Milan: After years of growth, the rental market stabilized in Q2 2026

Rents in the city remained unchanged over the quarter at €23.3 per square meter; Milan maintains its status as the most expensive city in Italy.

After a sharp price surge in previous years, Milan's long-term rental market has finally slowed down. According to a new report from the analytical department of the real estate portal idealista, in the second quarter of 2026, rental prices in the metropolis remained at the level of the previous quarter - €23.3 per square meter, while showing a slight decrease of 1.5% compared to the same period last year. A similar trend is observed in the province, where a symbolic quarterly increase of 0.4% (to €22.4/m²) was recorded, while the year-on-year decline was 1.4%.

"After a protracted period of price appreciation, the rental market in Milan has hit an affordability ceiling: the average rate has stabilized and even dropped slightly year-on-year. This is a clear sign that the peaks reached in recent years have exhausted the purchasing power of many families in the face of still-strong, but now more selective, demand. "At the same time, the gap between prices in the city itself and its suburbs has narrowed to approximately one euro per square meter, which indicates the emergence of a single and balanced market across the entire agglomeration," notes Vincenzo De Tommaso, head of the idealista analytics department.

Analysis by Milan districts

Of the 18 city districts monitored by idealista, 6 districts recorded an increase in rental rates in the second quarter of 2026, 5 districts recorded a decrease, and 7 quarters saw prices remain unchanged. The most noticeable increase in prices occurred in the San Siro - Trenno - Figino zone (4.8%), followed by Forlanini (3.7%) and Cermenate - Missaglia (2.4%). On the contrary, the most significant price declines were demonstrated by Vialba - Gallaratese (-4.3%), Garibaldi - Porta Venezia (-2.9%), Porta Vittoria (-1.4%), Vigentino - Ripamonti (-1%) and Baggio (-0.8%).

In terms of absolute price values, Milan remains the undisputed leader in terms of cost among the administrative centers of Italy. Within the city itself, the historic center retains its status as the most premium location (35 euros/m²). Next come Garibaldi - Porta Venezia (26.2 euros/m²), Navigli - Bocconi (25 euros/m²) and Fiera De Angeli (24.5 euros/m²). All of these areas significantly exceed the citywide average (23.3 euros/m²).

In areas with prices below the average, rates remain quite high: from 21 euros/m² in Forlanini to 16.3 euros/m² in Baggio, which is recognized as the most affordable district of Milan. In addition, two neighborhoods updated their historical maximums for the entire period of idealista’s observations: Corvetto - Rogoredo and Lorenteggio - Bande Nere, where rents reached 20 euros/m².

Rental market trends in the province of Milan

In the 14 suburban municipalities (hinterland) covered by the study, quarterly dynamics were predominantly positive: in 10 communes, rents increased and in only 4 they decreased. The highest rental growth was recorded in Opera (12.7%), Cinisello Balsamo (8.5%), Rho (7.4%), Bollate (5.7%), and Pioltello (4.8%). The most pronounced decline was observed in Segrate (-6.6%), Abbiategrasso (-3.7%), and Rozzano (-1.9%).

In terms of rental prices, Rozzano and Sesto San Giovanni remain the most expensive suburbs (16 euros/m²). They are followed by Segrate (15.4 euros/m²) and Basiglio (15.1 euros/m²), but all of them are below the average prices in Milan itself. The most affordable rental options can be found in Abbiategrasso (10.8 euros/m²), Bollate (11.4 euros/m²), and Legnano (12 euros/m²). Two municipalities—Opera and Pioltello—also reached their highest historical values for the portal's entire data collection period.