The cost of accommodation in Milan breaks all records. Five-star hotels offer rooms from 200 to 1300 EUR per night, depending on the season and events. Four- and three-star hotels are cheaper — from 120 to 500 EUR. Note: during Fashion Week, prices at least double.
If you wish, you can rent an apartment in one of the residential districts. A one-bedroom renovated apartment costs around 1200 EUR per month (≈ 40 EUR/night). A room in a local resident’s home — from 600 to 900 EUR/month (≈ 20–30 EUR/night).
A hostel bed costs from 25 EUR per night, and the cheapest accommodation in Milan is a tent in a campsite for about 15 EUR.