Cheap Apartments for Rent in Waukesha, WI from $558 (104 Rentals)

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

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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Waukesha, WI Local Guide

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Cheapest Neighborhoods for Apartments in Waukesha, WI

Pricing Updated: 09/11/2026

Current apartment rentals in the Waukesha, WI area range in price from $490 to $9,964 with an overall median price of $1,675. Here is today’s list neighborhoods with the lowest median pricing for Waukesha Apartments for rent:

NeighborhoodMedian PriceMin PriceAvailable Units
Downtown Waukesha$1,497$75045
Overlook Farms$1,505$85024
Westmoreland Grove$1,547$70077
Eastern Waukesha$1,700$490859

Cheapest Available Waukesha Apartments for Rent

 

The cheapest available apartment rental in Waukesha, WI is a 1 Bed unit found at Berkshire at Kensington in the Spring Hills neighborhood priced from $622. 316 - 320 Maple Ave 6 Unit in the Spring Hills neighborhood has the second lowest priced unit, which is a Studio apartment currently listed from $875. Here is today’s list of the most affordable Waukesha apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Berkshire at Kensington1 Bedroom A1BR,1BA$622
316 - 320 Maple Ave 6 Unit0BR/1.0BAStudio,1BA$875
Moreland NorthB1BR,1BA$885
Main Street Plaza ApartmentsStudioStudio,1BA$1,000
Springdale ApartmentsB1 - 1x11BR,1BA$1,125
Hartwell Place ApartmentsOne Bedroom1BR,1BA$1,225
Hillside Village Apartments1 Bed/1 Bath1BR,1BA$1,255
Minooka Parkway EstatesWalnut2BR,1BA$1,285
Rivers Edge ApartmentsSStudio,1BA$1,305
West Grove on the Lake1 Bed 1 Bath + Den Grove1BR,1BA$1,380

Best Value Apartments for Rent in Waukesha, WI

As of September 11, 2026 the best value apartment in the Waukesha area is the $1.12 price per square foot Upper Unit Model at Hawthorne Place Apartments in the in the Five Fields neighborhood starting from $1,825. The second greatest value Waukesha apartment is the 1 Bedroom 2 Bath_Loft Model at FOX RIVER PRESERVE starting at $1,810 with a $1.43 price per square foot in the Spring Hills neighborhood. Here is today’s list of the best values for Waukesha apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Hawthorne Place ApartmentsUpper Unit3BR,2BA$1.12
FOX RIVER PRESERVE1 Bedroom 2 Bath_Loft1BR,2BA$1.43
Riverwalk ApartmentsG - Remodel2BR,2BA$1.47
1710 Springdale Rd, Unit 2-3 Bedroom1710 Springdale Rd3BR,1BA$1.25
Milestone Properties2/1.52BR,1.5BA$1.29
Minooka Parkway EstatesWalnut2BR,1BA$1.17
Monterey ApartmentsTwo Bed Two Bath D2BR,2BA$1.46
Burr Oaks Village Apartments2 BD / 1 BA UPPER2BR,1BA$1.44
Moreland NorthB1BR,1BA$1.20
316 - 320 Maple Ave 6 Unit0BR/1.0BAStudio ,1BA$1.46

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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Navigating the Rental Market: Tips for First-Time Renters

Entering the rental market? Learn these simple tips and strategies to avoid common pitfalls and make confident choices. Rent with peace of mind.

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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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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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Waukesha Overview

Waukesha is located along the Fox River and is a part of the Milwaukee Metropolitan area. Waukesha is a great city for people looking for a small town with all the big city amenities. This region serves as the main destination for tourists from different parts of the globe. 

Why live in Waukesha, WI?

Waukesha is strategically located and can be the best home for both middle and high-class. It is a quiet city with a quaint atmosphere and breathtaking landscapes, especially in the autumn. This is a great fit for families, business owners, as well as single people looking to start their lives in a new city. Compared to other cities in the US, Waukesha has luxury apartments situated close to major bars and restaurants to make your life easier. Most apartments are modernized to suit the needs of most city dwellers.

Pet Friendly Lifestyle
Waukesha, WI

Ranked #18

Among cities in Wisconsin for Apartment listings with Pet Friendly Amenities.

Pet Friendliness Lifestyle Score

2.5
Pet Friendly

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Best Local Schools in
Waukesha, WI

School data provided by Great Schools

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

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Waukesha, WI Area Reviews

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Glendaliz • 4+ years in Waukesha

February 25, 2025

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Frequently Asked Questions about Cheap Waukesha Apartments

What is a cheap apartment in Waukesha?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Waukesha is under $1,380.

What is the price of a cheap apartment in Waukesha?

The cheapest apartment in Waukesha is Berkshire at Kensington which is listed at $622, while the average apartment in Waukesha costs $1,675.

What types of apartments are the cheapest in Waukesha?

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 71 regular apartments in Waukesha 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 Waukesha?

Cheap apartments in Waukesha have an average cost of $132 which is $1,543 cheaper than the average rent for all rentals in Waukesha.

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.

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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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Exploring Rental Options: Apartments, Townhomes, and Lofts - Oh My!

Written by: Robin Stewart

Where do you see yourself? When you think of home, sweet home, are you in a 3/2 apartment? Dreaming of a tall townhome? Maybe an industrial loft heavy on cool vibes is on your visioning board.

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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.