Rents are right about where Waukesha's 10-year trend predicts.
Rent by unit size
These are HUD Fair Market Rents, the payment standard for a Housing Choice Voucher (Section 8). They often differ from the $1,475 market median above, and that is expected: FMR is the 40th percentile of standard-quality units and counts gross rent, so it includes essential utilities such as electricity, water, gas, sewer, and trash. The market median is asking rent, which usually excludes utilities. HUD sets FMR once a year; market rent here updates monthly.
Source: HUD Small Area Fair Market Rents. Read the methodology →
12-month history
Last updated: October 17, 2026
What the numbers show
October. Asking rents in Waukesha usually run 0.6% below trend in October and 0.6% above it in June, about $18 a month apart at today's median. Based on 5 years of data.
Rent in Waukesha is at its highest level since Zillow's records here began in August 2021.
Rent in Waukesha changed +5.3% over the year to September 2026. Across the 42 Wisconsin cities Zillow tracks, the typical change was +5.3%.
Rent has risen 4 months in a row, and rose in 9 of the last 12 months.
30% of the median household income ($130,978) is $3,274 a month. That covers HUD's Fair Market Rent for up to a 4-bedroom ($1,890).
South Milwaukee, 21 miles away, rents for 22% less ($1,148/mo), about $3,900 a year in savings.
From Zillow's monthly rent index (ZORI) for Waukesha. The seasonal pattern compares Zillow’s seasonally adjusted and unadjusted series. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.
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Who lives here
Waukesha, WI is majority owner-occupied, has a median income above the national average, 49.4% of residents hold a bachelor's degree or higher.
Source: U.S. Census Bureau · ACS 2024 5-Year Estimates
How Waukesha, WI has changed in 5 years
The median rent in Waukesha, WI stood at $1,142 in 2022 and currently runs about $1,475, reflecting a 29.2% increase over the period. Household income in the area moved from $119,685 to $130,978 across the same window, up 9.4% versus 2021. That spread, with rent up faster than earnings, points to a tougher affordability environment than five years ago. College-educated residents now make up 49.4% of adults here, versus 44.8% in 2021. Reading these numbers side by side helps frame whether current listings in Waukesha, WI look reasonable against where the market sat half a decade ago.
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Can you afford rent in Waukesha on your salary?
At $1,475/mo, how Waukesha rent compares to typical pay (30% rule).
Waukesha rent by bedroom count
Median rent for each apartment size in Waukesha. Click any size for full breakdown.
Tips for renters in Waukesha
Last updated: October 17, 2026
The median rent in Waukesha is $1,475/mo as of October 2026. A studio apartment averages $1,045/mo while a 2-bedroom runs $1,395/mo. One-bedroom apartments average $1,170/mo and 3-bedroom units go for $1,730/mo.
At 14% of local median household income ($130,978/yr), Waukesha ranks as affordable compared to the national benchmark of 30%. Rents have increased 5.3% over the past year.
Frequently asked questions
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Which nearby cities are cheaper to rent in than Waukesha?
At $1,475/mo, rent takes ~14% of Waukesha's median household income ($130,978/yr). The standard benchmark is 30%.
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Estimated from ZIP-level data
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