Welcome to the Apartment List September 2026 Rent Report for Milpitas, CA. Currently, the overall median rent in the city stands at $3,333, after rising 1.8% last month. Prices and are now up 10.1% year-over-year. Read on to learn more about what’s been happening in the Milpitas rental market and how it compares to trends throughout the broader San Jose metro area and the nation as a whole.