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Apartments for Rent in Milwaukee, WI under $500

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  • Studio $460+
    1 bd $490+
    Base rent
    Verified Listing

    GARDEN PLACE APARTMENTS

    4.0 (1)
    8425 N 107TH ST, MILWAUKEE, WI 53224
    Pet friendly • Parking • Fitness center
  • Studio $445+
    Base rent Income restricted
    Verified Listing

    37th Street School Apartments

    1715 N. 37Th St, Milwaukee, WI 53208
    Pet friendly • Fitness center • In unit laundry
  • 3-0-city
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Frequently asked questions

When were prices and availability in Milwaukee, WI last updated?

Prices and availability in Milwaukee, WI were last updated on 24 Sep 2026.

What are the best apartments in Milwaukee, WI?

The best apartments in Milwaukee, WI are: Prospect East Apartments, Stitchweld, Vim Vigor Lofts, The Couture and Southgate.

What type of rental buildings are in Milwaukee, WI?

In Milwaukee, 58% of the residents are renting compared to 42% owning a home, according to data from the U.S. Census Bureau. Large-scale apartment buildings with more than 50 units represent 16% of Milwaukee's rentals, 67% are small-scale complexes with under 50 units, and 17% are single-family rentals.

Renting apartments in Milwaukee, WI under $500

Searching for apartments for rent in Milwaukee, WI under $500 is not an easy task, but luckily you have come to the right place. Whether you are a student on a budget, a young professional on the move, or simply a frugal person, RentCafe can help you find what you are looking for. Just make sure you know what you consider non-negotiable and what you can compromise on. Your new home is just a few clicks away.

We’ll help you find the cheapest rental near you

Finding a nice cheap apartment is by no means impossible. You just have to be patient. Your “apartments near me under $500” search can bear fruit sooner than you think if you look carefully and check our site often. You never know when discount deals and special offers might pop up. Keep in mind that you are not the only one looking for an affordable apartment in Milwaukee, WI. Choose “Save Search” to receive the latest apartments available directly to your inbox. This way, you will be able to stay one step ahead of the competition. With the cheapest apartments in Milwaukee, WI going for $445 per month, there are great deals waiting to be discovered. Feeling lucky? Expand your search to 2 bedroom apartments and 3 bedroom apartments as well for more space.