Average Rent in Milwaukee, WI↑ Rents rising 7.4% YoY🔺 3rd priciest in WI

Milwaukee, WI has rental prices ranging from $939/month to $1,701/month in 2025, depending on unit size. The typical 1-bedroom apartment rents for $1,056/month — 25% below the national average of $1,400/month. With a median household income of $76,404/year, spending $1,056/month on a 1-bedroom represents 17% of gross income — within the recommended 30% threshold.

How Milwaukee Compares

With an average 2-bedroom rent of $1,257/month, Milwaukee ranks #3 most expensive of the 63 cities tracked in Wisconsin — pricier than 84% of all US cities in our data.

The Milwaukee Rental Market

The Milwaukee, WI area has a population of about 1,566,361 and 40% of households renting rather than owning. That renter share runs above the US average of ~34%, pointing to a competitive rental market where vacancies clear quickly and rents are less negotiable.

Rent Trends

2-bedroom rents in Milwaukee, WI have risen by $87/month (7.4%) over the past year, from $1,170 to $1,257. This modest growth is consistent with broader inflationary trends seen across US rental markets.

Affordability

To afford a 1-bedroom apartment in Milwaukee, WI without exceeding the 30% housing cost guideline, a renter needs an annual income of approximately $42,240. The local median household income of $76,404 exceeds that threshold by $34,164, making Milwaukee relatively accessible compared to local wages.

Rent vs. Buy

The median home value in Milwaukee, WI is $229,887, giving a price-to-rent ratio of 15.2. The break-even point between renting and buying is roughly 15 years — renting offers more flexibility for shorter stays, while buying makes more sense for long-term residents.

Neighborhoods

Home values — and by extension rent levels — vary significantly across Milwaukee's neighborhoods. Among the highest-value areas are North Meadows ($64,805 median home value), North Division ($76,553 median home value), Park West ($87,034 median home value). Rental prices typically follow home value patterns, with premium neighborhoods commanding higher rents than outer areas. Renters on a tighter budget may find better value in less central neighborhoods or in adjacent metros with lower overall rent levels.

Is Milwaukee, WI Affordable?

Income needed to rent or buy, price history, and how this city compares to nearby metros.

Rent or Buy in Milwaukee?

Break-even analysis and mortgage estimates based on local market data.

Living in Milwaukee

Cost of living, job market, crime rates, and moving cost estimates.