Property investment in Milan, Italy
2026 Market Data & Investment Analysis
Gross Yield
4.99%
Annual rent / price
Median Home Price
€456,000
As of 2026-Q1
Median Monthly Rent
€1,896
Per month
Population
1,378,689
+0.8% / yr (5y avg)
Estimates based on median market data. Actual returns depend on your specific property. Source: Immobiliare.it / ISTAT / Agenzia delle Entrate (OMI), 2026-Q1.
Calculate your rental yield in Milan
Pre-filled with Milan's median values. Adjust to match your specific property.
Property Details
Total acquisition cost before taxes
HOA, insurance, property management
% of time the property is empty
% of purchase price (e.g. 2% = 2)
Rule of thumb: 1% of purchase price/yr
Results
Gross Rental Yield
4.99%
Net Rental Yield
3.21%
Cap Rate
3.21%
Monthly Cash Flow
€1,221.20
Annual Cash Flow
€14,654.40
Milan rental market at a glance
Median Home Price — 5-Year Trend
Median Monthly Rent — 5-Year Trend
Milan is Italy's financial and fashion capital, with the highest property prices in the country and a deep, liquid rental market driven by corporate relocations, international students, and a thriving tech sector.
While Milan's rental yields of 4.99% are below average, investors may benefit from strong long-term appreciation potential in this market.
Modest population growth of 0.8% per year indicates a stable but slowly growing rental market.
The vacancy rate of 2.8% is healthy, indicating strong rental demand and limited downtime between tenants.
What type of investment market is Milan?
Milan presents challenges with both modest rental yields and limited population growth. Investors need to carefully analyze specific neighborhoods and property types to find opportunities that outperform the market average.
✓ Strengths
- •Lower entry prices may reduce downside risk
- •Select neighborhoods and value-add properties can outperform the average
! Risks
- •Below-average gross yield of 4.99% limits income potential
- •Limited population growth reduces long-term rental demand
- •Higher due diligence required to identify strong-performing assets
Key Metrics
How does Milan compare to nearby cities?
Milan vs Bergamo: 1.5 percentage point difference in gross yield.
Common questions about investing in Milan
Is rental investing profitable in Milan?▾
What is the average rental yield in Milan?▾
How does Milan compare to Bergamo for investors?▾
Explore more cities in Italy
Compare yield, price, and population growth across all cities
Ready to Analyse a Specific Property in Milan?
Use our free rental yield calculator to model any property — not just the median.