5

Madison, IL Houses for Rent

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  • 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
  • 2021 Edwardsville Rd, Madison, IL 62060
    2021 Edwardsville Rd, Madison, IL 62060
    2021 Edwardsville Rd, 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
  • 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
  • 1715 Edwardsville Rd, Madison, IL 62060
    1715 Edwardsville Rd, Madison, IL 62060
    1715 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
  • 809 Greenwood St, Madison, IL 62060
    809 Greenwood St, Madison, IL 62060
    809 Greenwood St, 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
Illinois Madison County

Houses for Rent in Madison, IL

Frequently Asked Questions

How much does it cost to rent a single-family home in Madison, IL?
The median rent for a single-family home in Madison, IL is $950 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 single-family 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 single-family home include Capitol Hill, Penrose, Bevo Mill and Walnut Park West, each with its own character and price range.

Rental Home Trends in Madison, IL

There are currently 5 single-family homes available for rent in Madison, IL. The median rent is $950 per month, with 3-bedroom houses renting at $1,150.

Rental Home Trends

Number of Houses for Rent
5
Median Single Family Home Rent
$950
Median 3 Bedroom Single Family Home Rent
$1,150
How to Rent a Home

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