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Newest Homes for Rent in Madison, IL

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  • 1635 W 1st St, Granite City, IL 62040
    1635 W 1st St, Granite City, IL 62040
    1635 W 1st St, Granite City, IL 62040
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    Starting at $625 Per Month

    • Studio - 4 Beds

    1635 W 1st St, Granite City, IL 62040

    River's Edge Apartments offers a variety of efficiency, 2, 3, and 4 bedroom layouts in a campus-like setting. Our convenient location provides excellent access to the region: just 10 minutes to downtown St. Louis, MO, and fast access to Pontoon Beach, Glen Carbon, Edwardsville, Wood River, Collinsville, Fairview Heights, and other Southwest Illinois communities. Rent includes electric, gas,

    Rivers Edge Apartments

    1635 W 1st St, Granite City, IL 62040
  • 1906 Rhodes St Unit 4, Madison, IL 62060
    1906 Rhodes St Unit 4, Madison, IL 62060
    1906 Rhodes St Unit 4, Madison, IL 62060
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    $800 Per Month

    • 1 Bed
    • 1 Bath
    • 550 Sq Ft
    • Condo for Rent

    1906 Rhodes St Unit 4, Madison, IL 62060

    Updated One-Bedroom Apartment in Madison, ILDiscover this renovated 1-bedroom, 1-bath apartment at 1906 Rhodes St in Madison, Illinois, offering approximately 550 square feet of comfortable living space. With fresh paint, updated finishes, and a clean, move-in-ready feel, this apartment is a practical and appealing option for renters seeking a well-kept home in a convenient location. The interior

    1906 Rhodes St Unit 4, Madison, IL 62060
  • 809 Greenwood St, Madison, IL 62060
    809 Greenwood St, Madison, IL 62060
    809 Greenwood St, Madison, IL 62060
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    $695 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
  • 1532 5th St, Madison, IL 62060
    1532 5th St, Madison, IL 62060
    1532 5th St, Madison, IL 62060
    /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
  • 1541 5th St, Madison, IL 62060
    1541 5th St, Madison, IL 62060
    1541 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
Illinois Madison County

Newest Homes for Rent in Madison, IL

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 $710 per month, though prices vary by neighborhood, size, and property type. As of August 2026, single-family homes tend to be the most affordable option while townhouses and condos 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 $28,400 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 $710 per month in Madison, IL, renters typically need to show $2,130 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 9.0, 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, Mark Twain and Downtown West, each with its own character and price range.

Rental Trends in Madison, IL

There are currently 5 homes available for rent in Madison, IL. The median rent is $710 per month, with single-family homes renting at $625, townhouses at $795 and condos at $800.

Rental Home Trends

Number of Homes for Rent
5
Median Rent
$710
Median Single Family Home Rent
$625
Median Townhouse Rent
$795
Median Condo Rent
$800
How to Rent a Home

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