Cheap Apartments for Rent in the Downtown Milwaukee Neighborhood of Milwaukee, WI from $500 (345 Rentals)

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

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Discover Milwaukee apartment living from Downtown lofts to affordable suburban homes. We detail neighborhoods near the four major employment hubs: urban, leafy, and everything in between.

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2582 N Cramer St
$800 - $1,300
Total Monthly Price

Total Monthly Price

Base Rent
$800 - $1,300
Total Monthly Price
$800 - $1,300
Studio to 1 Bedroom Apartment Available Now

2582 N Cramer St

2582 N Cramer StMilwaukee, WI 53211
Affordability

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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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Check Out Milwaukee’s Best Affordable Neighborhoods

Learn about Milwaukee and the best places to live with original content written by our Local Expert Tim Brown

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Renters Insurance 101: What It Is, What It Covers, and Why You Need It

From theft to fire to water damage, the unexpected can happen to any renter. Discover why renters insurance is one of the smartest and most affordable investments you can make as a tenant.

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Downtown Milwaukee, Milwaukee, WI Local Guide

Cheapest Available Downtown Milwaukee Apartments for Rent

 

The cheapest available apartment rental in the Downtown Milwaukee area of Milwaukee, WI is a 1 Bed unit found at MLK Library Apartments priced from $560. Fairmount Apartments has the second lowest priced unit, which is a Studio apartment currently listed from $675. Here are the most affordable Downtown Milwaukee apartments for rent in Milwaukee, WI:

Apartment ListingModel NameBed/BathPriced From
MLK Library Apartments1x11BR,1BA$560
Fairmount ApartmentsEfficiencyStudio,1BA$675
Lakeside ApartmentsStudioStudio,1BA$695
The Astor Hotel ApartmentsEfficiency StudioStudio,1BA$700
Buckingham ApartmentsSmall StudioStudio,1BA$725
Colonial ApartmentsStudio *StandardStudio,1BA$725
Van Buren ApartmentsStudioStudio,1BA$795
Marshall Hall ApartmentsStudioStudio,1BA$795
1417 N. Prospect Avenue1417 StudiosStudio,1BA$795

Best Value Apartments for Rent in Downtown Milwaukee, WI

As of July 28, 2026 the best value apartment in the Downtown Milwaukee area is the $1.20 price per square foot TownHome Model at Shepard Townhomes in the in the Downtown Milwaukee neighborhood starting from $3,295. The second greatest value Downtown Milwaukee apartment is the 912 W Hadley St Model at 912 W Hadley St, Unit 1 starting at $1,250 with a $0.56 price per square foot in the Haymarket neighborhood. Here is today’s list of the best values for Downtown Milwaukee apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Shepard TownhomesTownHome4BR,2.5BA$1.20
912 W Hadley St, Unit 1912 W Hadley St3BR,1BA$0.56
2738 N Murray Ave, Unit 27382738 N Murray Ave3BR,1BA$0.92
San Rafael Apartments3BR/1.0BA3BR,1BA$1.19
2457 N 1st St, Unit front upper unit 24572457 N 1st St2BR,1BA$0.60
The GermaniaTwo Bedroom2BR,1.5BA$1.13
The Park at 1824 Student ApartmentsRenovated 3 Bedroom Apartment3BR,2BA$0.95
2407 N 6th St, Unit Rear Lower Unit2407 N 6th St2BR,1BA$1.11
MLK Library Apartments1x11BR,1BA$0.71
Garage - 3035 N Downer Ave, Unit UWM - Garage spotGarage - 3035 N Downer AveStudio ,0.5BA$1.00

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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Real Estate and Rental Term Glossary | ApartmentHomeLiving.com Renter University

From the letter A all the way to the letter Z, the Real Estate and Rental Term Glossary from the content team at ApartmentHomeLiving.com provides our visitors and shoppers with a little clarity and helpful guidance in navigating the real estate world through definitions and explainers for the top subjects and terms that someone may come across during the leasing, buying, or selling process.

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Pet Friendly Lifestyle
Downtown Milwaukee, Milwaukee, WI

Ranked #6

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

Pet Friendliness Lifestyle Score

4.0
Pet Friendly

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Best Local Schools in
Downtown Milwaukee, Milwaukee, WI

School data provided by Great Schools

Lifestyle Ratings

ApartmentHomeLiving brings you our detailed rental analysis called 'Lifestyle Ratings' - a comparison of rentals in metropolitan areas across the United States, including 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 searching for the best amenities, and outdoor amenities like tennis courts, kid and pet-friendly communities, availability of transit options, and much more. These search options are in the site filters at the top of this page.

Frequently Asked Questions about Cheap Downtown Milwaukee Apartments

What is a cheap apartment in Downtown Milwaukee?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Downtown Milwaukee is under $795.

What is the price of a cheap apartment in Downtown Milwaukee?

The cheapest apartment in Downtown Milwaukee is MLK Library Apartments which is listed at $560, while the average apartment in Downtown Milwaukee costs $2,356.

What types of apartments are the cheapest in Downtown Milwaukee?

Student, low-income, and by-the-bed apartments are typically the cheapest rentals in most cities, though they require qualifying criteria to rent. There are 12 regular apartments in Downtown Milwaukee that we think qualify as ‘cheap apartments’ that do not have special requirements to apply to rent.

How do the prices of cheap apartments compare to the average apartment in Downtown Milwaukee?

Cheap apartments in Downtown Milwaukee have an average cost of $268 which is $2,088 cheaper than the average rent for all rentals in Downtown Milwaukee.

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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An Insider's Guide to Apartment Living Near Milwaukee's Four Employer Clusters

Written by: Tim Brown

Having grown up in Milwaukee and lived in Waukesha for several years, I have come to realize that the Milwaukee metro area offers diverse employment and housing opportunities.

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A Local Expert's 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.

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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.

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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.

Articles, How-To's, and Tips

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Rent According to Income: A Look at Income-Restricted Rentals

Written by: Robin Stewart

The idea of affordable housing can be subjective. Every individual is in a different place financially and vocationally. What one may easily afford could be a struggle for someone else.

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Renters Insurance 101: What It Is, What It Covers, and Why You Need It

Written by: Robin Stewart

Insurance seems to be a part of life. In some states, having insurance is the law, as is the case for automobile insurance. Renters are no exception.

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Apartment Occupancy Rates: Renter Attraction vs Renter Retention

Written by: Robin Stewart

There’s a tenet in marketing about client or customer attraction and retention. Studies and data have consistently shown it costs less to keep a current customer than to attract a new one.

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How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide

Written by: Robin Stewart

Evaluating rental properties for clients draws many parallels to house-hunting. Whether an apartment, loft, townhouse, or other rental, finding the right place means finding “home” for your client.