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Cost of living in Milan

Cost of living in Milan

Living costs and spending habits will differ considerably depending on your individual expectations and needs and, of course, on where you live, so it’s not easy to give advice that is suitable for everyone. First of all, you will need cash availability for travel, food and other expenses immediately upon arrival in Italy. Consider an amount of about € 200-250 cash to cover immediate needs. Carefully plan how and when to exchange your currency to get the best exchange rate. It is not advisable to bring larger amounts of cash unless you’re sure you’ll need it.

Before your arrival, plan your budget as carefully as possible and try to figure out if you can meet all the expenses, even considering unexpected and emergency costs. Below is a list of possible future expenses you may face (these costs are approximate and should be used as a guide only).

Milan is quite expensive, we all know that. If you are a new student or international student you can have many discounts, but you also have needs that other people don’t have… This short guide to the cost of living in Milan can be useful!

Cost of living in Milan, of course, may vary depending on your lifestyle, habits, and vices. Let’s see:

ACCOMMODATION
Rent a room or a flat in Milan is not cheap: the average price for a single room in Milan (in a good location) is around 500 euro while a double room (same area) is 350 euro. If you are thinking to move to a flat alone, prices for a “monolocale” (studio) start from 650/700 euro.

BILLS
If you live in a shared accommodation, probably the owner will tell you in advance if the cost of bills is included or not in the rent. If you are planning to rent a flat on your own you should consider these costs:

Gas: around 20 euro/month (average cost for summer/winter seasons);
Electricity: around 40 euro/month;
Garbage: around 200 euro/year

INTERNET, MOBILE AND TV
Same thing… It depends if these expenses are included or not in your rent.

For Internet (you will probably do not need a landline) you will pay around 30 euros per month, while for mobile there are many companies that with around 10 euros can give you 500/1000 monthly minutes, 500/1000 SMS and 4 GB of mobile internet. You can check websites of five main mobile companies in Italy: Vodafone, Wind, Tre, Tim, Fastweblycamobile.

TV: In Italy if you own a private tv at home you must pay a tax called “Canone Rai” for public television: the cost is 110 euro/year.

TRANSPORT
Milan public transport system works pretty well and, if compared with other European cities, it is quite cheap. Depending on your age, a monthly pass can vary from 22 euro (if you are under 26 years old) to 35 euro.

If you want to enjoy the city by bike you can always rent a bike with BIKE MI (public service). The first 30 minutes are always free! Also new bike which called Mobike.

You can find all the information you need about transport in Milan in this article.

Food
€ 150 – € 200 per month
The approximate prices of some basic items are listed below (in euros):

Milk: € 1.20/Litre
Bread: € 4.00/Kilo
Butter: € 1.70/250 gr
Beef: € 9.00-19.00/Kilo
Chicken: € 8.00-10.00/Kilo
Rice: € 1.70-2.50/Kilo
Pasta: € 0.80-1.20/Kilo
Mineral water: € 0.50-0.80/Litre
Study Costs
€ 40 per month

SPARE TIME
Having fun in Milan sometimes can be expensive, but there are several options to stay on budget. Let’s see the average cost of beer, apertivo(happy hour) and… Pizza:

BEER
A beer in a pub is around 5 euro, but most of the pubs usually have a special deal once per week with discounts (from 3 to 4 euros).

You can always buy your own/buy from peddler or small shops and enjoy open spaces (Colonne di San Lorenzo, Piazza Leonardo da Vinci, Piazza Duomo and so on…). In Milan there are no prohibitions for drinking an alcoholic beverage on the street, just pay attention that after 10 pm is not possible to drink in glass bottles.

APERITIVO
It consists of some snacks, which are usually served for free together with your pre-dinner drink. Milan’s aperitivo is simply the best in Italy. With the price of a drink (Usually between 5 to 10 euros) you have access to an all-you-can-eat buffet (pasta/pizza/rice and so on..). It usually lasts from 6 pm to 10 pm.

PIZZA
The most famous Italian dish. The average quality is high, and for a classic dinner based on pizza, beer and coffee you will pay around 5 to 10 euros.

Social life
€ 80 per month

Cinema: € 11
Eating out: € 25
Pizza: € 10
Fast food menu: € 5.50
Happy hour: € 8-10
Clubs and bars: € 10-20
Concerts: € 40-50
Private gym: € 40-50/month
University gym: € 15-20/month

You can find more details here.

We hope that this guide to the cost of living in Milan is useful and we will update it with new categories soon!

Ref: polinternational , erasmusmilan.

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