Act I
On Christmas Eve at 9 P.M. Mark Cohen, an aspiring filmmaker, begins a new documentary, as his roommate, Roger Davis, tunes up his guitar ("Tune Up #1") but they are quickly interrupted by a call from Mark's mother, who claims she was sorry to hear about his break-up with Maureen Johnson ("Voicemail #1"). Roger and Mark's friend Tom Collins, a gay anarchist and college professor, arrives at their building but is mugged. Meanwhile, Roger and Mark receive a call from their former friend and roommate Benjamin "Benny" Coffin III. Benny bought Mark and Roger's apartment building, as well as the lot next door after marrying into a wealthy family. He has plans to evict the homeless from the lot and build a Cyber Studio in its stead. He tells them last year's rent is due ("Tune Up #2"). The electrical power goes out. Mark and Roger refuse to pay their rent ("Rent"). Meanwhile, a drag queen named Angel Dumott Schunard finds Collins on the street and gets him on his feet ("You Okay Honey?"). The two are immediately attracted to each other, and learn that they are both HIV positive.
Mark tries to get Roger out of the apartment. Mark reveals that Roger has been living in withdrawal for the past year due to his girlfriend April's suicide after discovering they both had AIDS. Mark leaves to find Collins after reminding Roger to take his AZT ("Tune Up #3"). Roger attempts to write a great song to make his mark on the world before he dies ("One Song Glory"). Their downstairs neighbor, an exotic dancer named Mimi Marquéz walks in, asking Roger to light a candle for her, only to continually blow it out as she flirts with him ("Light My Candle"). Though he feels attracted to her, Roger is reluctant to begin a new relationship.
Joanne Jefferson, a lawyer and Maureen's new girlfriend, receives a phone call from her parents, wondering why she is stage managing for Maureen's protest against Benny's new Cyber Studio ("Voicemail #2"). Angel, now in drag, and Collins arrive at the apartment bearing gifts. Collins introduces Angel to his friends and Angel tells how he earned $1,000 by causing a noisy Akita to jump to its death ("Today 4 U"). Benny arrives with an offer: if they convince Maureen to cancel her protest, he'll let them live in his new studio project, rent-free ("You'll See"). However, the two rebuff his offer. After Benny leaves, Angel and Collins invite Mark and Roger to attend a local HIV support group meeting.
Mark hurries off to help fix Maureen's sound equipment for the protest, only to run into Maureen's new girlfriend Joanne. They overcome the awkwardness of their meeting and connect over their feelings for Maureen ("Tango: Maureen"). Mark then enters into the support group meeting ("Life Support"). Meanwhile, Mimi attempts to seduce Roger ("Out Tonight") but Roger harshly rebuffs her ("Another Day"). After Mimi leaves, Roger admits to an empty apartment his fears about dying from AIDS while the life-support group echoes his thoughts ("Will I?").
Collins, Mark and Angel help a homeless woman who is being harassed by police officers. She then mocks Mark for trying to assuage his guilt ("On the Street"). Collins talks about his dream of escaping New York and opening up a restaurant in Santa Fe ("Santa Fe"). Soon after, Collins and Angel confess their love for each other ("I'll Cover You"). Joanne exasperatedly prepares for Maureen's show ("We're Okay").
Roger intercepts Mimi and apologizes for his behavior. He invites her to come to the protest and dinner with them, to which she agrees. Meanwhile, cops, vendors, and the people from the streets gather to watch the protest ("Christmas Bells").
Maureen arrives and begins her performance ("Over The Moon"). At the Life Café after the show, Benny criticizes the protest and the group's Bohemian lifestyle. Mark and all the bohemians in the café rise up and celebrate the Bohemian lifestyle ("La Vie Boheme A").
Benny tries to plant doubts in Mimi's mind about Roger. Mimi confronts Roger about ignoring her during dinner. Then, as Mimi's beeper goes off (reminding her to take her AZT) she and Roger each discover that the other is HIV-positive and decide to move forward with their relationship ("I Should Tell You"). Joanne returns, explaining that Mark and Roger's building has been padlocked and a riot has broken out. As the first act closes, Mark reveals that amidst the riot, Roger and Mimi share their first kiss ("La Vie Boheme B").
Avte II
Opening with "Seasons of Love" the second act takes place over the course of the year following the first act ("Seasons of Love").
