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808 N 24th Street
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3010 W Wells St
(414) 345-1700
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2620a W. Locust Street
(414) 933-2700
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1656 S 8th Street
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835 N. 23rd Street
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Westover Apartments
(414) 940-8954
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Deer Trail Apartments
(414) 940-8044
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1609 Prospect Apartments
(414) 270-6366
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East Park Apartments
(414) 326-6749
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River Place Apartments
(888) 441-0517
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2435 W Wisconsin Avenue
(414) 342-3052
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530 N 27th Street
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2803 W Kilbourn Avenue
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3210 W Wells Street
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2338 W Frst
(414) 282-6280
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Humboldt Apartments
(414) 264-8535
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836 N 28th Street
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2621 W Michigan Street
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931 S 15Th St
(262) 232-8738
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3345 West Highland Boulevard
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Royal Plaza Apartments
(414) 588-7258
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3075-3077 N Newhall St
(414) 339-3992
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729 S 21St St
(414) 476-6063
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3104 W. Wells Street
(414) 442-1700
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3118 W. Wells Street
(414) 395-8166
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2803 W. Kilbourn Avenue
(414) 442-1700
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3227 W. Wells Street
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3920 N. 6th Street
(414) 395-8166
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2418a East Webster Place
(414) 962-8030
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Appleton Heights
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Apartments Under $500 in Milwaukee, WI

