How much does it cost to live in Milan?

Typical monthly costs in Milan are approximately €1,600 in rent and €1,300 in other expenses, totalling around €2,900/month.

How much should I save in Milan?

Based on Istat HBS 2022, people at mid-range incomes in Italy typically save 12–20% of gross income. In a high cost city like Milan, housing costs can reduce this, particularly for renters.

Milan · EUR · high cost city

Cost of living in Milan — is your salary enough?

Milan median rent is around €1,600/month for a 1-bed, the highest in Italy and increasingly competitive with northern European cities. Milan is Italy's highest-income city, but rising rents have eroded the savings advantage for mid-income earners.

Rent in Milan

Budget€1,200 – €1,450/mo

Typical€1,600 – €1,850/mo

Premium€2,100+/mo

Other monthly costs

Food, transport, bills, going out~€1,300/mo

Total typical monthly spend~€2,900/mo

How different incomes stack up

At typical Milan costs (€1,600 rent)

€18,000 – €26,000→ saving -58.2%

Critical

€26,000 – €36,000→ saving -12.3%

Critical

€36,000 – €50,000→ saving 19.1%

Ahead

See your personal verdict for Milan

Country

Annual income (gross)€28,000

€8,000€104,000€200,000+

Monthly rent or mortgage€1,600/mo

€0€2,500€5,000+

Other monthly expenses

Food, transport, subscriptions, going out — everything except rent

€1,100/mo

€0€2,250€4,500+

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Cost figures are estimates based on reported median rents and typical spending patterns. Savings benchmarks from Istat HBS 2022. Figures in EUR.

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Also in the Verdict suite

SalaryVerdict — Is your Milan salary competitive?SpendVerdict — Is your Milan rent too high?