The Flats at Bishop's Woods
350 Bishops Way,
Brookfield, WI 53005
$1,038 - $2,015
1-3 Beds
Rental Market Trends in Elm Grove, WI
What is the average rent in Elm Grove, WI?
$2,066/month
Average Rent
856 Sq Ft
Average Apartment Size
-0.3%
Decrease in the Last Year
As of August 2025, the average rent in Elm Grove, WI is $2,066 per month. This is 26% higher than the national average rent price of $1,639/month, making Elm Grove one of the most expensive cities in the US. When you rent an apartment in Elm Grove, you can expect to pay about per month for a studio, $2,066 for a one-bedroom apartment, and around $3,081 for a two-bedroom apartment. If you opt for a three-bedroom rental, you could pay $4,181 or more.
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
How much has average rent changed in Elm Grove, WI?
In the past year, rent has decreased by 0.3%, which averages out to $6 less per month.
Market Trends Over Time
The chart below compares average rent prices to the previous year during the same time period.
Last Updated August 2025
Legend
2024
2025
Rent by Neighborhood
Last Updated Today
What are the most affordable neighborhoods in Elm Grove?
Based on current rent prices, Downtown Elm Grove and Caroline Heights" are the most affordable neighborhoods in Elm Grove.
Neighborhood
Average Rent
Average Sq Ft
What are the most expensive neighborhoods in Elm Grove?
Based on current rent prices, Caroline Heights and Downtown Elm Grove" are the most expensive neighborhoods in Elm Grove.
Neighborhood
Average Rent
Average Sq Ft
Which Elm Grove neighborhoods have the most rentals available?
The neighborhoods in Elm Grove with the most apartments available are Downtown Elm Grove and Caroline Heights" .
Neighborhood
Average Rent
Average Sq Ft
What salary do I need to live comfortably in Elm Grove, WI?
Because the average rent in Elm Grove is $2,066, you’ll want to make about $6,886 per month or $82,632 per year. The general guideline is to pay no more than 30 percent of your monthly income on rent. However, you’ll want to consider additional factors, such as your monthly bills and other expenses. Use our rent affordability calculator to help determine how much to budget for rent.
How does Elm Grove, WI compare to other nearby cities and neighborhoods?
Use the tool below to compare Elm Grove, WI to other nearby cities and neighborhoods. The Apartments.com neighborhood guides provide you with insight into the area’s transportation, things to do, and more.
Studio
-
-
One Bedroom
-
-
Two Bedroom
-
-
Three Bedroom
-
-
Nearby City Rent Trends
Apartment communities in Elm Grove we think you'll love
Learn More with Helpful Articles
Rental management, simplified
Our all-in-one suite of property manangement software makes the rental process easy. Screen tenants, manage payments, and more – all on Apartments.com
Methodology
† Our analysis of utilities, groceries, transportation, healthcare, home prices, and other goods and services is sourced from the Cost of Living Index, a respected benchmark published by the Council for Community and Economic Research (C2ER) that provides a thorough overview of living expenses across different regions.
Rent data is provided by CoStar Group’s Market Trend reports. As the industry leader in commercial real estate information, analytics, and news, CoStar conducts extensive research to produce and maintain a comprehensive database of commercial real estate information. We combine this data with public record to provide the most up-to-date rental information available.
Consumer goods, services, and home prices are sourced from the Cost of Living Index published by the Council for Community and Economic Research (C2ER). The data on this page is updated quarterly. It was last published in June 2025.
* Percentages may not total 100 due to rounding.