Cheap Apartments for Rent in Waukesha, WI from $500 (99 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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property at 467 Baird St

$1,200

Total Monthly Price

Total Monthly Price

Base Rent
$1,200
Total Monthly Price
$1,200

2 Bedroom, 1 Bath Home for Rent

Available Jul 1

467 Baird St

WaukeshaWI53189

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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2043 Dixie Dr, Unit 4
$1,495
Total Monthly Price

Total Monthly Price

Base Rent
$1,495
Total Monthly Price
$1,495
2 Bedroom Apartment Available Aug 1

2043 Dixie Dr, Unit 4

2043 Dixie DrWaukesha, WI 53189
Cost Per Sq.Ft.

How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide

Finding the right apartment starts with three things: location, cost, and amenities. Get the insider perspective from a real estate professional on how to nail all three.

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Waukesha, WI Local Guide

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Written By:
Staff Writer
Local Guide Expert

Cheapest Neighborhoods for Apartments in Waukesha, WI

Pricing Updated: 06/12/2026

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$51023
Westmoreland Grove$2,050$51067
Overlook Farms$2,075$85021
Eastern Waukesha$7,226$510745

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 $900. 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 NorthNO VACANTS1BR,1BA$900
Main Street Plaza ApartmentsStudioStudio,1BA$1,000
1710 Elder St. (10 Unit)1/11BR,1BA$1,095
Minooka Parkway EstatesCottonwood2BR,1BA$1,185
Berkshire Sunset1 Bed, 1 bath1BR,1BA$1,200
Hartwell Place ApartmentsOne Bedroom1BR,1BA$1,225
Walnut Grove Apartments2 BD / 1 BA 980 sq ft2BR,1BA$1,231
Monterey ApartmentsOne Bedroom Large1BR,1BA$1,260
Rivers Edge ApartmentsA21BR,1BA$1,280

Best Value Apartments for Rent in Waukesha, WI

As of June 13, 2026 the best value apartment in the Waukesha area is the $1.01 price per square foot Two Bed Two Bath Model at Overlook Townhomes in the in the Spring Hills neighborhood starting from $2,573. The second greatest value Waukesha apartment is the Upper Unit Model at Hawthorne Place Apartments starting at $1,825 with a $1.12 price per square foot in the Five Fields 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.
Overlook TownhomesTwo Bed Two Bath2BR,2BA$1.01
Hawthorne Place ApartmentsUpper Unit3BR,2BA$1.12
Fox River Preserve IITwo Bedroom One Bath - Upper2BR,1BA$1.46
320 S Grand Ave, Unit Student Housing near Carroll University320 S Grand Ave3BR,1BA$1.18
Milestone Properties2/1.52BR,1.5BA$1.29
Quail Pointe Apartment Homes2 Bedroom / 1 Bathroom2BR,1BA$1.14
Walnut Grove Apartments2 BD / 1 BA 980 sq ft2BR,1BA$1.26
Minooka Parkway EstatesCottonwood2BR,1BA$1.25
Kimberly Place Apartments2 BD / 1 BA - 900sf 430Building2BR,1BA$1.43
Monterey ApartmentsOne Bedroom Large1BR,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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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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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:
Location, Location, Location!

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 $1,280.

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 $3,312.

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 80 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 $274 which is $3,038 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.

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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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How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide

Written by: Robin Stewart

Evaluating rental properties for clients draws many parallels to house-hunting. Whether an apartment, loft, townhouse, or other rental, finding the right place means finding “home” for your client.

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Pet-Friendly Renting: Everything You Need to Know Before You Move

Written by: Christine Leonard, Esq.

For so many of us, pets are the best companions and a big part of our lives. For this reason, a pet-friendly house or apartment is often a very important - and nonnegotiable - part of a move.

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Creative Ways Developers Reimagine Retail Spaces as Residential Units

Written by: Robin Stewart

Adaptive reuse is when a commercial property is converted and repurposed. The real estate industry has embraced a growing number of these projects.

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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.