Cheapest Neighborhoods in Madison, WI
Some of the cheapest neighborhoods in Madison are Burr Oaks, Reindahl Park, and Greentree. These neighborhoods offer some of the lowest rent prices in Madison, making them ideal for renters on a budget. As of September 21, 2026, the average rent in Madison is $1,514, which is 0.5% 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.
Burr Oaks
Average Rent
$1,181/Month
Year-Over-Year Rent Change
5.8%
Units Available
35 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.
Reindahl Park
Average Rent
$1,186/Month
Year-Over-Year Rent Change
0.1%
Units Available
11 Rentals
If you’re looking for a great, affordable neighborhood in Madison, Reindahl Park might be the perfect place! It has an average rent price of $1,186, while the city’s average stands at $1,514. In the last year, prices have increased by 0.1%. Reindahl Park is near Dane County Regional/Truax Field, Madison Area Technical College, and University of Wisconsin.
Greentree
Average Rent
$1,189/Month
Units Available
11 Rentals
Greentree is a top choice for budget-conscious renters for a variety of reasons. The average rent in Greentree is $1,189 while the city average is $1,514. Residents enjoy convenient access to Prairie Ridge Conservation Park, Dane County Regional/Truax Field, and University of Wisconsin.
Bram's Addition
Average Rent
$1,190/Month
Year-Over-Year Rent Change
0.4%
Units Available
33 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.
Hawthorne
Average Rent
$1,246/Month
Year-Over-Year Rent Change
1.5%
Units Available
12 Rentals
When you’re looking for a great Madison neighborhood on a budget, check out Hawthorne. The average rent is $1,246, compared to the city average of $1,514. Rent prices have decreased by 1.5%. Hawthorne is convenient to Edgewood University, University of Wisconsin, and Herzing University.
Sherman
Average Rent
$1,263/Month
Year-Over-Year Rent Change
5.1%
Units Available
111 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.
Ridgewood
Average Rent
$1,282/Month
Year-Over-Year Rent Change
0.3%
Units Available
12 Rentals
Ridgewood is an affordable neighborhood in Madison with an average rent price of $1,282. Compare this to the city average of $1,514. In the past year, rent prices have increased by 0.3%. Ridgewood provides easy access to University of Wisconsin, East Town Plaza, and Heritage Sanctuary.
Carpenter-Ridgeway
Average Rent
$1,378/Month
Year-Over-Year Rent Change
2.7%
Units Available
92 Rentals
If you’re looking for a great, affordable neighborhood in Madison, Carpenter-Ridgeway might be the perfect place! It has an average rent price of $1,378, while the city’s average stands at $1,514. In the last year, prices have decreased by 2.7%. Carpenter-Ridgeway is near University of Wisconsin, Elvehjem Sanctuary, and Olbrich Botanical Gardens.
Brentwood Village
Average Rent
$1,400/Month
Year-Over-Year Rent Change
2.5%
Units Available
12 Rentals
Brentwood Village is a top choice for budget-conscious renters for a variety of reasons. The average rent in Brentwood Village is $1,400 while the city average is $1,514. This is a 2.5% difference from last year. Residents enjoy convenient access to Madison Area Technical College, Sherman Plaza, and Olbrich Botanical Gardens.
Orchard Ridge
Average Rent
$1,431/Month
Year-Over-Year Rent Change
3.5%
Units Available
22 Rentals
When you’re looking for a great Madison neighborhood on a budget, check out Orchard Ridge. The average rent is $1,431, compared to the city average of $1,514. Rent prices have decreased by 3.5%. Orchard Ridge is convenient to Herzing University, North Country National Scenic Trail, and Elver Park.
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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.