Thirty percent occupancy might look soft at first glance, but the trajectory here is what caught my attention — that's a 15-point climb in two years, which in my experience usually means a market finding its legs rather than one that's already peaked. At €121 a night, rates have barely moved, so guests aren't being priced out; the demand growth is coming from volume, not yield extraction, which is a healthier foundation. Milan does carry real regulatory weight — Italy's national short-term rental rules now require a CIN registration code and, in Lombardy, local authorities can cap listings in saturated zones — so you'd want to stress-test your specific address before committing. With 16,000 active listings, supply is dense. Buy smart on location and you're catching a rising tide; buy average and you'll drown
Year-over-year performance
Compared to the closest snapshot from approximately 12 months ago, the Milan short-term rental market has shifted in measurable ways. Occupancy among active listings is up 0 points, while the median daily rate is up 33.9 percent.
Looking further back: three years ago, occupancy was 2.2 points lower. Two years ago, 0.6 points lower.
When Milan Airbnbs perform best
Occupancy in Milan peaks in September at 69% and bottoms out in December at 35%, a 34-point swing across the year. Price the peak, defend the shoulder months with minimum-stay rules, and budget the trough as empty.
| Month | Occupancy | Median nightly rate |
|---|---|---|
| January | 37% | — |
| February | 38% | — |
| March | 41% | — |
| April | 51% | — |
| May | 47% | — |
| June | 52% | — |
| July | 58% | — |
| August | 63% | — |
| September | 69% | — |
| October | 55% | — |
| November | 36% | — |
| December | 35% | — |
Looking ahead, 41% of the next 30 nights are already booked across the market, 38% of the next 60 and 37% of the next 90 (as of 2026-10-18).
How Milan compares to Italy
Benchmarked against 9 other Italy markets we track, Milan's metrics tell a clear story.
What kind of Airbnbs are in Milan?
Of the 17,669 active operating listings, 91.6% are entire homes (vs private rooms), and 38.9% are operated by Airbnb Superhosts.
Top neighborhoods in Milan
The 88 neighborhoods we track range from established tourist hotspots to emerging investment zones. Here are the 10 strongest by median annual revenue per listing, led by CANTALUPA at £20,787 a year.
| Neighborhood | Listings | Occupancy | Annual revenue | RevPAR | YoY |
|---|---|---|---|---|---|
| CANTALUPA | 4 | 42.4% | £20,787 | £57 | +2.5 pts YoY |
| CENTRALE | 917 | 31.2% | £17,238 | £47 | +1.6 pts YoY |
| DUOMO | 1,237 | 17% | £16,268 | £45 | +0.6 pts YoY |
| QUINTOSOLE | 9 | 41.1% | £16,040 | £44 | +18.9 pts YoY |
| PARCO SEMPIONE | 21 | 16.4% | £15,734 | £43 | -5 pts YoY |
| BRERA | 764 | 20.5% | £15,572 | £43 | -4.2 pts YoY |
| MAGENTA - S. VITTORE | 362 | 19.7% | £13,056 | £36 | +2.1 pts YoY |
| BUENOS AIRES - VENEZIA | 1,487 | 21.4% | £11,690 | £32 | +0 pts YoY |
| PAGANO | 210 | 17% | £11,376 | £31 | -4.4 pts YoY |
| GARIBALDI REPUBBLICA | 281 | 17% | £11,072 | £30 | -1.9 pts YoY |
Frequently asked questions
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