How much does it cost to rent an apartment in Madison?
Bed TypeAverage RentRange
$610 - $1,680
$830 - $2,330
$930 - $3,540
$1,230 - $3,500
$410 - $7,000
Frequently Asked Questions
How many apartments are available in Madison, WI on Rentable.co?
Rentable.co has over 36,236 apartments available in Madison.
What is the average rent for a studio apartment in Madison, WI?
The average rent for a studio apartment in Madison is around $1,050 per month.
What is the average rent for a one-bedroom apartment in Madison, WI?
The average rent for a one-bedroom apartment in Madison is around $1,500 per month.
What is the average rent for a two-bedroom apartment in Madison, WI?
The average rent for a two-bedroom apartment in Madison is around $1,680 per month.
How expensive is living in Madison, WI?
Based on average rent prices in Madison, to afford a studio apartment you would need an annual salary of $42,000 to live comfortably.
University of Wisconsin - Madison
The University of Wisconsin (UW) is a highly ranked school that sits in the progressive town of Madison right on the shores of Lake Mendota. UW is known for its active undergrad community, high academic standards, and involved faculty. Some of the most popular programs at UW include Biology, Economics, Political Science, Psychology, and History.
The school has a reputation for being one of the top party schools in the country, partially because freshmen are allowed to live off-campus in the first year. Students here are incredibly friendly, the kind of people that will stop in the hallway and talk with just about anyone. The Greek Life here thrives and is one of the main social hubs in the undergrad community.
Sports are also a beloved pastime at UW. The Badgers Division I sports teams are beloved and high-performing, drawing huge crowds of devoted fans to every one of their games. They also offer scholarship for many other popular sports, including basketball, soccer, tennis, and cross-country running. In short, it’s safe to say that this University loves sports.
When to Search
The apartment search typically kicks off around October, when students begin to consider what they want in an apartment, find good housemates, and decently priced places close to campus. When March rolls around, most students are signing their leases and locking down a good place. By May, most of the apartments close to campus have been snatched up. Of course, many apartments are still available, but you may have to sacrifice proximity to campus, neighborhood walkability, building amenities, and/or apartment quality. Decide which factors are the most important to you before beginning your search and which factors you can compromise on. Remember, the earlier you begin looking, the more likely you are to get the kind of place you’re searching for!
Welcome to the March 2023 Madison Apartment Report. In this assessment of
the local rental market, Rentable data scientists and rental experts break down the
March 2023 key findings and figures for the Madison rental landscape.
Our experts analyze the pricing trends — one-bedroom, two-bedroom, year-over-year and month-over-month — in
Madison and surrounding areas and provide comparisons to the entire metro area, nearby cities and
some of the most desirable and expensive cities in the United States. Take a look at the last 12 months of
Madison average rent prices in the chart below.
Monthly Rent Report
Madison Rent Prices Increase From February to March
Madison rent prices increased over the last month. From February to March, the city experienced a 5.95% increase for the price of a one-bedroom apartment. The rent price for a Madison one-bedroom apartments currently stands at $1,247.0.
When we take a look at the two-bedroom comparison from February to March, Madison experienced a 3.56% increase for the price of a two-bedroom apartment. The rent price for a Madison two-bedroom apartments currently stands at $1,514.0.
March Prices: Madison vs. Surrounding Areas
Rent Prices in Madison and Surrounding Areas
Rent prices have increased in Madison over the last month. But how have the surrounding areas fared when it comes to the recent volatility in apartment prices? Rent prices in 6 of the Madison suburbs increased last month. On the other hand, 1 local areas experienced a decrease in the price of a one-bedroom apartment.
More key findings include:
Rent increased in Fitchburg, WI, Cottage Grove, WI, Middleton, WI, Waunakee, WI, Verona, WI, De Forest, WI .
Rent decreased in Sun Prairie, WI.
3 suburbs are currently priced higher than the city of Madison.
4 suburbs are currently priced lower than the city of Madison.
March 2023 Pricing Trends: Madison vs. National Comparisons
Madison Rent Prices More Affordable Than Major Cities
Rent growth in Madison over the past year has been
on the rise. When compared to major cities nearby, along
with some of the most expensive cities in the country, Madison average rent prices appear to be
relatively affordable for local residents.
The price for a Madison one-bedroom apartment remains vastly more affordable than four of the largest cities in the United States — New York City, Washington, D.C. San Francisco and Los Angeles. And pricing compares quite similarly to nearby Midwest cities.
For more information about Madison and surrounding area rent prices, take a look at the complete data set below.
Data set for Madison and suburbs
1 BR March
1 BR M/M % Change
2 BR March
2 BR M/M % Change
Sun Prairie, WI
Cottage Grove, WI
De Forest, WI
Each month, using over 1 million Rentable listings across the United States, we calculate the median
1-bedroom and 2-bedroom rent prices by city, state, and nation, and track the month-over-month percent change. To
avoid small sample sizes, we restrict the analysis for our reports to cities meeting minimum population and
property count thresholds.