Milan Rental Market: A Glimmer of Hope for Tenants as Prices Show Signs of Slowdown
Milan, Italy – January 16, 2026 – Milan continues to hold the unenviable title of Italy’s most expensive city for rental properties, yet recent data suggests a notable shift in the market. After years of relentless increases, the city’s rental landscape is now exhibiting clear signs of a slowdown, with a decrease in asking prices, particularly in central and semi-central districts. This trend is attributed to an increased availability of properties and a more selective demand from tenants.
High Prices Persist, But Growth Stalls
According to the latest analysis by idealista.it, the average rental price in Milan stands at 22.8 euros per square meter per month. This translates to approximately 1,800 euros per month plus expenses for a three-room apartment, a figure that remains prohibitive for a significant portion of the city’s workforce, impacting essential public services.
However, the 2025 year-end report indicates an overall annual decline of 2.3% in rental rates. This deceleration became more pronounced in the final quarter of the year, with a quarter-on-quarter variation of -3.1%.
Vincenzo De Tommaso, head of idealista’s research office, commented on the evolving market dynamics: “Today, we find ourselves in a phase of greater equilibrium, where a still present but more selective demand is accompanied by increasing constraints on tenants’ spending capacity, also due to the generalized increase in the cost of living.”
District-Specific Trends: Central Areas See Decreases
A closer look at Milan’s 17 districts reveals a diverse picture. While only five districts experienced rental increases, eleven saw a decline, and one remained stable. The most significant increases were observed in areas with historically lower rents, such as Baggio (+8.4%), San Siro-Trenno-Figino (+4.8%), and Certosa (+3.3%). More modest rises were noted in Comasina-Bicocca (+0.6%) and Cermenate-Missaglia (+0.1%).
Conversely, the most substantial decreases were recorded in the central and semi-central areas, which are typically the most expensive. Forlanini saw a decrease of -5.4%, followed by Vigentino-Ripamonti (-4.3%), the Historic Center (-4%), and Garibaldi-Porta Venezia (-3.2%).
Despite these declines, the Historic Center remains the most expensive district, with an average of 33.8 euros per square meter per month. It is followed by Garibaldi-Porta Venezia (25.8 euros), Navigli-Bocconi (25 euros), and Fiera-De Angeli (24 euros). The most affordable rents are still found in Baggio (16.9 euros).
Milan Province Mirrors the Trend
The slowdown is not confined to the city center; the province of Milan also shows similar trends. idealista’s analysis indicates an annual decrease of 2.5% in rental rates across the province, with a -3.7% drop in the fourth quarter of 2025.
Out of 12 monitored municipalities in the province, seven registered increases, while five experienced declines. Notable increases include Abbiategrasso (+9.2%), San Giuliano Milanese (+5.9%), Legnano (+4.6%), and Rho (+3.5%). Segrate (+2.1%), San Donato Milanese (+1.7%), and Cologno Monzese (+0.1%) also saw slight rises.
The most significant decreases in the province were observed in Corsico (-12.2%), Cinisello Balsamo (-6.8%), and Cernusco sul Naviglio (-3.5%).
In terms of absolute prices, Segrate remains the most expensive municipality in the province (16.5 euros per square meter), while Legnano offers the most affordable rents (11.6 euros).
This shift in the Milanese rental market, while still leaving the city as the most expensive in Italy, provides a potential respite for tenants who have faced relentless price hikes in recent years. The increased supply and more cautious demand signal a move towards a more balanced, albeit still challenging, rental environment.
Source: Corriere della Sera
