22 Hours Ago
Location
407 State Street, #401, Madison, Wisconsin 53703, United States|Downtown Madison
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Property Overview
401/407 State Street presents an appealing option for renters, with a Zumper expert rating of 8.4 out of 10, reflecting its competitive pricing and strong amenities. The property scores highly in location (9/10) and amenities (8/10), offering residents excellent access to local attractions and a diverse fitness scene, enhanced by transparency in management (8/10). Its strong value proposition places it in the 70.4 percentile among nearby properties, making it a standout choice for those who value an active social and wellness lifestyle.
This summary uses Zumper’s proprietary data. “Zumper Expert Ratings,” “Things you’ll love,” and “Great for” are based on our internal analyses of market trends and renter insights.
Things you’ll love
Less expensive
Great for
Social life
Wellness
Floor plans
| 2-bed / 1-bath A/D | 2 bed | 1 bath | 600 sqft | $1,740 /mo | 2 units available | ||
| 2BR/1.0BA | 2 bed | 1 bath | 600 sqft | $1,740 /mo | 1 unit available | These cozy 2 bedroom flats are located above Warby Parker on the corner of State Street and W. Gorham Street. With a great location, lots of natural lighting, and beautiful hardwood floors, these units are perfect for making many Madison memories. | |
| 2-bed / 1-bath B | 2 bed | 1 bath | 600 sqft | $1,760 /mo | 1 unit available | ||
| 2-bed / 1-bath E/F | 2 bed | 1 bath | 600 sqft | $1,820 /mo | 2 units available |
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Policies and fees
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One-time.
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REQUIRED FEES
Security Deposit
One-time. Refundable.
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Building details
Property details
| Units | 6 |
|---|
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About 401/407 State Street
- These cozy 2 bedroom flats are located above Warby Parker on the corner of State Street and W. Gorham Street. With a great location, lots of natural lighting, and beautiful hardwood floors, these units are perfect for making many Madison memories.
Zumper Expert Rating
Our expert rating is based on a weighted average score of property attributes that renters care about most: price, amenities, location, quality, and trust.
8.4
/10
Very GoodWith a solid 8.4 out of 10 overall, 401/407 State Street is a great option for renters. While some aspects, like Quality, might not be as distinguished as other properties nearby, 401/407 State Street has a number of attractive features—namely its Price— so you can be assured your rent will come with a high standard of living.
Price·10A score that weighs the cost and location of the property, which we calculate by comparing rent prices of recent units to the median price of nearby rentals, adjusting for overall quality and features.
401/407 State Street offers an excellent balance between price and value. It's priced competitively for its amenities, location, and other key features. Compared to the median price per bedroom in the area, this property is less than, or about the same as, nearby rentals, so residents can expect great value without too many compromises on their desired standard of living.
Amenities·8A score based on the amenities offered at this property compared to other rentals in the area. We consider the quantity, quality, and popularity of features both on site and within the units.
With multiple in-demand amenities, 401/407 State Street is committed to enhancing the renting experience. And while it may have fewer total conveniences and features than similar rentals nearby, it remains a top choice for renters wanting an specific standard of living.
Location·9A score based on proximity and ease of access to shops, restaurants, schools, and public transportation while considering the desirability of the area.
401/407 State Street is exceptional when it comes to location and conveniences. Communication with management or leasing staff is usually quick and easy and they often use advanced scheduling and communication tools to streamline the process. The location of this property offers easy access to popular points of interest in the area and options for getting around.
Quality·6A score based on what makes the property stand out, such as luxury features, unique offerings, age of the building, and our ability to verify the accuracy of these details.
While 401/407 State Street does not have many hallmark characteristics to highlight, it has some qualities and features that will resonate with a broad range of renters.
Trustworthiness·8A score based on the accuracy, completeness, recency, and usefulness of the information provided by this property, so you can trust that what you see is what you get.
The level of transparency this property provides distinguishes it as a great rental. With a high attention to detail and desirable features, renters can be sure they will get an accurate picture of their potential new home.
