Village Woods
300 20th Ave W,
Milan, IL 61264
1-3 Beds | $1,200 - $1,385
Rental Market Trends in Milan, IL
Updated July 2026
The average rent in Milan, IL is $1,040/month.
Rent in Milan is 37% lower than the national average rent of $1,663/month, making this one of the less expensive cities statewide.
$1,040/month
Average Rent
719 Sq Ft
Average Size
+3.1%
Change / Year
10
Available Apartments
Milan rent varies by unit size and layout:
- Studio apartments in Milan average per month.
- One-bedroom apartments in Milan average $1,040 per month.
- Two-bedroom apartments in Milan average $1,259 per month.
- Three-bedroom apartments in Milan average $1,418 or more per month.
Average Rent by Home Type
Bedrooms
Average Rent
Average Sq Ft
How much has average rent changed in Milan, IL?
In the past year, rent has increased by 3.1%, which averages out to $33 more per month.
Market Trends Over Time
July 2026
2025
2026
Rent Ranges in Milan, IL
July 2026
$1,001 - $1,500
Most rental prices fall within this range
Percentage*
Rent Range
0%
Below $700/month
0%
$700 - $1,000/month
100%
$1,001 - $1,500/month
0%
$1,501 - $2,000/month
0%
Above $2,000/month
What salary do I need to live comfortably in Milan, IL?
Because the average rent in Milan is $1,040, you’ll want to make about $3,466 per month or $41,592 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.
View the Milan Area GuideCompare Rent Trends Nearby
Get a clearer picture of the area by viewing rent trends in nearby cities.
Apartment Communities in Milan We Think You'll Love
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Frequently Asked Questions
What is the average rent in Milan?
The average rent in Milan is $1,040 per month, which is 37.5% lower than the national average of $1,663.
Are rents going up or down in Milan?
Rents in Milan, IL are increasing, with prices up 3.1% year-over-year and $33 more per month.
What rent range is most common in Milan?
In Milan, IL, 100% of apartments fall between $1,001 - $1,500/month, though prices may vary depending on location and other factors.
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 2026.
Demographic information comes from Neustar and combines detailed address data with U.S. Census and American Community Survey statistics to produce reliable local estimates.
* Percentages may not total 100 due to rounding.