The production's controversial topics and innovative pricing, including same day-of-performance $20 tickets, helped to increase the popularity of musical theater amongst the younger generation. The production was nominated for ten Tony Awards in 1996 and won four: Best Musical, Best Book, Best Original Score and Best Performance by a Featured Actor in a Musical (Heredia).
On April 24, 2006, the original Broadway cast reunited for a one-night performance of the musical at the Nederlander Theatre. This performance raised over $2,000,000 for the Jonathan Larson Performing Arts Foundation, Friends In Deed and New York Theatre Workshop. Former cast members were invited, and many from prior tours and former Broadway casts appeared, performing an alternate version of "Seasons of Love" as the finale of the performance. Rent closed on September 7, 2008, after a 12-year run and 5,124 performances, making it the ninth-longest-running Broadway show. The production grossed over $280 million.