Average Rent in Milwaukee, WI

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Current Versus Historical Milwaukee, WI Rents

Milwaukee rentals average $730 for a studio rental to $1,863 for a 4-bedroom rental. The median price of all currently available listings is $999, or roughly $1 per square feet.
For the apartment units and housing in March 2024, median rents have fallen substantiallyover the last year. Studio rentals prices have decreased by $47 (-6.17%) year-over-year from $757 to $710. 1-bedroom rentals prices have decreased by $162 (-14.88%) year-over-year from $1,087 to $925. 2-bedroom rentals prices have increased by $65 (6.44%) year-over-year from $1,015 to $1,080. 3-bedroom rentals prices have increased by $158 (12.50%) year-over-year from $1,267 to $1,425. 4-bedroom rentals prices have increased by $310 (19.68%) year-over-year from $1,575 to $1,885. Note that this figure includes all active and rented listings throughout the month.
Month-to-month, seasonality might have a bigger impact than overall trend price changes. Studio rents have gone down by 4.70% this month. 1-bedroom rents have gone down by 21.50% this month. 2-bedroom rents have gone up by 5.54% this month. 3-bedroom rents have gone up by 7.55% this month. 4-bedroom rents have gone up by 5.16% this month.
Beds
Price / Sqft
Mar 2024 Rent 1 Yr Ago Rent (% +/-) 3 Yr Ago Rent (% +/-)
Studio $1.72 $710 $757 (-6.17%) $904 (-21.46%)
1 BR $1.83 $925 $1,087 (-14.88%) $1,073 (-13.81%)
2 BR $1.24 $1,080 $1,015 (6.44%) $981 (10.15%)
3 BR $1.18 $1,425 $1,267 (12.50%) $1,163 (22.49%)
4+ BR $1.32 $1,885 $1,575 (19.68%) $1,489 (26.58%)

Historical Rents in Milwaukee, WI

Studio
1 Bed
2 Bed
3 Bed
4 Bed

Top Cities Near Milwaukee



Let's compare Milwaukee, WI's rent against other top cities nearby by bedroom size.
City Studio 1 Bed 2 Bed All

Top Neighborhoods Near Milwaukee

There are a total of 1 neighborhoods in or near Milwaukee. We've included all of these top 1 neighborhoods in or near Milwaukee, WI in the following chart.

The average rent for these 1 neighborhoods in or near Milwaukee, WI is currently around $1,395 per month. Meaning, only a single neighborhood out of these neighborhoods has a higher average rent. Interestingly, the neighborhoods' average rent is higher than Milwaukee's average rent, which is only $999. Out of all the neighborhoods in or near Milwaukee, Murray Hill has the most affordable average rent at $1,395 per month. Whereas, at $1,395 average rent per month, Murray Hill is the most expensive neighborhood in or near Milwaukee. View the following chart for more information.
Neighborhood Studio 1 Bed 2 Bed All
Murray Hill, Milwaukee, WI $895 $1,095 $1,252 $1,395

Top Counties Near Milwaukee

There are a total of 1 counties located by Milwaukee, WI. The average rent for rentals in these counties is $999. That's roughly around $1 per sqft. A total of 1 counties have a lower average rent. The county that is the most affordable is Milwaukee, WI. It's average rent per month is $999. Vice versa, with an average rent of $999, Milwaukee, WI is the most expensive county by Milwaukee, WI.

Typically, rent for studios in Milwaukee, WI is on par with the other counties nearby. In comparison, rent for one bedroom listings in Milwaukee, WI is on par with the other counties nearby. Finally, rent for two bedrooms in Milwaukee, WI is on par with the other counties nearby. We've listed all of these counties in the chart below.
County Studio 1 Bed 2 Bed All
Milwaukee, WI $730 $925 $1,030 $999

Top Zipcodes Near Milwaukee

There are a total of 4 zipcodes in or near Milwaukee, WI. The average rent for all of these zipcodes is $1,140. A total of 2 zipcodes have a average rent that is lower than that. The zipcode with the most affordable average rent for apartment listings is 53212, Milwaukee, WI at $963 per month. In comparison, the zipcode with the most expensive average rent of $1,535 per month is 53204, Milwaukee, WI.

Studios in these zipcodes have an average rent of $554. That's at least $2 per sqft. Do you need more space than that? Average rent for one bedroom rentals for the zipcodes in or near Milwaukee, WI is $995 per month. Or in other words, $2 per sqft. Meanwhile, two bedroom apartments will cost you an average of $1,373 per month. Which comes out to $2 per sqft. The following chart includes the top 4 zipcodes in Milwaukee, WI. You can view the average rent breakdown for each zipcode by bedroom size.
Zipcode Studio 1 Bed 2 Bed All
53202, Milwaukee, WI $795 $995 $1,525 $995
53211, Milwaukee, WI $463 $995 $1,220 $1,285
53204, Milwaukee, WI $645 $1,493 $1,950 $1,535
53212, Milwaukee, WI $50 $919 $995 $963

Frequently Asked Questions - Milwaukee Average Rents

What is the average rent price in Milwaukee, WI?
The average monthly rental price for Milwaukee, WI apartments for rent is approximately $999. This calculation takes into consideration rental listings of varying bedroom/bathroom sizes, building types, and locations.
Do Milwaukee, WI rent prices drop in winter?
Yes! On average we see a 3.4% drop in rental prices between the peak summer months and the slower winter months. With the added bonus of decreased competition from other renters looking to move, winter is generally considered the best time of the year to find an apartment for rent in Milwaukee, WI.
How much is a studio apartment in Milwaukee, WI?
The average monthly rental price for studio apartments is $730 and an average price per square feet of $1.72. There are a total of 72 studio apartment listings currently available for rent in Milwaukee.
How much is a one bedroom apartment in Milwaukee, WI?
The average monthly rental price for one bedroom apartments is $925 and an average price per square feet of $1.83. There are a total of 163 one bedroom apartment listings currently available for rent in Milwaukee.
How much is a two bedroom apartment in Milwaukee, WI?
The average monthly rental price for two bedroom apartments is $1,030 and an average price per square feet of $1.24. There are a total of 205 two bedroom apartment listings currently available for rent in Milwaukee.
How have rent prices in Milwaukee, WI changed this year?
Rent prices for rentals in Milwaukee, WI can fluctuate yearly. Specifically, studio rental prices have changed by -0.06%, one bedroom rental prices have changed by -0.15%, two bedroom rental prices have changed by 0.06%, and three bedroom rental prices have changed by 0.13% year-over-year.
What is a reasonable rent price in Milwaukee, WI?
A reasonable rent price in Milwaukee, WI is around $799/month. You can search for these reasonably priced rental listings on RentHop.
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