Careers
Favorites
Advertise With Us
Log In
Create Search Alert
Get alerts when new listings become available in the Madison area that match this search.
Email address:

Subscribed
Error! Please try again later.
Contact Property
Your Name

Email Address

Phone Number
Desired Move In Date
Desired Number of Bedrooms
Request a Tour Date

Ask a Question

Error! Please try again later.

Apartments Under $500 in Madison, WI

1 - 10 of 10 Results
21
$475
2025 Sherman Ave
Madison, WI
Studio | Jun. 1, 2026
Contact
Heat Included
Virtual Tour
Balcony/Deck/Patio
1
$ Ask - 3,644
The Medallion
525 E Main St Madison, WI
2 BR | Available Now
Contact
Furnished
Dog Friendly
Air Conditioning
Surface Parking
Storage
30
3D Tour
$100
Grand Arbor Reserve
4.2
10202 Rustling Birch Road Madison, WI
Studio | Available Now
Contact
Dog Friendly
Cat Friendly
Virtual Tour
Luxury
Air Conditioning
8
$408
PER
ROOM
International Cooperative House
140 W Gilman St Madison, WI
1 BR | Available Now
Contact
Dog Friendly
Cat Friendly
Storage
Capitol
2
$125
519 W Mifflin St
Madison, WI
Studio | Available Now
Contact
Surface Parking
Storage
Disability Access
Capitol
4
$500
PER
ROOM
Carroll House
423 N Carroll St Madison, WI
7 BR | Available Now
Contact
Dog Friendly
Cat Friendly
Student
Capitol
16
$320 - 495
407 Wisconsin Avenue
Madison, WI
Studio | Available Now
Contact
Capitol
1
$150
12 Langdon St
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 - 10 of 10 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 10 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 179 studio apartments under $500 available for rent in Madison.

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

Rentable.co has 492 one-bedroom apartments under $500 available for rent in Madison.

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

Rentable.co has 649 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: February Rental Information

Welcome to the February 2026 Madison Apartment Report. In this assessment of the local rental market, Rentable data scientists and rental experts break down the February 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 27 55 82 110 <$900 $960 $1,080 $1,200 $1,320 $1,440 $1,560 $1,680 $1,800 $1,920 $2,040 $2,160 $2,280 >$2,400
This month, the typical cost to rent a one-bedroom apartment in Madison stands at $1,540, with the majority falling between $950 and $2,370. Out of the 7,386 one-bedroom apartments currently on the market in Madison, 33 are priced below $500, accounting for 0% of the total available one-bedroom units in Madison.

Available Apartments Under $500: Madison vs. Surrounding Areas

Madison, WI
Middleton, WI
Sun Prairie, WI
Fitchburg, WI
40
5
4
4
In the current month of February 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 February M/M % Change
Madison, WI 40 +1.0%
Middleton, WI 5 +1.06%
Sun Prairie, WI 5 +1.03%
Fitchburg, WI 4 +1.0%
Verona, WI 1 +1.0%
De Forest, WI 1 +1.0%
Monona, WI 1 +1.0%
Cross Plains, WI 1 +0.5%
Stoughton, WI 0 +1.5%

Looking for Apartments Under $500 in Madison?

Available apartments under $500 1,373
Top amenities Storage, Refrigerator, Range / Oven, Microwave, High Speed Internet
Deals 16
Pet friendly 45
Utilities included 24
Furnished 5
Studio 28
1 Bedroom 23
2 Bedroom 11

Where are Madison Apartments Under $500?

Top Neighborhoods Capitol, North star, Old market place, Uw madison campus, Madison west
Capitol 10
North Star 5
Old Market Place 3
UW Madison Campus 3
Madison West 2
Browse Madison Apartments
Madison Apartments by Neighborhood
Madison Apartments by Bedrooms
Madison Apartments by Affordability
Madison Apartments with Amenities
Madison Apartments by Type
Colleges Near Madison
Madison Apartments by Zip Code