Cheap Apartments for Rent in the Downtown Milwaukee Neighborhood of Milwaukee, WI from $400 (376 Rentals)

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Search the lowest-cost Apartments available for rent right now in the Downtown Milwaukee 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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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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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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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 8

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 3 Beds unit found at The Park at 1824 Student Apartments priced from $615. Westown Green has the second lowest priced unit, which is a 4 Beds apartment currently listed from $678. Here are the most affordable Downtown Milwaukee apartments for rent in Milwaukee, WI:

Apartment ListingModel NameBed/BathPriced From
The Park at 1824 Student ApartmentsRenovated 3 Bedroom Apartment3BR,2BA$615
Westown Green4BR 2BA The Stormer4BR,2BA$678
Lakeside ApartmentsStudioStudio,1BA$695
Fairmount ApartmentsEfficiencyStudio,1BA$695
The Astor Hotel ApartmentsEfficiency StudioStudio,1BA$700
Colonial ApartmentsStudio *StandardStudio,1BA$725
St. ClairStudioStudio,1BA$725
Buckingham ApartmentsSmall StudioStudio,1BA$725
Marshall Hall ApartmentsStudioStudio,1BA$750
Maryland Arms ApartmentsStudioStudio,1BA$800

Best Value Apartments for Rent in Downtown Milwaukee, WI

As of April 26, 2026 the best value apartment in the Downtown Milwaukee area is the $1.03 price per square foot Unit 1 Model at 1700 - 1702 N Farwell Ave in the in the Haymarket neighborhood starting from $1,950. The second greatest value Downtown Milwaukee apartment is the 2457 N 1st St Model at 2457 N 1st St, Unit front rear unit starting at $900 with a $0.60 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.
1700 - 1702 N Farwell AveUnit 12BR,1.5BA$1.03
2457 N 1st St, Unit front rear unit2457 N 1st St2BR,1BA$0.60
2000 E Newberry Blvd, Unit Lower2000 E Newberry Blvd3BR,1BA$1.23
1773 N Astor St, Unit lower flat1773 N Astor St3BR,1BA$1.16
101 W Meinecke Ave, Unit 105101 W Meinecke Ave3BR,1BA$1.20
City Hall Square Apartments2BR/1BA Loft **Section 422BR,1BA$1.14
1228 E Brady St, Unit A1228 E Brady St2BR,1BA$1.27
Edgeview ApartmentsTwo Bedroom2BR,1BA$0.88
2407 N 6th St, Unit Rear Lower Unit2407 N 6th St2BR,1BA$1.23
The Park at 1824 Student ApartmentsRenovated 2 Bedroom Apartment2BR,1BA$1.17

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
Downtown Milwaukee, Milwaukee, WI

Ranked #4

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 $800.

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

The cheapest apartment in Downtown Milwaukee is Maryland Arms Apartments which is listed at $850, while the average apartment in Downtown Milwaukee costs $2,800.

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 55 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 $231 which is $2,569 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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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.

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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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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.