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Apartments Under $500 in Madison, WI

1 - 8 of 8 Results
1
$ Ask - 3,694
The Medallion
525 E Main St Madison, WI
2 BR | Available Now
Contact
Furnished
Dog Friendly
Air Conditioning
Surface Parking
Storage
4
$500
PER
ROOM
Carroll House
423 N Carroll St Madison, WI
7 BR | Available Now
Contact
Dog Friendly
Cat Friendly
Student
Capitol
8
$408
PER
ROOM
International Cooperative House
140 W Gilman St Madison, WI
1 BR | Available Now
Contact
Dog Friendly
Cat Friendly
Storage
Capitol
1
$150
12 Langdon St
Madison, WI
Studio | Available Now
Contact
Capitol
2
$125
519 W Mifflin St
Madison, WI
Studio | Available Now
Contact
Surface Parking
Storage
Disability Access
Capitol
16
$320 - 495
407 Wisconsin Avenue
Madison, WI
Studio | Available Now
Contact
Capitol
$427
PER
ROOM
122 N Bassett St
Madison, WI
1 BR | Available Now
Contact
Dog Friendly
Cat Friendly
Storage
Capitol
$459
PER
ROOM
20 N Franklin St
Madison, WI
1 BR | Available Now
Contact
Capitol
1 - 8 of 8 Results
  1. Home
  2. Madison
  3. Apartments Under $500
Frequently Asked Questions

How many apartments under $500 are available in Madison, WI on Rentable.co?

There are 8 apartments under $500 in Madison currently available for rent on Rentable.co.

How many studio apartments under $500 are available in Madison?

Rentable.co has 127 studio apartments under $500 available for rent in Madison.

How many one-bedroom apartments under $500 are available in Madison?

Rentable.co has 332 one-bedroom apartments under $500 available for rent in Madison.

How many two-bedroom apartments under $500 are available in Madison?

Rentable.co has 540 two-bedroom apartments under $500 available for rent in Madison.

Can I afford a apartment under $500 in Madison, WI?

To comfortably afford a apartment under $500 in Madison based on average rent prices, a household would need an annual income of $18,000.

Which neighborhoods have the most apartments under $500 for rent in Madison, WI?

  1. Capitol
  2. North Star
  3. Old Market Place
  4. UW Madison Campus
  5. Madison West

Apartments Under $500 in Madison, WI: June Rental Information

Welcome to the June 2026 Madison Apartment Report. In this assessment of the local rental market, Rentable data scientists and rental experts break down the June 2026 key findings and figures for the Madison rental landscape.

Our experts analyze the inventory trends for apartments under $500 — overall market rent-distribution, availability by bedroom count, and month-over-month comparisons — in Madison and surrounding areas. This summary also provides insight into available features and amenities, as well as location options for apartments under $500 in Madison.

Please note that this report focuses specifically on apartments priced under $500, providing prospective renters with valuable information about the affordability and availability of apartments in this price range.
0 25 50 75 100 <$1,000 $1,040 $1,120 $1,200 $1,280 $1,360 $1,440 $1,520 $1,600 $1,680 $1,760 $1,840 $1,920 $2,000 $2,080 $2,160 $2,240 >$2,320

Available Apartments Under $500: Madison vs. Surrounding Areas

Madison, WI
Middleton, WI
Fitchburg, WI
Sun Prairie, WI
38
4
4
3
In the current month of June 2026, there are a variety of affordable apartments available for rent in Madison, WI and the surrounding cities. The chart above displays the number of apartments under $500 in Madison, as well as in nearby cities such as Maple Bluff, Marshall, Mazomanie, McFarland, Middleton, Prairie du Sac, Stoughton, Monona, Sun Prairie, Mount Horeb, Columbus, Lake Mills, Cottage Grove, Cross Plains, New Glarus, De Forest, Deerfield, Black Earth, Verona, Lodi, Blue Mounds, Sauk City, Waterloo, Oregon, Waunakee, Arena, Fitchburg, Monticello, Poynette, and Cambridge. The data reflects the total inventory of affordable apartments in the Madison, WI metro area, providing prospective renters with valuable insights on availability in the region.

Apartments Under $500 Now vs. Last Month: Madison and Surrounding Areas

City Apartments Under $500 in June M/M % Change
Madison, WI 38 +1.02%
Middleton, WI 5 +1.13%
Fitchburg, WI 4 +0.8%
Sun Prairie, WI 3 +1.14%
Monona, WI 1 +1.12%
Verona, WI 1 +1.0%
Prairie du Sac, WI 1 0.0%
De Forest, WI 0 +1.67%
Oregon, WI 0 +1.0%
Cross Plains, WI 0 +1.5%

Looking for Apartments Under $500 in Madison?

Available apartments under $500 1,183
Top amenities Storage, Refrigerator, Range / Oven, Microwave, High Speed Internet
Deals 15
Pet friendly 31
Utilities included 21
Furnished 5
Studio 27
1 Bedroom 20
2 Bedroom 8

Where are Madison Apartments Under $500?

Top Neighborhoods Capitol, North star, Old market place, Uw madison campus, Madison west
Capitol 10
North Star 4
Old Market Place 3
UW Madison Campus 3
Madison West 2
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