5

Madison, IL Homes for Rent

Section Image
  • /20

    $625 Per Month

    • 2 Beds
    • 1 Bath
    • House for Rent

    1532 5th St, Madison, IL 62060

    Property Id: 2773363 Why keep renting when you could own? This home offers: • Affordable monthly payment • Move in right away • No traditional bank financing required • A chance to build ownership instead of paying rent Perfect for someone ready to take the next step toward owning a home but who may not qualify for a traditional mortgage. Opportunities like

    1532 5th St, Madison, IL 62060
  • /17

    $625 Per Month

    • 2 Beds
    • 1 Bath
    • House for Rent

    1541 5th St, Madison, IL 62060

    Property Id: 2773399 Why keep renting when you could own? This home offers: • Affordable monthly payment • Move in right away • No traditional bank financing required • A chance to build ownership instead of paying rent Perfect for someone ready to take the next step toward owning a home but who may not qualify for a traditional mortgage. Opportunities like

    1541 5th St, Madison, IL 62060
  • /7

    $950 Per Month

    • 2 Beds
    • 1 Bath
    • 1,053 Sq Ft
    • House for Rent

    2021 Edwardsville Rd, Madison, IL 62060

    Property Id: 2744988 Why keep renting when you could own? This home offers: • Affordable monthly payment • Move in right away • No traditional bank financing required • A chance to build ownership instead of paying rent Perfect for someone ready to take the next step toward owning a home but who may not qualify for a traditional mortgage. Opportunities like

    2021 Edwardsville Rd, Madison, IL 62060
  • /20

    $1,150 Per Month

    • 3 Beds
    • 1.5 Baths
    • House for Rent

    1715 Edwardsville Rd, Madison, IL 62060

    3-bedroom, 1.5-bathroom spacious rental in Madison, ready for you to call "Home!". Laundry hook-up, unfinished basement, eat-in kitchen, and large, detached carport/garage in back. Credit score must be at least 550, pets will need owner approval. Schedule a showing today!By submitting your information on this page you consent to being contacted by the Property Manager and RentEngine via

    1715 Edwardsville Rd, Madison, IL 62060
  • /10

    $795 Per Month

    • 1 Bed
    • 1 Bath
    • 381 Sq Ft
    • House for Rent

    809 Greenwood St, Madison, IL 62060

    Cute home available for showings! Off-street parking, central heat and air, and unfinished basement w/ washer/dryer hook-ups. Credit score must be 550+, pets okay with owner approval. By submitting your information on this page you consent to being contacted by the Property Manager and RentEngine via SMS, phone, or email.

    809 Greenwood St, Madison, IL 62060

Why Live in Madison

Madison, Illinois, situated just six miles northeast of downtown St. Louis, offers a blend of small-town tranquility and vibrant attractions. The city is renowned for the World Wide Technology Raceway, a 65,000-seat venue hosting NASCAR and professional drag racing events, which has significantly boosted local growth and economy. Residents can enjoy performances from world-famous musicians at the raceway, adding to the city's lively atmosphere. Madison features several parks, including 7th & Lee Public Park and Madison Baseball Diamonds, where community sports leagues are popular. The Mississippi River provides scenic outdoor activities with the Old Chain of Rocks Bridge & Park and Chouteau Island Nature Trail, ideal for hiking, bird-watching, and fishing. Gateway National Golf Course, known for its public bent grass fairways, offers golfing opportunities and a clubhouse for social gatherings. Dining options include the historic Marko’s Fish Restaurant and nearby Madison Meat Market, with larger supermarkets like Walmart and Schnucks located in Granite City. Housing in Madison primarily consists of single-story shotgun and Craftsman-style homes from the early 1900s, reflecting affordable prices. The city is in a transition period, moving from rentals to home ownership. Transportation to St. Louis is convenient via State Route 203 and interstates 55 and 70, with regional bus services connecting to the City Metro Link.

Frequently Asked Questions

How much does it cost to rent a home in Madison, IL?
The median rent for a home in Madison, IL is $872 per month, though prices vary by neighborhood, size, and property type. As of August 2026, townhouses tend to be the most affordable option while single-family homes are currently more expensive.
How much do you need to make to afford rent in Madison, IL?
To comfortably afford the median rent in Madison, IL, a household needs to earn roughly $34,880 per year. This is based on the common guideline that households should spend no more than 30% of gross income on housing. Most landlords require monthly household income of at least 3x the monthly rent, and with a median rent of $872 per month in Madison, IL, renters typically need to show $2,616 per month in gross income to qualify. Actual affordability will vary depending on household debts, other living expenses, and overall budget.
Is it more affordable to rent or buy in Madison, IL?
In Madison, IL, the price-to-rent ratio is 7.3, which generally favors renting. This ratio divides the median home price by the annual median rent: below 15 typically favors buying, 15 to 20 is balanced, and above 20 typically favors renting. Your finances, how long you plan to stay, and costs like mortgage rates, taxes, and maintenance all factor into the decision.
What neighborhoods in Madison, IL are best for renting a home?
The best neighborhood for renting in Madison, IL depends on your priorities: commute, walkability, budget, and lifestyle all play a role. Popular areas for renting a home include College Hill, Baden, Downtown Saint Louis, Downtown West and Lafayette Square, each with its own character and price range.

Rental Home Trends

Number of Homes for Rent
5
Median Rent
$872
Median Single Family Home Rent
$950
Median Townhouse Rent
$795
How to Rent a Home