Cheap Apartments for Rent in the Alverno Neighborhood of Milwaukee, WI from $500 (67 Rentals)

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Search the lowest-cost Apartments available for rent right now in the Alverno area of Milwaukee.

What Does “Rent Burdened” Mean? How Much Rent Is Too Much

Learn the official definition (spending 30% or more of your gross income on housing) and how to calculate your exact rent-to-income ratio. This guide offers expert tips on factoring in total housing costs (including utilities and fees) and budgeting accurately to avoid unnecessary financial strain.

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Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between

Thinking about getting a co-signer for your rental application? We break down what a co-signer is, the potential benefits, and the serious risks for both parties. Find out if it's the right choice for you.

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Cherokee Village
1 to 2 Bedroom Apartments

Cherokee Village

4058 S 43rd StMilwaukee, WI 53220
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2727 S 13th St
1 to 2 Bedroom Apartments

2727 S 13th St

2727 S 13th StMilwaukee, WI 53215
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Becher Terrace (55+)
1 to 2 Bedroom Apartments

Becher Terrace (55+)

1800 W Becher StMilwaukee, WI 53215
Senior Living
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3235 S 48th St
1 Bedroom Apartments

3235 S 48th St

3235 S 48th StMilwaukee, WI 53219
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Roommate Matching: Finding the Right Fit and Avoiding Pitfalls

When searching for a roommate, follow this list of essential steps and set clear expectations to create a solid foundation for a harmonious living situation.

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Hamilton Manor
1 to 2 Bedroom Apartments

Hamilton Manor

3700 S 61st StMilwaukee, WI 53220
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Hunters Square
1 to 2 Bedroom Apartments

Hunters Square

3180 W Dakota StMilwaukee, WI 53215
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4138 S 51st St
1 to 2 Bedroom Apartments

4138 S 51st St

4138 S 51st StMilwaukee, WI 53220
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Parkway South
2 Bedroom Apartments

Parkway South

2433-2551 S 43rd StMilwaukee, WI 53219
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3130 S 48th St
1 Bedroom Apartments

3130 S 48th St

3130 S 48th StMilwaukee, WI 53219
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3073 W Ruskin Ct
2 Bedroom Apartments

3073 W Ruskin Ct

3073 W Ruskin CtMilwaukee, WI 53215
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Forrest Park
2 Bedroom Apartments

Forrest Park

3741 S 61st StMilwaukee, WI 53220
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6500 W Howard Avenue
2 Bedroom Apartments

6500 W Howard Avenue

6500 W Howard AveMilwaukee, WI 53220
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A Local Expert's Guide to Milwaukee: Neighborhoods, Traditions, and the Cozy Spirit of Gemütlichkeit

Uncover Milwaukee's affordable, vibrant neighborhoods and down-to-earth charm. Get a local expert's take on the city's renaissance, favorite traditions, and famous Gemütlichkeit (cozy spirit).

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5821 W Lincoln Ave
1 Bedroom Apartments

5821 W Lincoln Ave

5821 W Lincoln AveMilwaukee, WI 53219
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Barrington Apartments
2 Bedroom Apartments

Barrington Apartments

4635 S 20th StMilwaukee, WI 53221
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Cleveland Terrace
3 Bedroom Apartments

Cleveland Terrace

2733 S 14th StMilwaukee, WI 53215
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4912 W Oklahoma Ave
2 Bedroom Apartments

4912 W Oklahoma Ave

4912 W Oklahoma AveMilwaukee, WI 53219
Corporate Housing
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The Art of the Rental Viewing: What to look for during a property tour

Touring a rental? This guide helps you know exactly what to look for, from safety features to hidden flaws, so you can confidently sign your lease or keep searching.

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Showing Results 1-50, Page 1 of 2

Alverno, Milwaukee, WI Local Guide

Cheapest Available Alverno Apartments for Rent

 

The cheapest available apartment rental in the Alverno area of Milwaukee, WI is a 1 Bed unit found at Forest Arms Apartments priced from $925. Greenfield Village has the second lowest priced unit, which is a 2 Beds apartment currently listed from $985. Here are the most affordable Alverno apartments for rent in Milwaukee, WI:

Apartment ListingModel NameBed/BathPriced From
Forest Arms ApartmentsOne Bedroom1BR,1BA$925
Greenfield Village2 BD 1 Bathroom2BR,1BA$985
Loomis HillsArlington1BR,1BA$1,061
Oklahoma GardensJuniper1BR,1BA$1,070
Layton GroveWillow1BR,1BA$1,071
51st Street 8 Families2BR/1.0BA2BR,1BA$1,095
SouthgateAlcove1BR,1BA$1,104
Alverno Pool Apartments1B1B1BR,1BA$1,110
Heritage Lake Senior Apartments 55+Two Bedroom2BR,2BA$1,130
4454 S 14th St. (12 Unit)2BR/1.0BA2BR,1BA$1,150

