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Shepard Terrace Apartments earns a strong overall impression with high marks for price, amenities, location, quality, and trustworthiness, suggesting solid value and a well-managed living experience. It is newly renovated with hardwood flooring and a fully renovated kitchen, plus 24-hour emergency maintenance and shared laundry. It also stands out for pet-friendly access, nearby schools, and a large photo gallery that helps renters preview the property.
Things you’ll love
More spaceLess expensiveHigh school nearbyGreat for
Pet owners| Shepard - 1BD | 1 bed | 1 bath | 650 sqft | $1,195 /mo | 2 units available | 1 bed 1 bath apartment unit located close to the UW and VA Hospital and minutes from Downtown. Washer and dryer shared in building and hard wood flooring throughout the apartment. -One surface parking space included w/ rent -$75/month utility fee (includes water, hot water and heat) -Resident responsible for electricity and internet -Security Deposit equal to 1/2 month's rent -Professionally managed with 24-hour emergency maintenance -Tenant must obtain and show proof of renter's insurance -No smoking in the unit **photos of a similar apartment in the building** | |
| Lynn - 2BD | 2 bed | 1 bath | 900 sqft | $1,375 /mo | 1 unit available | 2 bed/1 bath apartment unit located in Downtown Madison and a short distance to UW, many shops, restaurants, and entertainment. Old hardwood flooring provides great character. Screened in porch. Laundry shared in basement. 1 parking stall with additional street parking. Storage in basement. Tenant pays utilities (Water & Sewer is $75.00/mo in addition to rent). Pics are of model unit. | |
| Shepard - 2BD | 2 bed | 1 bath | 800 sqft | $1,375 /mo | 1 unit available | This 2 bedroom, 1 bathroom apartment is just off University Avenue, located near the UW Hospital. It is located in the University Heights neighborhood with quick access to both Hilldale Mall and Downtown Madison. -One surface parking space included w/ rent -$75/month utility fee (includes water, hot water and heat) -Resident responsible for electricity and internet -Security Deposit equal to 1/2 month's rent -Professionally managed with 24-hour emergency maintenance -Tenant must obtain and show proof of renter's insurance -No smoking in the unit **photos of a similar apartment in the building** | |
| Shepard - 2BD Remodel | 2 bed | 1 bath | 800 sqft | $1,395 /mo | 1 unit available | This newly renovated 2 bedroom, 1 bathroom apartment is just off University Avenue and is located near the UW Hospital. The kitchen has been fully renovated and includes: dishwasher, electric oven/stove, microwave, fridge and disposal. The bathroom has also been renovated with a new toilet, vanity and additional storage. The apartment also features hardwood flooring throughout. Give us a call to schedule a tour today! Here are some other features: -One surface parking space included w/ rent -$75/month utility fee (includes water, hot water and heat) -Resident responsible for electricity and internet -Security Deposit equal to 1/2 month's rent -Professionally managed with 24-hour emergency maintenance -Tenant must obtain and show proof of renter's insurance -No smoking in the apartment |
Let's explore this property.
Apartment Amenities
| Central Heat | Heating |
| Trash |
Appliances
| Dishwasher | Fridge |
| Microwave | Oven |
| Range | Range/Oven |
| Refrigerator |
Building
| Cats OK | Dogs OK |
| Water/Sewer |
One-time.
One-time. Refundable.
Questions about this property’s policies and fees?
| Units | 32 |
|---|
Shepard Terrace Apartments in Madison, WI offers comfortable one-level living with convenient on-site shared laundry and additional storage options. Residents can secure a parking permit, and each unit includes one off-street parking stall for easy access. Located in Madison, the community provides straightforward amenities designed for practical daily living. The property consists of seven addresses of 506, 510, 514 518 and 522 Shepard Terrace, 602 N Franklin Ave and 2737 Lynn Terrace
How Shepard Terrace Apartments compares to other nearby properties.
Positives
Considerations
1-bedroom apartments here are priced 18% lower than 1-bedrooms in Sunset Village.
If you decide to upgrade your space, you can expect 2-bedrooms at Shepard Terrace Apartments to be 23% less than the average for similarly sized apartments in Sunset Village.
| Month | Median Rent |
|---|---|
| August 2024 | $1,361 |
| 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 | $1,195 |
| January 2026 | $1,217 |
| February 2026 | $1,257 |
| March 2026 | $1,267 |
| April 2026 | $1,276 |
| May 2026 | $1,213 |
| June 2026 | $1,258 |
| July 2026 | $1,297 |
| August 2026 | $1,329 |
| Month | Median Rent |
|---|---|
| May 2026 | $1,065 |
| June 2026 | $1,065 |
| July 2026 | $1,065 |
Can I afford to live at 506 Shepard Ter #602 N. Franklin Avenue?
Bedrooms
Rent-to-income ratio
30%
$47,800/yr
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