Cheap Homes for Rent in Downtown Milwaukee Neighborhood of Milwaukee, WI from $700 (38 Rentals)

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

property at 2640 N Holton St

2640 N Holton St

MilwaukeeWI53212

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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property at 1539 Jackson N St

1539 Jackson N St

MilwaukeeWI53202

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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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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Smart Renter's Guide: Calculating Affordable Rent & Housing Costs

Wondering how to determine your rental budget? This comprehensive guide covers everything from the 30% rule to hidden fees and effective budgeting strategies.

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property at 516 W Vine St

516 W Vine St

MilwaukeeWI53212
Showing Results 1-38, Page 1 of 1

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 2 Beds unit found at MLK Library Apartments priced from $667. Edgewater East has the second lowest priced unit, which is a 1 Bed apartment currently listed from $680. Here are the most affordable Downtown Milwaukee apartments for rent in Milwaukee, WI:

Apartment ListingModel NameBed/BathPriced From
MLK Library Apartments2x1-V2BR,1BA$667
Edgewater EastOne Bedroom1BR,1BA$680
Buckingham ApartmentsSmall StudioStudio,1BA$695
Fairmount ApartmentsEfficiencyStudio,1BA$695
The Astor Hotel ApartmentsEfficiency StudioStudio,1BA$700
Colonial ApartmentsStudio *StandardStudio,1BA$725
Maryland Arms ApartmentsStudioStudio,1BA$750
Brewer's HillStudioStudio,1BA$775
1417 N. Prospect Avenue1417 StudiosStudio,1BA$775
Edgeview ApartmentsNo Availability1BR,1BA$825

Best Value Apartments for Rent in Downtown Milwaukee, WI

As of July 30, 2025 the best value apartment in the Downtown Milwaukee area is the $1.13 price per square foot 2700 N Prospect Ave Model at 2700 N Prospect Ave, Unit 2700 in the in the Haymarket neighborhood starting from $2,700. The second greatest value Downtown Milwaukee apartment is the 709 E Brady St Model at 709 E Brady St, Unit 1 starting at $1,300 with a $0.72 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.
2700 N Prospect Ave, Unit 27002700 N Prospect Ave4BR,2BA$1.13
709 E Brady St, Unit 1709 E Brady St3BR,1BA$0.72
1712 E Park Pl, Unit 11712 E Park Pl3BR,1BA$1.06
***$1000 OFF FIRST MONTH**2534 N Prospect-...3BR/1.0BA3BR,1BA$1.22
2457 N 1st St, Unit front back2457 N 1st St1BR,1BA$0.60
2819 N Cramer St, Unit Lower2819 N Cramer St3BR,1BA$1.23
Viking2 Bed / 1.5 Bath2BR,1.5BA$1.20
The GermaniaTwo Bedroom2BR,1.5BA$0.92
Oakland Manor2 Bedroom 1 Bath2BR,1BA$1.05
The Park at 1824 Student Apartments2 Bedroom Apartment2BR,1BA$1.11

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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Frequently Asked Questions about Downtown Milwaukee

What type of rentals are currently available in Downtown Milwaukee?

There are currently 915 Apartments for Rent in Downtown Milwaukee, WI with pricing that ranges from $513 to $19,530. There are also 117 Single Family Homes for rent, Condos, and Townhome rentals currently available in Downtown Milwaukee ranging from $750 to $4,900.

What is the current price range for Rental Homes in Downtown Milwaukee?

Today's rental pricing for Homes for Rent, Condos and Townhomes in Downtown Milwaukee ranges from $750 to $4,900 with an average monthly rent of $2,233.

How much are larger Three and Four Bedroom Rentals in Downtown Milwaukee?

For those who are looking for larger living arrangements, Three Bedroom Apartments in Downtown Milwaukee range from $1,180 to $15,000, while Three Bedroom Homes, Condos, and Townhomes for rent range from $1,395 to $3,750. Four Bedroom Single-Family rentals are also available starting from $1,698 and Four Bedroom Apartments start at $1,600.

Expert Rental Resources

Helpful Apartment Articles, How-To's and Tips

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.

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

Written by: Christine Leonard, Esq.

Throughout the day, think about all the times that you have to pay for something. So many of us reach automatically for a credit card or even our phone for a quick payment.

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Roommate Matching: Finding the Right Fit and Avoiding Pitfalls

Written by: Cheryl Bowman

A fantastic way to save money and enjoy a built-in community is to share an apartment. However, a bad roommate situation can turn your dream rental into a nightmare.

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The Art of the Rental Viewing: What to look for during a property tour

Written by: Marie Brown

You’ve scrolled through countless listings, walked through a blur of rentals, and finally found what feels like the one. The pictures? Fantastic. The neighborhood seems just right.