025: $1,589

While slightly higher in price, Oakwood Village remains one of the more affordable neighborhoods for renters who want a quiet, community-focused environment. It’s known for its peaceful setting, clean apartment complexes, and easy access to nature trails and the University of Wisconsin Arboretum.

The area is also an easy drive to West Towne Mall and nearby dining spots, which adds everyday convenience. For those looking for budget-friendly neighborhoods that blend affordability with a touch of tranquility, Oakwood Village is a solid choice.

Hill Farms-University

Average rent as of October 2025: $1,747

Hill Farms-University is one of Madison’s most desirable yet still relatively affordable neighborhoods, considering its central location. It’s close to the University of Wisconsin campus, Hilldale Shopping Center, and major employers.

Apartments here often come with modern layouts and access to public transportation. Because many of the buildings are refurbished and the area is in high demand, you can expect higher prices. But for many renters, the trade-off is worth it. That’s why Hill Farms-University continues to rank as one of the best affordable neighborhoods for renters who want to live near the action without breaking the bank.

Madison offers renters a variety of affordable neighborhoods that balance price, quality, and community. Whether you’re drawn to the peaceful streets of Westmorland, the accessibility of Sherman, or the central location of Hill Farms-University, you can find apartments that fit your lifestyle and budget.

If you’re ready to explore the best affordable neighborhoods for renting in Madison, WI, start your search today! With the right area, you can enjoy all that Madison has to offer without stretching your budget too far.