Best Value Apartments for Rent in Alverno, WI

As of April 26, 2026 the best value apartment in the Alverno area is the $1.64 price per square foot 2-bedroom - 2G Model at Loomis Crossing Apartments in the in the Far South Side neighborhood starting from $1,995. The second greatest value Alverno apartment is the Two Bedroom One Bath Model at Greenbrook Apartments starting at $1,450 with a $1.53 price per square foot in the Gra-Ram neighborhood. Here is today’s list of the best values for Alverno apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Loomis Crossing Apartments2-bedroom - 2G2BR,2BA$1.64
Greenbrook ApartmentsTwo Bedroom One Bath2BR,1BA$1.53
Heritage Lake Senior Apartments 55+Two Bedroom2BR,2BA$1.22
Willowick Apartments2 Bed 1 Bath Lower2BR,1BA$1.47
Greenfield Village2 BD 1 Bathroom2BR,1BA$1.17
4454 S 14th St. (12 Unit)2BR/1.0BA2BR,1BA$1.43
51st Street 8 Families2BR/1.0BA2BR,1BA$1.37
SouthgateTerrace2BR,1BA$1.64
Alverno Pool Apartments1B1B1BR,1BA$1.59
Forest Arms ApartmentsOne Bedroom1BR,1BA$1.38

10 Hidden Costs of Renting You Should Budget for Before Signing a Lease

Avoid financial stress when renting. Learn about the 10 most common hidden costs—from pet fees to utilities—you must budget for before you sign a lease.

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Don't Settle: How to Negotiate Your Apartment Lease and Save Money

Discover the insider tips from an attorney and real estate agent on how to negotiate your next apartment lease. Find out what's on the table and what's not, so you can save money and get the best terms possible.

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The Ultimate Long-Distance Moving Checklist: Tips from a Real Estate Pro

Moving is tough, especially long-distance. Learn how to minimize stress & expenses with proven strategies from a real estate pro, covering everything from logistics to finances.

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Cash or credit? Understanding the Importance of Credit Score in Real Estate and Renting

Discover how your credit score impacts your ability to lease or buy a home. Learn how credit scores are determined, how to check yours, and strategies to improve it for real estate success.

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Quick Rent Budget Calculator

How much rent can you afford?

The common "Rule of Thumb" is that rent should be no more than 30% of your income. How much is that? Enter your monthly income and click "Calculate My Budget" to find out.

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Pet Friendly Lifestyle
Alverno, Milwaukee, WI

Ranked #165

Among cities in Wisconsin for Apartment listings with Pet Friendly Amenities.

Pet Friendliness Lifestyle Score

4.0
Pet Friendly

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Lifestyle Ratings

ApartmentHomeLiving brings you comprehensive Lifestyle Ratings of rentals in metropolitan areas across the United States and customized analysis for Southern Milwaukee. LifeStyle Ratings are a useful tool for comparing and sorting apartments and neighborhoods when choosing your rental home. This takes in many factors including filtering automatically for proximity to parks, luxury housing options, transit availability, pet-friendly communities, features that make it easier to raise kids, and much more. These search options are in the site filters at the top of this page.

Frequently Asked Questions about Cheap Alverno Apartments

How much is rent for a Cheap One Bedroom Alverno Apartment?

The lowest price for a Cheap One Bedroom Alverno Apartment is $925 at Forest Arms Apartments.

What is the lowest price for a Cheap Two Bedroom Alverno Apartment for rent?

Today's best deal for a Cheap Two Bedroom Apartment in Alverno is starting from $985 at Greenfield Village.

Expert Rental Resources

The rental experts at ApartmentHomeLiving.com provide you with top advice, tools, and tips for understanding the leasing process and finding the perfect rental. Here are a few helpful rental and leasing articles from our experts to guide you on your search.

Helpful Local Expert Guides

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Finding The Best Affordable Milwaukee Neighborhoods to Rent

Written by: Tim Brown

I'm Tim, your ApartmentHomeLiving.com Local Expert for Milwaukee, Wisconsin. Growing up in the city and then just blocks outside the border, many Milwaukee neighborhoods have been home to friends and family for many years.

decorative image for The Top Neighborhoods for Off-Campus Housing for Milwaukee-Area College Students article

The Top Neighborhoods for Off-Campus Housing for Milwaukee-Area College Students

Written by: Tim Brown

I'm Tim, your ApartmentHomeLiving.com Local Expert for Milwaukee, Wisconsin. Growing up in the city and then blocks outside the border, many of the Milwaukee neighborhoods profiled here have been home to friends and family.

decorative image for A Local Experts Guide to Milwaukee: Neighborhoods, Traditions, and the Cozy Spirit of Gemütlichkeit article

A Local Experts Guide to Milwaukee: Neighborhoods, Traditions, and the Cozy Spirit of Gemütlichkeit

Written by: Tim Brown

I'm Tim, your ApartmentHomeLiving.com Local Expert for Milwaukee, Wisconsin. Growing up in the city and then blocks outside the border, Milwaukee's neighborhoods have been home to friends and family for years.

Articles, How-To's, and Tips

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Expert Solutions for Creating the Perfect Work-From-Home Apartment Layouts

Written by: Lauren Harrington

This article is based on first-hand experience managing apartment communities and helping renters adapt to their spaces after moving in.

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What Does “Rent Burdened” Mean? How Much Rent Is Too Much

Written by: Lauren Harrington

This article draws from first-hand renter experiences and recurring financial challenges reported after moving in.

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Maximizing Your Refund: Essential Tax Tips for Renters

Written by: Christine Leonard, Esq.

Other than tax professionals, I can’t think of anyone who looks forward to tax season. For everybody else, April is a stressful month to collect information and meet deadlines.

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18 Must-Ask Rental Tour Questions That Reveal the Truth about a Property

Written by: Lauren Harrington

Renting your next home can feel thrilling and overwhelming at the same time.