Cheap Homes for Rent in Milwaukee, WI from $500 (145 Rentals)

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

property at 2956 N Prospect Ave

$500

Total Monthly Price

Total Monthly Price

Base Rent
$500
Total Monthly Price
$500

1 Bedroom, 1 Bath Townhome for Rent

Available Aug 1

2956 N Prospect Ave

MilwaukeeWI53211

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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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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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 2436 N 1st St

$950

Total Monthly Price

Total Monthly Price

Base Rent
$950
Total Monthly Price
$950

1 Bedroom, 1 Bath Condo for Rent

Available Now

2436 N 1st St, Unit A

2436 N 1st St
MilwaukeeWI53212
property at 2438 N 1st St

$950

Total Monthly Price

Total Monthly Price

Base Rent
$950
Total Monthly Price
$950

1 Bedroom, 1 Bath Townhome for Rent

Available Now

2438 N 1st St

MilwaukeeWI53212

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

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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Milwaukee, WI Local Guide

Cheapest Neighborhoods for Apartments in Milwaukee, WI

Pricing Updated: 06/03/2026

Current apartment rentals in the Milwaukee, WI area range in price from $479 to $15,000 with an overall median price of $2,620. The three Milwaukee neighborhoods with the lowest median rent pricing are Concordia at $565, Saint Joseph at $950, and Enderis Park at $895. Here is today’s list of the top 10 neighborhoods with the lowest median pricing for Milwaukee Apartments for rent:

NeighborhoodMedian PriceMin PriceAvailable Units
Concordia$1,075$5655
Saint Joseph$1,098$9503
Enderis Park$1,200$8953
Far North Side$1,289$60814
Hilltop Parish$1,350$74035
Northridge$1,350$74035
North Granville$1,379$75721
General Mitchell International Airport$1,382$94941
Dineen Park$1,400$67541
Franklin Heights$1,400$56093

Cheapest Available Milwaukee Apartments for Rent

 

The cheapest available apartment rental in Milwaukee, WI is a 1 Bed unit found at GARDEN PLACE APARTMENTS in the River View neighborhood priced from $490. Chapel Garden Apartments in the Near South Side neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $559. Here is today’s list of the most affordable Milwaukee apartments for rent:

Apartment ListingModel NameBed/BathPriced From
GARDEN PLACE APARTMENTS1 BED 1 BATH1BR,1BA$490
Chapel Garden ApartmentsLifestyle: Senior - 1 BR1BR,1BA$559
CorlissSteamline - 40% AMI2BR,2BA$659
University Crossing IStudioStudio,1BA$685
1315 CassFront EfficiencyStudio,1BA$695
Fairmount ApartmentsEfficiencyStudio,1BA$695
2214-2220 W Hopkins St. (8 Unit)1BR/1.0BA1BR,1BA$695
4226 W. Highland Blvd. - 8 Unit0BR/1.0BAStudio,1BA$695
Lakeside ApartmentsStudioStudio,1BA$695
McGuire FlatsStudioStudio,1BA$695

Best Value Apartments for Rent in Milwaukee, WI

As of June 03, 2026 the best value apartment in the Milwaukee area is the $0.56 price per square foot 912 W Hadley St Model at 912 W Hadley St, Unit 1 in the in the Haymarket neighborhood starting from $1,250. The second greatest value 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 Milwaukee apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
912 W Hadley St, Unit 1912 W Hadley St2BR,1BA$0.56
2457 N 1st St, Unit front rear unit2457 N 1st St2BR,1BA$0.60
2955 N 66th St, Unit 2012955 N 66th St2BR,1BA$0.73
6011 W Lapham St, Unit upper6011 W Lapham St3BR,1BA$0.93
University Row3 Bed 1 Bath3BR,1BA$0.87
2542-2544 N 51st St, Unit 2542 N 51st St2542-2544 N 51st St4BR,1BA$0.98
Columbia Square2 bedroom2BR,2BA$0.84
Rivercourt Apartments2 BR/1 BA2BR,1BA$0.95
Edgeview ApartmentsTwo Bedroom2BR,1BA$0.88
GARDEN PLACE APARTMENTS1 BED 1 BATH1BR,1BA$0.60

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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Remember the 3 Rules of Real Estate:
Location, Location, Location!

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Frequently Asked Questions about Milwaukee

What type of rentals are currently available in Milwaukee?

There are currently 3743 Apartments for Rent in Milwaukee, WI with pricing that ranges from $486 to $15,000. There are also 388 Single Family Homes for rent, Condos, and Townhome rentals currently available in Milwaukee ranging from $500 to $5,495.

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

Today's rental pricing for Homes for Rent, Condos and Townhomes in Milwaukee ranges from $500 to $5,495 with an average monthly rent of $1,966.

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

For those who are looking for larger living arrangements, Three Bedroom Apartments in Milwaukee range from $699 to $15,000, while Three Bedroom Homes, Condos, and Townhomes for rent range from $925 to $3,800. Four Bedroom Single-Family rentals are also available starting from $975 and Four Bedroom Apartments start at $750.

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.

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An Insiders 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.

Articles, How-To's, and Tips

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Neighborhood and Market Insights: How to Choose the Right Area to Rent

Written by: Robin Stewart

Apartment-hunting can be a gargantuan task. Renters have a wish list of items—some luxuries, some necessities—but finding what you seek in the right place is perhaps the most important part of the journey.

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A Seasoned Property Manager's Step-by-Step Guide to Getting Your Deposit Back

Written by: Lauren Harrington

I’m going to talk with you as a seasoned property manager and friend. So, let’s start with your security deposit. I want you to think about this guide as insider information. You deserve your deposit back.

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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.

decorative image for What Does “Rent Burdened” Mean? How Much Rent Is Too Much article

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.