Apartments Under $700 in Madison, WI

  1. Home
  2. Madison Apartments
  3. Apartments Under $700

Get your search on...
Apartments Under $700 in Madison, WI

Search and browse 4575 apartments under $700 available for rent in Madison, WI. With apartments that span the entire city, you will find an apartment in Madison for just the right price. During your search, sort your favorite apartments under $700 by one of our listed amenities — covered parking, in-unit washer and dryer, a rooftop pool, a modern fitness center, an updated kitchen, energy efficient appliances, smart technology, online leasing, payments, and more. Want to tour a property? Schedule a tour online and you’ll be moving in to your new Madison apartment before you know it.

Madison:
May Rent Report

Welcome to the May 2020 Madison Apartment Report. In this assessment of the local rental market, ABODO data scientists and rental experts break down the May 2020 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 rent prices in the chart below.

Monthly Rent Report

Madison Rent Prices Increase From April to May

Madison rent prices increased over the last month. From April to May, the city experienced a 2.17% increase for the price of a one-bedroom apartment. The rent price for a Madison one-bedroom apartments currently stands at $1,130.0.

When we take a look at the two-bedroom comparison from April to May, Madison experienced a 1.23% increase for the price of a two-bedroom apartment. The rent price for a Madison two-bedroom apartments currently stands at $1,395.0.

May 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 2 of the Madison suburbs increased last month. On the other hand, 5 local areas experienced a decrease in the price of a one-bedroom apartment.

More key findings include:

  • Rent increased in Middleton, WI, Cottage Grove, WI .

  • Rent decreased in Fitchburg, WI, Sun Prairie, WI, Verona, WI, Waunakee, WI, Maple Bluff, WI.

  • 5 suburbs are currently priced higher than the city of Madison.

  • 2 suburbs are currently priced lower than the city of Madison.

May 2020 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 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.

You can view the full rundown of ABODO's May 2020 National Apartment Report and data set here.

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 May 1 BR M/M % Change 2 BR May 2 BR M/M % Change
Madison, WI $1,106.0 1.75% $1,378.0 1.70%
Fitchburg, WI $1,228.0 -0.41% $1,454.0 1.04%
Sun Prairie, WI $1,221.0 0.00% $1,444.0 1.26%
Middleton, WI $1,307.0 0.85% $1,422.0 0.50%
Verona, WI $1,045.0 -0.38% $1,277.0 0.47%
Waunakee, WI $1,266.0 -0.71% $1,684.0 0.60%
Maple Bluff, WI $1,676.0 -0.24% $3,083.0 -0.23%
Cottage Grove, WI $1,126.0 11.60% $1,423.0 2.67%

Methodology

Each month, using over 1 million ABODO 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.