Cheap Apartments for Rent in the Lake Park Neighborhood of Milwaukee, WI from $559 (212 Rentals)

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

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

Find income-restricted rentals and housing subsidies. Explore government programs designed to help low-income families secure stable, affordable housing.

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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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Lake Park, Milwaukee, WI Local Guide

Cheapest Available Lake Park Apartments for Rent

 

The cheapest available apartment rental in the Lake Park area of Milwaukee, WI is a Studio unit found at Pleasant Apartments priced from $725. Cumberland Apartments has the second lowest priced unit, which is a Studio apartment currently listed from $725. Here are the most affordable Lake Park apartments for rent in Milwaukee, WI:

Apartment ListingModel NameBed/BathPriced From
Pleasant ApartmentsStudio ApartmentStudio,1BA$725
Cumberland ApartmentsStudioStudio,1BA$725
Buckingham ApartmentsSmall StudioStudio,1BA$725
1417 N. Prospect Avenue1417 StudiosStudio,1BA$795
1517 Royall Pl0BR/1.0BAStudio,1BA$815
Royal Plaza ApartmentsStudioAStudio,1BA$825
Edgeview ApartmentsNo Availability1BR,1BA$825
Sixteen53StudioStudio,1BA$840
The Park at 1824 Student ApartmentsRenovated 3 Bedroom Apartment3BR,2BA$849
The Empire BuildingStudioStudio,1BA$895

Best Value Apartments for Rent in Lake Park, WI

As of August 23, 2026 the best value apartment in the Lake Park 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 Lake Park apartment is the 3BR/1.0BA Model at San Rafael Apartments starting at $1,980 with a $1.19 price per square foot in the Haymarket neighborhood. Here is today’s list of the best values for Lake Park apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Shepard TownhomesTownHome4BR,2.5BA$1.20
San Rafael Apartments3BR/1.0BA3BR,1BA$1.19
The Broadmoor3BR/1.0BA3BR,1BA$1.23
The Shorecrest2 BR / 1 BA2BR,1BA$1.04
Stowell House2BR/1.0BA2BR,1BA$1.30
2030 N. Oakland Ave2BR/1BA2BR,1BA$1.09
Bartlett Hill Apartments2BR/1.0BA2BR,1BA$1.29
Royall Villas2 Bed / 1 Bath2BR,1BA$1.30
RW Apartments I and II2x12BR,1BA$0.99
1851 N Pulaski St, Unit B1851 N Pulaski St1BR,1BA$1.30

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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Quick Rent Budget Calculator

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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
Lake Park, Milwaukee, WI

Ranked #29

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.com compiles millions of data points to bring you comprehensive Lifestyle Ratings of rentals and neighborhoods across the USA, including Lake Park, Milwaukee, and the greater Milwaukee area. Lifestyle Ratings show you the best fit for your needs and interests. This takes in many factors including filtering automatically for outdoor amenities like tennis courts, luxury housing options, transit availability, pet-friendly communities, places to raise kids, and other valuable search options. These search options are in the site filters at the top of this page.

Frequently Asked Questions about Cheap Lake Park Apartments

What is the Cheapest Studio apartment in Lake Park?

Currently the most affordable Cheap Studio Apartment in Lake Park is at Pleasant Apartments listed at $725.

How much is rent for a Cheap One Bedroom Lake Park Apartment?

The lowest price for a Cheap One Bedroom Lake Park Apartment is $775 at Pleasant Apartments.

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

Today's best deal for a Cheap Two Bedroom Apartment in Lake Park is starting from $917 at RW Apartments I and II.

What is the most affordable Lake Park Three Bedroom Apartment?

The best deal on a cheap Lake Park Three Bedroom Apartment rental is at The Park at 1824 Student Apartments and starts from $849.

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

decorative image for An Insider's Guide to Apartment Living Near Milwaukee's Four Employer Clusters article

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.

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

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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Practical Tips for Renters: How to Identify a Great Rental and Avoid Red Flags

Written by: Robin Stewart

Renters want to find a great apartment, the right place for them, one that checks all the boxes of location, rental cost, amenities, safety, and more.

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First Apartment Regrets: Real Renters Share What They'd Do Differently

Written by: Robin Stewart

Hindsight is 20/20. Live and Learn. With age comes wisdom. We’re familiar with all those expressions, and all of them apply to lessons first-time renters learn.

decorative image for Renters Insurance 101: What It Is, What It Covers, and Why You Need It article

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.