Act I
Set in the gritty Lower East Side of New York City, Rent follows a year in the life of a group of impoverished young artists struggling to survive and create under the shadow of HIV/AIDS. Narrated by aspiring filmmaker Mark, the story begins on a freezing Christmas Eve. Mark and his roommate, a grieving musician named Roger, are facing eviction by their former friend and current landlord, Benny.
Meanwhile, their friend Tom Collins is mugged on the street and is rescued by Angel, a vibrant drag queen and street musician, sparking an immediate and deep romance. Throughout the evening, Mark's ex-girlfriend Maureen, a passionate performance artist, prepares to stage a protest against Benny’s eviction of a local homeless encampment, aided by her new girlfriend, Joanne.
Roger, who has shut himself away from the world, is unexpectedly drawn to his downstairs neighbor, Mimi, an exotic dancer struggling with addiction. After Maureen's successful protest, the friends gather at the Life Café to fiercely celebrate their bohemian lifestyle. Amidst the revelry, Mimi and Roger discover that they are both HIV-positive, finding solace, understanding, and a blossoming romance in their shared reality.
Act II
Over the course of the following year, the group’s bonds are severely tested. Relationships face the strain of jealousy, addiction, and shifting priorities. Maureen and Joanne repeatedly clash over their differences, while Roger and Mimi's relationship crumbles under the weight of her drug use and his fear of loss.
Tragically, Angel's health rapidly deteriorates. His passing leaves the once tight-knit chosen family fractured and grieving. Driven apart, Roger leaves New York for Santa Fe to find his muse, while Mark accepts a soulless corporate television job.
However, the ties that bind the bohemian family ultimately prove too strong to sever. Realizing what truly matters, Mark quits his job to finish his documentary, and Roger returns to New York with the song he has been struggling to write all year. On Christmas Eve, exactly one year later, the group is unexpectedly reunited when a gravely ill Mimi is brought to the apartment. Nearing death, Roger sings her his completed song. She suddenly regains consciousness, miraculously revived by what she describes as Angel’s watchful spirit. The friends embrace, reaffirming the enduring power of love, community, and the profound importance of living for "no day but today."