Cheap Apartments for Rent in Waukesha, WI from $500 (91 Rentals)

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

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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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 847 Martin St

$1,250 - $1,350

1 Bedroom Rentals

Available Now

847 Martin St

WaukeshaWI53186

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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327 Arlington St
Studio to 1 Bedroom Apartments

327 Arlington St

327 Arlington StWaukesha, WI 53186

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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Waukesha, WI Local Guide

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Written By:
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Local Guide Expert

Cheapest Neighborhoods for Apartments in Waukesha, WI

Pricing Updated: 04/28/2026

Current apartment rentals in the Waukesha, 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 Waukesha Apartments for rent:

NeighborhoodMedian PriceMin PriceAvailable Units
Downtown Waukesha$1,900$62331
Overlook Farms$1,987$62316
Westmoreland Grove$2,037$62367
Eastern Waukesha$2,400$490836

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. Moreland North in the Spring Hills neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $885. 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
Moreland NorthB1BR,1BA$885
343 W Newhall Ave. (8 Unit)1BR/1.0BA1BR,1BA$950
Spring City Crossing1 BD1BR,1BA$963
Main Street Plaza ApartmentsStudioStudio,1BA$1,000
405 N East Ave. (16 Unit)1BR/1.0BA1BR,1BA$1,045
Berkshire Sunset1 Bed, 1 bath1BR,1BA$1,062
1710 Elder St. (10 Unit)1/11BR,1BA$1,095
Minooka Parkway EstatesCottonwood2BR,1BA$1,185
Hartwell Place ApartmentsOne Bedroom1BR,1BA$1,225

Best Value Apartments for Rent in Waukesha, WI

As of April 28, 2026 the best value apartment in the Waukesha area is the $1.40 price per square foot 2 BD / 2 BA Interior Upper Model at Whispering Ponds Apartments in the in the Spring Hills neighborhood starting from $1,787. The second greatest value Waukesha apartment is the 2/1.5 Model at Milestone Properties starting at $1,550 with a $1.29 price per square foot in the Pebble Valley 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.
Whispering Ponds Apartments2 BD / 2 BA Interior Upper2BR,2BA$1.40
Milestone Properties2/1.52BR,1.5BA$1.29
148 Frame Ave, Unit 148148 Frame Ave2BR,1BA$1.50
2051 Cliff Alex Ct S, Unit Unit 32051 Cliff Alex Ct S2BR,2BA$1.50
Woodfield Heights ApartmentsStyle AA2BR,2BA$1.52
Minooka Parkway EstatesCottonwood2BR,1BA$1.25
Berkshire at Kensington2 Bedroom A2BR,1BA$1.36
Moreland NorthB1BR,1BA$1.20
Berkshire Sunset1 Bed, 1 bath1BR,1BA$1.47
Spring City Crossing1 BD1BR,1BA$1.37

10 Hidden Costs of Renting You Should Budget for Before Signing a Lease

Avoid financial stress when renting. Learn about the 10 most common hidden costs—from pet fees to utilities—you must budget for before you sign a lease.

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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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The Ultimate Long-Distance Moving Checklist: Tips from a Real Estate Pro

Moving is tough, especially long-distance. Learn how to minimize stress & expenses with proven strategies from a real estate pro, covering everything from logistics to finances.

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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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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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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 #16

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:
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Explore Waukesha, WI Rentals by Map

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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 $1,225.

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 $2,081.

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 98 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 $143 which is $1,938 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

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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.

Articles, How-To's, and Tips

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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.

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18 Must-Ask Rental Tour Questions That Reveal the Truth about a Property

Written by: Lauren Harrington

Renting your next home can feel thrilling and overwhelming at the same time.