The Eastern (Formerly The Standard)
1868 E Washington Ave,
Madison, WI 53704
Studio - 3 Beds | $1,640 - $3,010
Rental Market Trends in Madison, WI
What is the average rent in Madison, WI?
$1,418/month
Average Rent
710 Sq Ft
Average Apartment Size
+2.4%
Increase in the Last Year
As of December 2024, the average rent in Madison, WI is $1,418 per month. For comparison, the national average rent price in the US is currently $1,560/month, which means Madison rent prices are 9% lower than the national average. When you rent an apartment in Madison, you can expect to pay about $1,156 per month for a studio, $1,418 for a one-bedroom apartment, and around $1,760 for a two-bedroom apartment. If you opt for a three-bedroom rental, you could pay $2,134 or more.
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
How much has average rent changed in Madison, WI?
In the past year, rent has increased by 2.4%, which averages out to $35 more per month.
Market Trends Over Time
The chart below compares average rent prices to the previous year during the same time period.
Last Updated December 2024
Legend
2023
2024
Rent Ranges in Madison, WI
Last Updated December 2024
$1,001 - $1,500
Most rental prices fall within this range
Percentage*
Rent Range
3%
Below $700/month
15%
$700 - $1,000/month
39%
$1,001 - $1,500/month
30%
$1,501 - $2,000/month
14%
Above $2,000/month
Rent by Neighborhood
Last Updated Today
What are the most affordable neighborhoods in Madison?
Based on current rent prices, Sherman, Burr Oaks and Bram's Addition are the most affordable neighborhoods in Madison.
Neighborhood
Average Rent
Average Sq Ft
What are the most expensive neighborhoods in Madison?
Based on current rent prices, Marquette-Dane, Tenney-Lapham and Sunset Village are the most expensive neighborhoods in Madison.
Neighborhood
Average Rent
Average Sq Ft
Which Madison neighborhoods have the most rentals available?
The neighborhoods in Madison with the most apartments available are West Madison, Downtown Madison and East Madison .
Neighborhood
Average Rent
Average Sq Ft
What salary do I need to live comfortably in Madison, WI?
Because the average rent in Madison is $1,418, you’ll want to make about $4,726 per month or $56,712 per year. The general guideline is to pay no more than 30 percent of your monthly income on rent. However, you’ll want to consider additional factors, such as your monthly bills and other expenses. Use our rent affordability calculator to help determine how much to budget for rent.
How does Madison, WI compare to other nearby cities and neighborhoods?
Use the tool below to compare Madison, WI to other nearby cities and neighborhoods. The Apartments.com neighborhood guides provide you with insight into the area’s transportation, things to do, and more.
Studio
$996/month
$1,084/month
One Bedroom
$1,137/month
$1,594/month
Two Bedroom
$1,229/month
$2,471/month
Three Bedroom
$1,380/month
$1,826/month
Apartment communities in Madison we think you'll love
Property Management Companies in Madison, WI
Forward Management
-
44
Communities
-
3,913
Units
-
8
Cities
41 Communities in Madison
Oakbrook Corporation
-
41
Communities
-
4,076
Units
-
25
Cities
16 Communities in Madison
Wisconsin Management Company
-
27
Communities
-
2,661
Units
-
11
Cities
16 Communities in Madison
Bruner Realty & Management, Inc.
-
16
Communities
-
1,117
Units
-
8
Cities
14 Communities in Madison
Prime Urban Properties
-
12
Communities
-
615
Units
-
3
Cities
12 Communities in Madison
Goldleaf Development
-
11
Communities
-
2,096
Units
-
3
Cities
11 Communities in Madison
Fiduciary Real Estate Development
-
35
Communities
-
8,266
Units
-
21
Cities
10 Communities in Madison
Axiom Properties
-
30
Communities
-
6,603
Units
-
21
Cities
10 Communities in Madison
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Methodology
† Rent data is provided by CoStar Group’s Market Trend reports. As the industry leader in commercial real estate information, analytics, and news, CoStar conducts extensive research to produce and maintain a comprehensive database of commercial real estate information. We combine this data with public record to provide the most up-to-date rental information available.
* Percentages may not total 100 due to rounding.