Murray Hill’s small town feel stands in stark contrast to its close position to downtown amenities, but that is the very thing that makes it wonderful. It has the walkability of an urban area, with the comfort and clean quality of life associated with small town living. If you’re a nature lover, enjoy the beautiful Lake Park and Riverside Park. There are many restaurants and shops for residents and visitors alike to enjoy throughout the neighborhood. Part of University of Wisconsin even falls within this neighborhood’s boundaries, making it a fantastic option for students.
If you're not sure how much an apartment will cost, the table below shows the average price by size.
Welcome to the May 2022 Milwaukee Apartment Report. In this assessment of the local rental market, Rentable data scientists and rental experts break down the May 2022 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.
Milwaukee rent prices increased over the last month. From April to May, the city experienced a 1.75% increase for the price of a one-bedroom apartment. The rent price for a Milwaukee one-bedroom apartments currently stands at $990.0.
When we take a look at the two-bedroom comparison from April to May, Milwaukee experienced a 1.14% increase for the price of a two-bedroom apartment. The rent price for a Milwaukee two-bedroom apartments currently stands at $1,237.0.
Rent prices have increased 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 7 of the Milwaukee suburbs increased last month. On the other hand, 0 local areas experienced a decrease in the price of a one-bedroom apartment.
More key findings include:
Rent increased in Brookfield, WI, Wauwatosa, WI, Oak Creek, WI, Waukesha, WI, Menomonee Falls, WI, West Allis, WI, Shorewood, WI .
Rents did not decrease in any of the Milwaukee suburbs.
6 suburbs are currently priced higher than the city of Milwaukee.
1 suburb is currently priced lower than the city of Milwaukee.
Rent growth in Milwaukee over the past year has been on the rise. 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.
You can view the full rundown of Rentable's May 2022 National Apartment Report and data set here.
For more information about Milwaukee and surrounding area rent prices, take a look at the complete data set below.
| 1 BR May | 1 BR M/M % Change | 2 BR May | 2 BR M/M % Change | |
|---|---|---|---|---|
| Milwaukee, WI | $973.0 | 1.35% | $1,223.0 | -0.49% |
| Brookfield, WI | $1,502.0 | 0.74% | $2,202.0 | 0.96% |
| Wauwatosa, WI | $1,496.0 | 0.74% | $1,845.0 | 0.22% |
| Oak Creek, WI | $1,298.0 | 0.54% | $1,763.0 | 0.51% |
| Waukesha, WI | $1,050.0 | 0.77% | $1,246.0 | 0.89% |
| Menomonee Falls, WI | $1,293.0 | 0.08% | $1,590.0 | 1.02% |
| West Allis, WI | $985.0 | 0.10% | $1,370.0 | 3.47% |
| Shorewood, WI | $1,037.0 | 4.54% | $1,528.0 | -5.74% |
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.