Apartments Under $500 in Milwaukee, WI

Apartments Under $500 in Milwaukee, WI: December Rental Information

Welcome to the December 2025 Milwaukee Apartment Report. In this assessment of the local rental market, Rentable data scientists and rental experts break down the December 2025 key findings and figures for the Milwaukee rental landscape.

Our experts analyze the inventory trends for apartments under $500 - overall market rent-distribution, availability by bedroom count, and month-over-month comparisons - in Milwaukee and surrounding areas. This summary also provides insight into available features and amenities, as well as location options for apartments under $500 in Milwaukee.

With this comprehensive report, prospective renters in Milwaukee can gain valuable knowledge about the current rental market and make informed decisions about their apartment search. Whether you're looking for a studio or one-bedroom apartment, this report will provide you with the most up-to-date information on rent prices and availability in the area.

This month, the typical cost to rent a one-bedroom apartment in Milwaukee stands at $1,160, with the majority falling between $610 and $2,380. Out of the 4,562 one-bedroom apartments currently on the market in Milwaukee, 24 are priced below $500, accounting for 1% of the total available one-bedroom units in Milwaukee.

Available Apartments Under $500: Milwaukee vs. Surrounding Areas

Milwaukee, WI

Wauwatosa, WI

Waukesha, WI

Brookfield, WI

In December 2025, Rentable's apartment search in Milwaukee, WI and surrounding areas offers a range of affordable housing options. This chart displays the number of available apartments under $500 in Milwaukee, WI and its nearby cities, including West Allis, Shorewood, Slinger, Pewaukee, Elm Grove, South Milwaukee, Whitefish Bay, Jackson, Menomonee Falls, Cedarburg, Mequon, Port Washington, Chenequa, Fox Point, Franklin, Sussex, Mukwonago, Bayside, Germantown, Muskego, Glendale, Cudahy, New Berlin, Grafton, Greendale, Greenfield, Delafield, North Prairie, St Francis, Oak Creek, Wales, Oconomowoc, Saukville, Hartford, Hartland, Eagle, Waukesha, East Troy, Brookfield, Brown Deer, Wauwatosa, Friesse Lake, Waterford, Hales Corners, and Dousman. With a total inventory of 86 apartments in the metro area, renters in search of budget-friendly living have a variety of choices to explore. Whether you are a student, professional or a small family, Rentable can help you find an affordable apartment in and around Milwaukee that fits your needs and budget.

Apartments Under $500 Now vs. Last Month: Milwaukee and Surrounding Areas

City	Apartments Under $500 in December	M/M % Change
Milwaukee, WI	54	+1.03%
Wauwatosa, WI	9	+1.02%
Waukesha, WI	4	+1.0%
Brookfield, WI	3	+0.88%
Hartland, WI	3	+0.85%
Mequon, WI	2	+1.0%
Cudahy, WI	2	+1.08%
Port Washington, WI	2	+1.08%
New Berlin, WI	2	+0.87%
Jackson, WI	1	+1.0%

Looking for Apartments Under $500 in Milwaukee?

Available apartments under $500	616
Top amenities	Air Conditioning, On Site Laundry, Refrigerator, Range / Oven, Off Street Parking
Deals	31
Pet friendly	59
Utilities included	36
Furnished	7
Studio	14
1 Bedroom	47
2 Bedroom	33
Square footage	350 - 1,225

Where are Milwaukee Apartments Under $500?

Top Neighborhoods	Concordia, Lower east side, Avenues west, Northpoint, Murray hill
Concordia	11
Lower East Side	3
Avenues West	3
Northpoint	2
Murray Hill	2

Apartments Under $500 in Milwaukee, WI

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

How many studio apartments under $500 are available in Milwaukee?

How many one-bedroom apartments under $500 are available in Milwaukee?

How many two-bedroom apartments under $500 are available in Milwaukee?

Can I afford a apartment under $500 in Milwaukee, WI?

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