Having been locked out of their apartment by Benny; Mark, Roger, and the Bohemians gather to break-in ("Happy New Year A"). We learn through a series of voicemails ("Voicemail #3") that Mark had filmed the riot which had made the nightly news, and that he has a job offer from Alexi Darling at Buzzline, a tabloid news program.
The others finally break through the door just as Benny arrives. He says he's there to call a truce. He reveals that Mimi, a former girlfriend of his, convinced him to change his mind by making sexual advances on him. Mimi denies seducing Benny, but the revelation that they had once been together upsets Roger. Roger and Mimi both apologize, but Mimi remains upset, and turns to the drug dealer for a fix ("Happy New Year B").
Maureen and Joanne have a fight, giving each other relationship ultimatums. Maureen's flirtatious ways and Joanne's controlling behavior are too much for the other to take, so they break up ("Take Me Or Leave Me"). The company sings a reprise of "Seasons of Love", as time passes and seasons change ("Seasons of Love B"). By spring, Roger and Mimi's relationship has become strained. Roger keeps talking about moving out of town. Mimi comes home late again, causing Roger to believe that she is cheating on him with Benny. Roger jealously storms out, Mimi stops him and tries to tell him the truth, that she is not cheating and that she is still using drugs, but can't get the words out, and Roger leaves. Alone in the apartment, Mimi sings of her love for Roger, and elsewhere, Roger sings of his love for Mimi ("Without You"). Collins continues nursing Angel who is declining as AIDS begins to overtake him. Mark continues to receive calls from Alexi Darling ("Voicemail #4"). Eventually, Roger and Mimi, and Joanne and Maureen, reconcile.
A dance is performed representing the couples' sex-lives ("Contact"). At the climax of the number, Joanne, Maureen, Roger and Mimi break up again. At the same time, Angel passes away, leaving Collins heartbroken. At the funeral, the friends briefly come together to share their memories of Angel, with Collins being the last to speak ("I'll Cover You [Reprise]"). Mark expresses his fear of being the only one left surviving when the rest of his friends die of AIDS or break up ("Halloween"). He finally accepts the job offer from Buzzline. Roger reveals that he is leaving New York for Santa Fe, which sparks an argument about commitment between him and Mimi, and Maureen and Joanne. Collins arrives and admonishes the entire group for fighting on the day of Angel's funeral. Maureen and Joanne realize their fighting is petty, and they reconcile. Mimi tries to go to Roger, but he turns away. After everyone leaves, Mark confronts Roger about his behavior towards Mimi. As the two friends fight, Mark reveals that Roger's feelings aren't jealousy towards Benny, but fear of losing Mimi to AIDS. As Roger leaves, he runs into Mimi, who tells him that she heard everything and just wanted to tell Roger goodbye ("Goodbye Love"). Benny and Mark take Mimi to a rehab center. Collins is forcibly evicted from the church for being unable to pay for Angel's funeral. Benny shows some compassion and pays for it himself. Admitting that even he felt affection for Angel, Benny and Collins go to a bar to get drunk.
Feeling alone and conflicted, Roger and Mark separately reflect on their lives and on the past year with their friends. Both reach an artistic epiphany, as Roger finds his song in Mimi and Mark finds his film in Angel's memory. Roger returns to New York just in time for Christmas, and Mark quits Buzzline to work on his own film ("What You Own").
Worried about their children not answering their calls, the cast's parents leave several messages on their phones ("Voicemail #5"). On Christmas Eve, exactly one year after the start of the first act, Mark has finished his film and is ready to screen it. Roger has found his song but can't find Mimi anywhere. It is revealed that Benny's wife, finding out about Benny's relationship with Mimi, has pulled Benny out of the East Village. Collins enters with handfuls of cash, revealing that he reprogrammed an ATM at a convenience store to provide money to anybody with the code (A-N-G-E-L). Maureen and Joanne abruptly enter carrying Mimi, who is very weak and close to death. She begins to fade, but not before telling Roger that she loves him ("Finale A"). Roger tells her to hold on as he plays her the song he wrote for her, which reveals the depths of his feelings for her ("Your Eyes"). Mimi appears to die, but suddenly awakens. She says that she was heading into a light, but Angel told her to go back. The surviving Bohemians gather together to rejoice and resolve to enjoy whatever time they have left with each other and reaffirm that there is "no day but today" ("Finale B").