Most Affordable Neighborhoods in Madison, WI
Some of the cheapest neighborhoods in Madison are Sherman, Burr Oaks, and Bram's Addition. These neighborhoods offer some of the lowest rent prices in Madison, making them ideal for renters on a budget. As of January 26, 2025, the average rent in Madison is $1,422, which is 1.2% higher than last year. However, it's important to remember that rental prices can vary significantly based on factors such as location, amenities, and floor plans.
Sherman
Average Rent
$1,211/Month
Year-Over-Year Rent Change
8.5%
TransitScore® Rating
40/100
Units Available
21 Rentals
Sherman in Madison, Wisconsin, offers numerous inexpensive apartment options, perfect for those seeking budget-friendly living. The neighborhood boasts several parks and recreational facilities ideal for outdoor activities, as well as shopping and dining options.
Burr Oaks
Average Rent
$1,216/Month
Year-Over-Year Rent Change
3.9%
TransitScore® Rating
42/100
Units Available
17 Rentals
Burr Oaks is a quiet neighborhood near Madison's best parks, restaurants, shopping, and attractions. The cozy area is separated enough from downtown that residents can enjoy a sense of peaceful seclusion without losing the conveniences of city life.
Bram's Addition
Average Rent
$1,225/Month
Year-Over-Year Rent Change
0.9%
TransitScore® Rating
42/100
Units Available
16 Rentals
Bram's Addition in Madison, Wisconsin, offers budget-friendly apartments with convenient access to local parks and public transportation. The neighborhood is on the south side of Madison and is known for its historic single-family homes and residential, walkable streets.
Berkeley Oaks
Average Rent
$1,252/Month
Year-Over-Year Rent Change
1%
TransitScore® Rating
31/100
Units Available
14 Rentals
Berkeley Oaks is a scenic neighborhood next to Warner Park and Lake Mendota. With dog parks, beaches, and boat ramps, this neighborhood is perfect for residents who want to be near the waterfront. Additionally, a 15-minute drive into Downtown Madison provides nearby entertainment and dining.
South Madison
Average Rent
$1,324/Month
Year-Over-Year Rent Change
2.7%
TransitScore® Rating
22/100
Units Available
161 Rentals
South Madison extends along Highway 18 and offers affordable living with convenient access to several parks, shops, and restaurants, especially near the popular Alliant Energy Center. The neighborhood provides a mix of city and suburban life, located less than a mile from Downtown Madison and close to outdoor activities like hiking the Capital City Trail and boating on nearby lakes.
Midvale Heights
Average Rent
$1,388/Month
Year-Over-Year Rent Change
0.8%
TransitScore® Rating
49/100
Units Available
27 Rentals
Midvale Heights is just four miles southwest of Downtown Madison. This neighborhood is close to Madison's most prominent attractions, including the Henry Vilas Zoo, the University of Wisconsin-Madison, and the Odana Hills Golf Course.
Hill Farms-University
Average Rent
$1,456/Month
Year-Over-Year Rent Change
1.6%
TransitScore® Rating
43/100
Units Available
38 Rentals
Hill Farms-University offers affordable living with the convenience of nearby schools, parks, and shopping outlets, all within walking distance. Located just ten minutes from the Wisconsin State Capitol, this neighborhood provides easy access to the University of Wisconsin campus and scenic views of Lake Mendota.
Regent
Average Rent
$1,473/Month
TransitScore® Rating
50/100
Units Available
92 Rentals
The Regent neighborhood is right next to the University of Wisconsin-Madison, giving it a youthful atmosphere. The neighborhood features museums, sporting events, and numerous parks and natural areas. Residents also enjoy the proximity to University Station Shopping Mall.
Eken Park
Average Rent
$1,535/Month
Year-Over-Year Rent Change
1.1%
TransitScore® Rating
44/100
Units Available
14 Rentals
Eken Park in Madison, Wisconsin, stands out for its affordable apartment options, catering to cost-conscious renters. Public transportation is readily accessible, making commuting straightforward. Proximity to parks and shopping centers further enhances convenience and livability.
East Madison
Average Rent
$1,605/Month
Year-Over-Year Rent Change
0.6%
TransitScore® Rating
28/100
Units Available
560 Rentals
When you’re looking for a great Madison neighborhood on a budget, check out East Madison. The average rent is $1,605, compared to the city average of $1,422. Rent prices have increased by 0.6%. East Madison is convenient to Heritage Sanctuary, Madison Area Technical College, and Dane County Regional/Truax Field. The community is car-dependent with a WalkScore® of 47.
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Methodology
Transit Score measures access to public transit. Scores range from 0 (minimal transit) to 100 (rider’s paradise). Learn more about the Transit Score methodology. Rental data is sourced from CoStar Group’s Market Trend reports. As a leading authority in commercial real estate information, analytics, and news, CoStar performs in-depth research to build and sustain an extensive database of commercial real estate insights.
We've combined this data with public records to provide the most current rental information available.