Milan: Rental Market Stabilizes in Q2 2026 Following Years of Growth

The rental rates in the city remained steady at €23.3 per square meter during the quarter, solidifying Milan's position as Italy's most expensive city.

After experiencing a significant surge in prices in previous years, the long-term rental market in Milan has finally shown signs of slowing down. According to a recent report by the analytical team at the real estate platform idealista, rental costs in the metropolis remained unchanged at €23.3 per square meter in the second quarter of 2026, with a slight decrease of 1.5% compared to the same period last year. A similar trend was observed in the province, where there was a modest quarterly increase of 0.4% (reaching €22.4/m²), while witnessing a year-on-year decrease of 1.4%.

"Following a prolonged period of price appreciation, Milan's rental market has reached a point of stability, with rates showing a slight decline compared to the previous year. This indicates that the high prices seen in recent times have stretched the financial capabilities of many households in the face of continuing, albeit more selective, demand," stated Vincenzo De Tommaso, head of idealista's analytics department. "At the same time, the price gap between the city and its outskirts has narrowed to around one euro per square meter, signaling the emergence of a unified and balanced market throughout the entire metropolitan area."

Analysis of Milan's Districts

Out of the 18 districts in Milan monitored by idealista, 6 districts saw an uptick in rental prices in Q2 2026, while 5 districts experienced a decrease, and prices remained unchanged in 7 districts. The most significant price increase was observed in the San Siro - Trenno - Figino area (4.8%), followed by Forlanini (3.7%) and Cermenate - Missaglia (2.4%). Conversely, the most notable price drops were seen in Vialba - Gallaratese (-4.3%), Garibaldi - Porta Venezia (-2.9%), Porta Vittoria (-1.4%), Vigentino - Ripamonti (-1%), and Baggio (-0.8%).

Milan continues to lead in terms of rental costs among Italy's administrative hubs. The historic center remains the most premium location (€35/m²), followed by Garibaldi - Porta Venezia (€26.2/m²), Navigli - Bocconi (€25/m²), and Fiera De Angeli (€24.5/m²), all surpassing the citywide average of €23.3/m².

Even in areas with prices below the average, rates remain relatively high, ranging from €21/m² in Forlanini to €16.3/m² in Baggio, known as Milan's most affordable district. Additionally, two neighborhoods, Corvetto - Rogoredo and Lorenteggio - Bande Nere, reached their highest rental prices ever recorded by idealista at €20/m².

Rental Trends in the Province of Milan

Across the 14 suburban municipalities covered in the study, there was predominantly positive quarterly growth, with rents increasing in 10 communities and decreasing in 4. The most significant rental growth was seen in Opera (12.7%), Cinisello Balsamo (8.5%), Rho (7.4%), Bollate (5.7%), and Pioltello (4.8%). On the other hand, the most notable declines were observed in Segrate (-6.6%), Abbiategrasso (-3.7%), and Rozzano (-1.9%).

Rozzano and Sesto San Giovanni remain the most expensive suburbs in terms of rental prices (€16/m²), followed by Segrate (€15.4/m²) and Basiglio (€15.1/m²), though all below the average prices in Milan. The most affordable rental options can be found in Abbiategrasso (€10.8/m²), Bollate (€11.4/m²), and Legnano (€12/m²). Opera and Pioltello also reached their highest historical values during idealista's data collection period.