Village Woods
300 20th Ave W,
Milan, IL 61264
$1,005 - $1,185
1-3 Beds
Rental Market Trends in Milan, IL
What is the average rent in Milan, IL?
$1,014/month
Average Rent
719 Sq Ft
Average Apartment Size
+15.5%
Increase in the Last Year
As of December 2025, the average rent in Milan, IL is $1,014 per month. This is 38% lower than the national average rent of $1,631/month, making renting in Milan more affordable than most cities in the US. When you rent an apartment in Milan, you can expect to pay about per month for a studio, $1,014 for a one-bedroom apartment, and around $1,221 for a two-bedroom apartment. If you opt for a three-bedroom rental, you could pay $1,386 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 Milan, IL?
In the past year, rent has increased by 15.5%, which averages out to $158 more per month.
Market Trends Over Time
The chart below compares average rent prices to the previous year during the same time period.
Last Updated December 2025
Legend
2024
2025
What salary do I need to live comfortably in Milan, IL?
Because the average rent in Milan is $1,014, you’ll want to make about $3,380 per month or $40,560 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 Milan, IL compare to other nearby cities and neighborhoods?
Use the tool below to compare Milan, IL 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.
Nearby City Rent Trends
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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 November 2025.
* Percentages may not total 100 due to rounding.