1 of 32 Results
9
$495
808 N 24th Street
Deal
Milwaukee, WI
1 BR | Available Now
Contact
Heat Included
Covered Parking
Surface Parking
Storage
Avenues West
7
$395
3010 W Wells St
Deal
Milwaukee, WI
Studio | Available Now
Contact
Heat Included
Student
Covered Parking
Surface Parking
Concordia
8
$495
2620a W. Locust Street
Milwaukee, WI
2 BR | Available Now
Contact
5
$475
1656 S 8th Street
Deal
Milwaukee, WI
Studio | Available Now
Contact
Heat Included
Surface Parking
Historic Mitchell Street
16
$395
835 N. 23rd Street
Milwaukee, WI
Studio | Available Now
Contact
Senior Community
Air Conditioning
Avenues West
5
$ Ask - 800
Westover Apartments
10400-30 W. Fond Du Lac Milwaukee, WI
2 BR | May. 15, 2023
Contact
Heat Included
Air Conditioning
Storage
8
$ Ask - 1,050
Deer Trail Apartments
9800-9875 Menomonee Park Court Milwaukee, WI
2 BR | Available Now
Contact
Heat Included
Air Conditioning
Surface Parking
Balcony, Deck, Patio
12
$ Ask - 1,085
1609 Prospect Apartments
Deal
1609 N Prospect Avenue Milwaukee, WI
1 BR | Available Now
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Dog Friendly
Cat Friendly
Storage
Dishwasher
Lower East Side
9
$ Ask - 715
East Park Apartments
Deal
1522 Marshall Street Milwaukee, WI
Studio | Available Now
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Dog Friendly
Cat Friendly
Air Conditioning
Covered Parking
Lower East Side
17
$ Ask - 1,245
River Place Apartments
4201 W. Hawthorne Trace Rd Milwaukee, WI
2 BR | Available Now
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Dog Friendly
Cat Friendly
Air Conditioning
In Unit Laundry
Fitness Center
6
$465
2435 W Wisconsin Avenue
Milwaukee, WI
Studio | Available Now
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Heat Included
Cat Friendly
Avenues West
5
$500
530 N 27th Street
Deal
2.5
Milwaukee, WI
1 BR | Available Now
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Heat Included
Surface Parking
Concordia
5
$390 - 395
2803 W Kilbourn Avenue
Deal
Milwaukee, WI
Studio - 1 BR | Available Now
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Heat Included
Surface Parking
Concordia
3
$495
3210 W Wells Street
Milwaukee, WI
1 BR | Available Now
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Heat Included
Student
Covered Parking
Surface Parking
Concordia
3
$390
2338 W Frst
Milwaukee, WI
1 BR | Available Now
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Heat Included
Balcony, Deck, Patio
Storage
Disability Access
Dishwasher
1
$ Ask - 855
Humboldt Apartments
2628-2630 N. Humboldt Avenue Milwaukee, WI
1 BR | Apr. 1, 2023
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Heat Included
Storage
Riverside Park
1
$495
836 N 28th Street
Deal
Milwaukee, WI
1 BR | Available Now
Contact
Heat Included
Covered Parking
Surface Parking
Storage
Concordia
1
$475
2621 W Michigan Street
Deal
Milwaukee, WI
1 BR | Available Now
Contact
Heat Included
Surface Parking
Concordia
0
$400
931 S 15Th St
Milwaukee, WI
1 BR | Available Now
Contact
Storage
Disability Access
Dishwasher
Clarke Square
2
$500
3345 West Highland Boulevard
Milwaukee, WI
Studio | Available Now
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Heat Included
Storage
Cold Spring Park
2
$ Ask - 850
Royal Plaza Apartments
1725 N. Prospect Avenue Milwaukee, WI
1 BR | Available Now
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Heat Included
Furnished
Dog Friendly
Cat Friendly
Fitness Center
1
$ Ask - 1,390
3075-3077 N Newhall St
Milwaukee, WI
4 BR | Available Now
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Student
House
Surface Parking
0
$450
729 S 21St St
Milwaukee, WI
Studio - 1 BR | Available Now
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Dishwasher
Clarke Square
2
$410
3104 W. Wells Street
Milwaukee, WI
1 BR | Available Now
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Heat Included
Balcony, Deck, Patio
Concordia
1
$395
3118 W. Wells Street
Milwaukee, WI
Studio | Available Now
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Heat Included
Concordia
1
$495
2803 W. Kilbourn Avenue
Milwaukee, WI
1 BR | Available Now
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Concordia
$425
3227 W. Wells Street
Milwaukee, WI
Studio | Available Now
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Heat Included
Concordia
2
$475
3920 N. 6th Street
Milwaukee, WI
Studio | Available Now
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1
$495
2418a East Webster Place
Milwaukee, WI
2 BR | Available Now
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Murray Hill
$461
Appleton Heights
9903 W Appleton Ave Milwaukee, WI
3 BR | Available Now
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Heat Included
Air Conditioning
Surface Parking
Balcony, Deck, Patio
Dishwasher
1 - 30 of 32 Results
  1. Home
  2. Milwaukee
  3. Apartments Under $500

How much does it cost to rent an apartment in Milwaukee?

Milwaukee Apartments
Bed Type Average Rent Range
Studio $730 $500 - $1,450
1BR $900 $600 - $1,730
2BR $1,100 $700 - $2,970
3BR $1,350 $800 - $2,510
4+BR $1,620 $930 - $2,970
Frequently Asked Questions

How many apartments are available in Milwaukee, WI on Rentable.co?

Rentable.co has over 27,917 apartments available in Milwaukee.

What is the average rent for a studio apartment in Milwaukee, WI?

The average rent for a studio apartment in Milwaukee is around $730 per month.

What is the average rent for a one-bedroom apartment in Milwaukee, WI?

The average rent for a one-bedroom apartment in Milwaukee is around $900 per month.

What is the average rent for a two-bedroom apartment in Milwaukee, WI?

The average rent for a two-bedroom apartment in Milwaukee is around $1,100 per month.

How expensive is living in Milwaukee, WI?

Based on average rent prices in Milwaukee, to afford a studio apartment you would need an annual salary of $29,000 to live comfortably.

How many apartments under $500 are available in Milwaukee, WI on Rentable.co?

Rentable.co has 32 apartments under $500 available for rent in Milwaukee.

Which neighborhoods have the most apartments under $500 for rent in Milwaukee, WI?