401/407 State Street is great for:
Property highlights
We compared every listing in the surrounding area to determine which amenities are most common. If a building lacks an amenity that most others in the area have, it is a con. If a building has an amenity most others in the area do not, it is a pro. Similarly, price, schools, and size are calculated relative to the size, price, and distance to schools of the other properties nearby.How 401/407 State Street compares to other nearby properties.
Positives
- Less expensive
- The 2-bedrooms are cheaper than other similar listings nearby
Considerations
- Greater distance from grade schools
- The nearest elementary school is farther than 1 mile away
- Greater distance from high schools
- The nearest high school is farther than 1 mile away
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Rent trends in Downtown Madison
If you decide to upgrade your space, you can expect 2-bedrooms at 401/407 State Street to be 16% less than the average for similarly sized apartments in Downtown Madison.
Median rents as of Dec 20 2025.
Downtown Madison
Madison
| Month | Median Rent |
|---|---|
| January 2024 | $1,150 |
| February 2024 | $1,150 |
| March 2024 | $1,256 |
| April 2024 | $1,225 |
| May 2024 | $1,257 |
| June 2024 | $1,293 |
| July 2024 | $1,363 |
| August 2024 | $1,345 |
| September 2024 | $1,313 |
| October 2024 | $1,177 |
| November 2024 | $1,205 |
| December 2024 | $1,250 |
| January 2025 | $1,248 |
| February 2025 | $1,311 |
| March 2025 | $1,304 |
| April 2025 | $1,343 |
| May 2025 | $1,334 |
| June 2025 | $1,361 |
| July 2025 | $1,391 |
| August 2025 | $1,281 |
| September 2025 | $1,140 |
| October 2025 | $1,165 |
| November 2025 | $1,195 |
| December 2025 | $1,202 |
| Month | Median Rent |
|---|---|
| January 2024 | $964 |
| February 2024 | $1,101 |
| March 2024 | $1,098 |
| April 2024 | $1,083 |
| May 2024 | $1,195 |
| June 2024 | $1,145 |
| July 2024 | $1,093 |
| August 2024 | $1,148 |
| September 2024 | $1,136 |
| October 2024 | $1,100 |
| November 2024 | $1,122 |
| December 2024 | $1,217 |
| January 2025 | $1,223 |
| February 2025 | $1,218 |
| March 2025 | $1,196 |
| April 2025 | $1,235 |
| May 2025 | $1,280 |
| June 2025 | $1,265 |
| July 2025 | $1,288 |
| August 2025 | $1,166 |
| September 2025 | $1,125 |
| October 2025 | $1,127 |
| November 2025 | $1,181 |
| December 2025 | $1,250 |
Affordability calculator
Can I afford to live at 407 State Street?
Bedrooms
2 bedroomsRent-to-income ratio
30%
Slide to adjust the percentage of your monthly income you are willing to spend on rent.
The general rule of thumb is to spend around 30% or less of your income on rent.
Recommended income
$70,000/yr
With your selected rent-to-income ratio, you'd ideally want to make $70,000 annually to afford this 2-bedrooms median monthly rent price of $1,750.
For more information on rent affordability, visit our rent calculator.
Schools near 401/407 State Street
4K PK Off Site
545 w dayton st
madison, WI, 53703
PKPublic
Franklin Elementary School
305 w lakeside st
madison, WI, 53715
PK, K-2Public
B+
Randall Elementary School
1802 regent st
madison, WI, 53726
3-5Public
A-
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Internet available near 401/407 State Street
Getting around #401 near 407 State Street
Walking
10/10
No car? No problem. Everything you need is within a few blocks.
Driving
5/10
This area is accessible to thoroughfares and has ample parking options.
Cycling
8/10
Peddling isn’t a problem with cyclist-friendly streets and bikeable destinations.
Transit
8/10
Popular public transit options are just a short walk from this location.
Points of interest for 407 State Street, #401
Groceries
9/10
At least one grocery store within a few minutes' walk
Shopping
7/10
Variety of shops within walking distance
Cafes
7/10
Variety of cafés within walking distance
Restaurants
9/10
Variety of restaurants within a few minutes' walk
Primary schools
8/10
At least one elementary school within a 10-minute walk
High schools
8/10
At least one high school within a 20-minute walk
Parks
8/10
Large amount of park space nearby
Nightlife
10/10
Variety of bars right on the street
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