Cheap Apartments for Rent in Oconomowoc, WI from $500 (23 Rentals)

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Search the lowest-cost Apartments available for rent right now in Oconomowoc.

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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Edgewater Apartments
Studio to 2 Bedroom Apartments

Edgewater Apartments

231 N Fowler StOconomowoc, WI 53066
  • Utilities Included

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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Showing Results 1-23, Page 1 of 1

Oconomowoc, WI Local Guide

Cheapest Neighborhoods for Apartments in Oconomowoc, WI

Pricing Updated: 05/08/2026

Current apartment rentals in the Oconomowoc, WI area range in price from to with an overall median price of . Here is today’s list neighborhoods with the lowest median pricing for Oconomowoc Apartments for rent:

NeighborhoodMedian PriceMin PriceAvailable Units
Weston Meadows$1,454$51924
Hickorywood Farms$4,700$51933

Cheapest Available Oconomowoc Apartments for Rent and Nearby

 

The cheapest available apartment rental in Oconomowoc, WI is a 1 Bed unit found at Morningside Orchard Apartments in the Hickorywood Farms neighborhood priced from $1,000. The Preserve at Prairie Creek in the Hickorywood Farms neighborhood has the second lowest priced unit, which is a Studio apartment currently listed from $1,252. Here is today’s list of the most affordable Oconomowoc apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Morningside Orchard Apartments1 Bedroom Apartment (Upper)1BR,1BA$1,000
The Preserve at Prairie CreekStandardStudio,1BA$1,252
Berkshire Oconomowoc Senior ApartmentsUnit H2BR,1BA$1,458
Whitman Place ApartmentsTwo Bedroom Deluxe2BR,2BA$1,595
Lake Country Village ApartmentsRemodeled 2B2B Loft2BR,2BA$1,875

Best Value Apartments for Rent in Oconomowoc, WI and Nearby

As of May 09, 2026 the best value apartment in the Oconomowoc area is the $2.20 price per square foot THA Model at Hackney House Apartments in the in the Hickorywood Farms neighborhood starting from $3,442. The second greatest value Oconomowoc apartment is the Phase One - 3 Bedroom, 2 Bathroom with Garage Model at The Locklyn starting at $2,701 with a $2.00 price per square foot in the Hickorywood Farms neighborhood. Here is today’s list of the best values for Oconomowoc apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Hackney House ApartmentsTHA2BR,2.5BA$2.20
The LocklynPhase One - 3 Bedroom, 2 Bathroom with Garage3BR,2BA$2.00
Norden Range ApartmentsB1-G2BR,2BA$2.00
Whitman Place ApartmentsTwo Bedroom Deluxe2BR,2BA$1.39
853 Thackeray Trl, Unit Townhome853 Thackeray Trl2BR,1.5BA$1.70
THE GATEWAY2 Bedrooms 2 Bathrooms Collins2BR,2BA$1.82
Lake Country Village ApartmentsRemodeled 2B2B Townhouse2BR,2BA$1.98
Morningside Orchard ApartmentsFurnished 2 Bedroom Apartment (Upper)2BR,1BA$2.78
Berkshire Oconomowoc Senior ApartmentsUnit H2BR,1BA$1.65
The Preserve at Prairie CreekStandardStudio ,1BA$2.43

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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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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Oconomowoc, WI

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Frequently Asked Questions about Cheap Oconomowoc Apartments

What is the price of a cheap apartment in Oconomowoc?

The cheapest apartment in Oconomowoc is Morningside Orchard Apartments which is listed at $1,000, while the average apartment in Oconomowoc costs $3,077.

What types of apartments are the cheapest in Oconomowoc?

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 8 regular apartments in Oconomowoc 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 Oconomowoc?

Cheap apartments in Oconomowoc have an average cost of $431 which is $2,646 cheaper than the average rent for all rentals in Oconomowoc.

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.

Articles, How-To's, and Tips

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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.

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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.