🇮🇹 Cost of Living in Milan - Prices & Budget Guide
Last updated: March 2026
Economic Indicators
GDP per Capita (PPP)$62,014 (2024)
Inflation Rate1.0% (2024)
Health Spend per Capita$3,398 (2024)
Out-of-Pocket Health Spend22.3% (2024)
Education Spend (% GDP)4.1% (2022)
Source: World Bank Open Data
The cost of living in Milan is generally expensive, with a daily budget of $120-200 USD per person for mid-range travelers, making it one of the pricier cities in Europe.
Quick Facts
Cost LevelExpensive
Daily Budget (Backpacker)$80-120 USD
Daily Budget (Mid-Range)$120-200 USD
Daily Budget (Comfort)$250-350 USD
CurrencyEUR
Tipping Customexpected (5-10%)
How Expensive Is Milan?
Milan is one of the most expensive cities in Italy, with a cost of living that is significantly higher than the national average. Compared to other European cities, Milan is more expensive than Rome, but slightly less expensive than cities like Zurich or Paris. The city's high cost of living is driven by its strong economy, high demand for housing, and a thriving tourism industry. Visitors to Milan can expect to pay premium prices for accommodations, food, and transportation, especially in the city center.
Overall, Milan is a city that offers a unique blend of style, culture, and entertainment, but it comes at a price. Travelers who are looking for a more affordable experience may want to consider visiting during the off-season or exploring neighborhoods outside of the city center. However, for those who are willing to pay a premium, Milan offers a wealth of experiences and attractions that make it a worthwhile destination.
Accommodation Prices
Type
Price Range (USD/night)
Notes
Hostel/Budget
$30-60
Shared rooms and basic amenities
Mid-Range Hotel
$100-200
3-star hotels with standard amenities
Luxury/Resort
$300-500
5-star hotels with high-end amenities
Apartment Rent (monthly)
$1,200-2,500
City center apartments, 1-2 bedrooms
Food & Dining Prices
Meal Type
Price Range (USD)
Street Food / Local Eatery
$10-20
Casual Restaurant
$20-40
Mid-Range Restaurant (2 people)
$60-100
Fine Dining
$150-250
Beer (local)
$5-10
Coffee
$2-5
Water (1.5L bottle)
$2-5
Transport Costs
Transport
Cost (USD)
Local bus/metro ride
$1.50-3.00
Taxi (per km)
$2.50-5.00
Domestic flight
$100-200
Fuel (per liter)
$1.50-2.50
Monthly Budget Breakdown
Category
Budget ($)
Mid-Range ($)
Comfortable ($)
Rent
800
1,500
2,500
Food
500
800
1,200
Transport
100
200
300
Utilities
150
250
350
Entertainment
200
400
600
Total
1,850
3,150
4,950
Money-Saving Tips
Consider staying in neighborhoods outside of the city center, such as the Navigli or Porta Romana areas, which offer more affordable accommodations and a more local experience.
Take advantage of Milan's public transportation system, which includes buses, trams, and metro lines, to get around the city.
Eat at local trattorias or osterias, which offer more affordable and authentic Italian cuisine.
Visit the city's many museums and cultural attractions on free or discounted days, such as the first Sunday of the month.
Explore the city's many parks and gardens, such as the Parco Sempione or the Giardini Pubblici, which offer a peaceful escape from the city's hustle and bustle.
Avoid shopping at high-end designer boutiques, and instead explore the city's many markets and vintage shops, which offer more affordable and unique shopping experiences.