Apartments Under $500 in Madison, WI

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4
$500
PER
ROOM
423 N Carroll St Madison, WI
7 BR | Aug. 17, 2025
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Dog Friendly
Cat Friendly
Student
Capitol
$352
PER
ROOM
Madison, WI
1 BR | Available Now
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Dog Friendly
Cat Friendly
Balcony/Deck/Patio
Dishwasher
Capitol
16
$320 - 495
Madison, WI
Studio | Available Now
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Capitol
$451
PER
ROOM
Madison, WI
1 BR | Available Now
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Dog Friendly
Cat Friendly
Disability Access
Dishwasher
UW Madison Campus
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Apartments Under $500 in Madison, WI: February Rental Information

Welcome to the February 2024 Madison Apartment Report. In this assessment of the local rental market, Rentable data scientists and rental experts break down the February 2024 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 10 20 30 40 <$900 $940 $1,020 $1,100 $1,180 $1,260 $1,340 $1,420 $1,500 $1,580 $1,660 $1,740 $1,820 $1,900 $1,980 $2,060 $2,140 $2,220 >$2,300

Available Apartments Under $500: Madison vs. Surrounding Areas

Madison, WI
22
In the current month of February 2024, 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 23 +0.61%
Fitchburg, WI 2 +1.04%
Middleton, WI 1 +1.07%
Stoughton, WI 1 +1.0%
Oregon, WI 1 +1.0%
De Forest, WI 0 +0.83%

Looking for Apartments Under $500 in Madison?

Available apartments under $500 554
Top amenities Refrigerator, Trash Removal Included, Range / Oven, Microwave, Smoke Free Community
Pet friendly 47
Utilities included 52
Furnished 6
Studio 24
1 Bedroom 17
2 Bedroom 18
Square footage 434 - 2,024,470

Where are Madison Apartments Under $500?

Top Neighborhoods Capitol, Uw madison campus, Old market place, Marquette, Greenbush
Capitol 9
UW Madison Campus 5
Old Market Place 3
Marquette 1
Greenbush 1