Cost of Living in Italy
The cost of living in Italy can fluctuate greatly depending on whether you live in the north or south. The northern part of the boot-shaped nation tends to be much wealthier than its southern counterpart, and thus prices in the big cities like Milan are considerably higher than those that expats will find in the rural areas.
Overall, expats should realise that Italy consistently appears toward the top of cost of living indexes in the EU.
As in any location, monthly expenses vary depending on what kind of expat lifestyle you choose to adopt. It’s possible, for example, to pay between €50 and €100 for a meal at a medium-range restaurant, and up to €300 on a three-course meal at a top-end establishment.
As a general indication, monthly expenses for an average single person paying for housing, food, utilities, leisure, transport, health insurance and clothing can cost anything upwards of €975. A family of four will have to pay approximately €1,995 for the same expenses.
Around 25% of an average Italian’s family budget will be spent on accommodation. Depending on where you live in Italy, property prices and rentals will vary considerably. To rent an apartment in Naples may cost you €550 per month, but double that for the same apartment in Milan or Rome. A small 50m² rental apartment in Rome can cost around €1000 per month, which is three times what you would pay in a rural area for an apartment of the same size.
Increasingly, there has been a demand for retirement and second homes from both Italians and foreigners, as there are still many rural properties offering good value for money. The cost of living in these more remote parts is much lower than it is in the city centres, and one can in fact live quite frugally here compared to other parts of Europe.
Overall, expats should realise that Italy consistently appears toward the top of cost of living indexes in the EU.
As in any location, monthly expenses vary depending on what kind of expat lifestyle you choose to adopt. It’s possible, for example, to pay between €50 and €100 for a meal at a medium-range restaurant, and up to €300 on a three-course meal at a top-end establishment.
As a general indication, monthly expenses for an average single person paying for housing, food, utilities, leisure, transport, health insurance and clothing can cost anything upwards of €975. A family of four will have to pay approximately €1,995 for the same expenses.
Around 25% of an average Italian’s family budget will be spent on accommodation. Depending on where you live in Italy, property prices and rentals will vary considerably. To rent an apartment in Naples may cost you €550 per month, but double that for the same apartment in Milan or Rome. A small 50m² rental apartment in Rome can cost around €1000 per month, which is three times what you would pay in a rural area for an apartment of the same size.
Increasingly, there has been a demand for retirement and second homes from both Italians and foreigners, as there are still many rural properties offering good value for money. The cost of living in these more remote parts is much lower than it is in the city centres, and one can in fact live quite frugally here compared to other parts of Europe.
