
Cheap Homes for Rent near Milan, IL from $700 (11 Rentals)
Search the lowest-cost Homes available for rent right now in Milan.


415 18th Ave

606 W 3rd St

1622 Washington St

2415 7th Ave
Rent According to Income: A Look at Income-Restricted Rentals
Find income-restricted rentals and housing subsidies. Explore government programs designed to help low-income families secure stable, affordable housing.

1607 W 2nd St

1326 38th St

3032 Indian Rd

3110 24th St

1009 W 10th St
Renters Insurance 101: What It Is, What It Covers, and Why You Need It
From theft to fire to water damage, the unexpected can happen to any renter. Discover why renters insurance is one of the smartest and most affordable investments you can make as a tenant.

3313 Avenue of the Cities
Milan, IL Local Guide

How much does it cost to rent a home in Milan?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Milan 2 Bedroom Homes for Rent | $1,161 | $875 | $1,695 |
| Milan 3 Bedroom Homes for Rent | $1,448 | $1,295 | $1,550 |
| Milan 4 Bedroom Homes for Rent | $2,231 | $1,712 | $2,750 |
| Milan 5 Bedroom Homes for Rent | $1,650 | $1,650 | $1,650 |
Browse Top Homes for Rent in Milan
Explore Milan
Milan, IL Local Guide
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Cheapest Available Milan Apartments for Rent and Nearby
 The cheapest available apartment rental in Milan, IL is a 1 Bed unit found at Carriage Hill in the Vander Veer Park neighborhood priced from $775. Moline Enterprise Lofts in the Villa Park neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $814. Here is today’s list of the most affordable Milan apartments for rent:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| Carriage Hill | 1BR/1.0BA | 1BR,1BA | $775 |
| Moline Enterprise Lofts | 1x1 | 1BR,1BA | $814 |
| Pine Ridge | 1-sycam | 1BR,1BA | $815 |
| Pershing Hill Lofts | Studio | Studio,1BA | $818 |
| Crescent Lofts | Income Restricted | 1BR,1BA | $824 |
Best Value Apartments for Rent in Milan, IL and Nearby
As of August 30, 2026 the best value apartment in the Milan area is the $1.09 price per square foot The Riverside Model at Parkway Commons in the in the Saukie neighborhood starting from $1,350. The second greatest value Milan apartment is the 1bd/1ba Model at Davenport Bank Apartments starting at $1,250 with a $1.04 price per square foot in the Vander Veer Park neighborhood. Here is today’s list of the best values for Milan apartments based on price per square foot:
| Apartment Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| Parkway Commons | The Riverside | 2BR,2BA | $1.09 |
| Davenport Bank Apartments | 1bd/1ba | 1BR,1BA | $1.04 |
| Bucktown Lofts | 1 BR/ 1 BA | 1BR,1BA | $0.84 |
| LeClaire | The Fitzgerald | 2BR,1BA | $1.02 |
| Crescent Lofts | Market 1 bed 1.5 bath | 1BR,1.5BA | $1.19 |
| The Penthouse Davenport | One Bedroom | 1BR,1BA | $1.25 |
| Carriage Hill | 1BR/1.0BA | 1BR,1BA | $1.09 |
| 2504 15th St, Unit 2 | 2504 15th St | 1BR,1BA | $1.09 |
| Timber Ridge Apartments | 1BR/1.0BA | 1BR,1BA | $1.19 |
| Pine Ridge | 1-sycam | 1BR,1BA | $1.21 |
Don't Settle: How to Negotiate Your Apartment Lease and Save Money
Discover the insider tips from an attorney and real estate agent on how to negotiate your next apartment lease. Find out what's on the table and what's not, so you can save money and get the best terms possible.
Read ArticleReal Estate and Rental Term Glossary | ApartmentHomeLiving.com Renter University
From the letter A all the way to the letter Z, the Real Estate and Rental Term Glossary from the content team at ApartmentHomeLiving.com provides our visitors and shoppers with a little clarity and helpful guidance in navigating the real estate world through definitions and explainers for the top subjects and terms that someone may come across during the leasing, buying, or selling process.
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The common "Rule of Thumb" is that rent should be no more than 30% of your income. How much is that? Enter your monthly income and click "Calculate My Budget" to find out.
Remember the 3 Rules of Real Estate:Location, Location, Location!
Explore Milan, IL Rentals by Map
See the most popular apartments and homes in Milan, IL
Frequently Asked Questions about Milan
What type of rentals are currently available in Milan?
There are currently 71 Apartments for Rent in Milan, IL with pricing that ranges from $627 to $2,450. There are also 35 Single Family Homes for rent, Condos, and Townhome rentals currently available in Milan ranging from $700 to $2,750.
What is the current price range for Rental Homes in Milan?
Today's rental pricing for Homes for Rent, Condos and Townhomes in Milan ranges from $700 to $2,750 with an average monthly rent of $1,228.
Expert Rental Resources
The rental experts at ApartmentHomeLiving.com provide you with top advice, tools, and tips for understanding the leasing process and finding the perfect rental. Here are a few helpful rental and leasing articles from our experts to guide you on your search.
Articles, How-To's, and Tips

Rent According to Income: A Look at Income-Restricted Rentals
Written by: Robin Stewart
The idea of affordable housing can be subjective. Every individual is in a different place financially and vocationally. What one may easily afford could be a struggle for someone else.

Practical Tips for Renters: How to Identify a Great Rental and Avoid Red Flags
Written by: Robin Stewart
Renters want to find a great apartment, the right place for them, one that checks all the boxes of location, rental cost, amenities, safety, and more.

First Apartment Regrets: Real Renters Share What They'd Do Differently
Written by: Robin Stewart
Hindsight is 20/20. Live and Learn. With age comes wisdom. We’re familiar with all those expressions, and all of them apply to lessons first-time renters learn.

Renters Insurance 101: What It Is, What It Covers, and Why You Need It
Written by: Robin Stewart
Insurance seems to be a part of life. In some states, having insurance is the law, as is the case for automobile insurance. Renters are no exception.