  1. Concordia
  2. Kilbourn Town
  3. Murray Hill
  4. Lower East Side
  5. Avenues West

Asset 2
Apartments by Bedrooms
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2 Bedroom Apartments
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4 Bedroom Apartments
Studio Apartments
Apartments by Affordability
Cheap Apartments
Apartments Under $500
Apartments Under $600
Apartments Under $700
Apartments Under $800
Apartments Under $900
Apartments Under $1,000
Apartments Under $1,200
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Milwaukee:
March Rent Report

Welcome to the March 2023 Milwaukee Apartment Report. In this assessment of the local rental market, Rentable data scientists and rental experts break down the March 2023 key findings and figures for the Milwaukee rental landscape.

Our experts analyze the pricing trends — one-bedroom, two-bedroom, year-over-year and month-over-month — in Milwaukee and surrounding areas and provide comparisons to the entire metro area, nearby cities and some of the most desirable and expensive cities in the United States. Take a look at the last 12 months of Milwaukee average rent prices in the chart below.

Monthly Rent Report

Milwaukee Rent Prices Decrease From February to March

Milwaukee rent prices decreased over the last month. From February to March, the city experienced a -7.73% decrease for the price of a one-bedroom apartment. The rent price for a Milwaukee one-bedroom apartments currently stands at $1,098.0.

When we take a look at the two-bedroom comparison from February to March, Milwaukee experienced a -3.97% decrease for the price of a two-bedroom apartment. The rent price for a Milwaukee two-bedroom apartments currently stands at $1,138.0.

March Prices: Milwaukee vs. Surrounding Areas

Rent Prices in Milwaukee and Surrounding Areas

Rent prices have decreased in Milwaukee over the last month. But how have the surrounding areas fared when it comes to the recent volatility in apartment prices? Rent prices in 3 of the Milwaukee suburbs increased last month. On the other hand, 3 local areas experienced a decrease in the price of a one-bedroom apartment.

More key findings include:

  • Rent increased in Waukesha, WI, Wauwatosa, WI, Shorewood, WI .

  • Rent decreased in Brookfield, WI, Menomonee Falls, WI, Oak Creek, WI.

  • 5 suburbs are currently priced higher than the city of Milwaukee.

  • 1 suburb is currently priced lower than the city of Milwaukee.

March 2023 Pricing Trends: Milwaukee vs. National Comparisons

Milwaukee Rent Prices More Affordable Than Major Cities

Rent growth in Milwaukee over the past year has been declining. When compared to major cities nearby, along with some of the most expensive cities in the country, Milwaukee average rent prices appear to be relatively affordable for local residents.

The price for a Milwaukee one-bedroom apartment remains vastly more affordable than four of the largest cities in the United States — New York City, Washington, D.C. San Francisco and Los Angeles. And pricing compares quite similarly to nearby Midwest cities.

For more information about Milwaukee and surrounding area rent prices, take a look at the complete data set below.

Data set for Milwaukee and suburbs

1 BR March 1 BR M/M % Change 2 BR March 2 BR M/M % Change
Milwaukee, WI $1,190.0 -3.49% $1,185.0 -3.66%
Waukesha, WI $1,306.0 1.63% $1,758.0 3.72%
Wauwatosa, WI $1,643.0 1.23% $2,189.0 0.05%
Brookfield, WI $1,484.0 -2.37% $2,006.0 -1.43%
Menomonee Falls, WI $1,300.0 -0.15% $1,616.0 -2.71%
Oak Creek, WI $1,335.0 -1.62% $1,584.0 -2.10%
Shorewood, WI $834.0 2.21% $1,395.0 0.00%

Methodology

Each month, using over 1 million Rentable listings across the United States, we calculate the median 1-bedroom and 2-bedroom rent prices by city, state, and nation, and track the month-over-month percent change. To avoid small sample sizes, we restrict the analysis for our reports to cities meeting minimum population and property count thresholds.