What Is The Cost Of Living In Italy?

What Is The Cost Of Living In Italy?

January 31, 2023 Off By Juliet D'cruz

Today we will discuss the cost of living in Italy as you know that it is an amazing country for expats. The country is located on the European continent and is extremely popular for its art, culture, food, beautiful locations, and architecture. Also, foods like pasta and pizza, artwork like Michelangelo’s Statue of David, and landmarks like the Colosseum are among the most famous things for which Italy is known. Without further delay let’s get started and know the cost of living in Italy.  

What Is The Cost Of Living In Italy?  

The cost of living in Italy varies depending on location, just like in the United States and other parts of Europe. Some big cities and the Northern region of the country are generally the most expensive. But, they are less expensive than the top cities in the USA. Therefore, it is best to opt for a medium-sized town that offers the best of both worlds. To learn more about the cost of living in Italy in U.S. dollars compared to the cost of living in the USA refer to the table given below. It is showing the cost of living differences in Italy and the USA 

Cost Of Living For ItalyUSA 
Grocery$250$438
Grocery $250$438
Transportation $39$98.8
Utilities $220$117.46
Health $40$12,530
Entertainment$150$243
Shopping $150$165
Rent$650$1,326

Home Rent 

Housing cost is one of the important factors while calculating the average cost of living in Italy. In Italy, rent a small one-bedroom apartment near the city center in a major city, and you are likely to spend around $1,150 to $1,400 per month. In general, living in cities like Rome or Milan is comparable to living somewhere like New York City or London. Here is a table showing the approx rent of one and two-bedroom apartments in different cities in Italy, including the cost of living in Rome Italy as well as the cost of living in Milan Italy. 

City Approx 1 Bedroom Rent Approx 2 Bedroom Rent 
Milan $690.43$1327.75
Rome$477.99$1026.20
Venice$637.32$1000.09
Florence$690.43$1061.16
Naples$509.86$839.14

Food Cost 

How much money do you need to live comfortably in Italy? Well, it depends on your lifestyle. But, the average monthly cost of living in Italy is around $2,912 for a family of four without home rent. In Italy, the typical meal cost is $14 to $17. In a smaller town, you can enjoy a great local meal for under $14 to $17. To know more about the cost of dinner refer to the table given below, which shows the approx dinner cost for two in different cities in Italy, including the cost of living in Naples Italy as well as the cost of living in Florence Italy.  

City Approx Dinner Cost For 2 
Milan $42.49
Rome$74.25
Venice$74
Florence$79
Naples$84.98

Travel Cost 

The cost of living in Italy for students also depends upon the cost of traveling. Unfortunately, the cost of living in Italy per month will be high because the fuel price in Italy is very high. One gallon of gas will cost you around $7.41 to $9.05. Most prices in Italy are comparable to or lower than in the United States, you will need to budget more for fuel than you would at home.  

Other Expenses 

The other expenses also have a great contribution to the cost of living in Italy for 3 months or more. Let’s know them in detail. 

Health Care 

The cost of living in Italy for international students will be less because of the low healthcare cost. Italy has the world’s best healthcare system. With its national healthcare plan, you can expect to pay less than you would in the United States. 

Utility Bills 

In Italy, the cost of the utility for an 85 sq meter apartment would usually be between EUR 100 to EUR 150.  

Internet Bills 

In Italy, the average fee for new customer offers is currently around 27.36 Euros per month, and old customers, who chose to switch operators can save an average of 13.29 euros per month.  

Fitness 

The cost of fitness will be high in larger cities and low in smaller cities. The price in a larger city can be 25,00 euros per day or a monthly membership between 150,00 to 200,00 euros.  

Entertainment 

In Italy, general entertainment and recreational costs can be around 40 euros per month for a single person.  

Taxes 

The standard tax rate of corporate tax is 24%. In addition, local tax is imposed at a rate of generally 3.9% bringing the effective tax rate to 27.9%.  

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FAQ

Is It Cheaper To live in Italy Or USA?

United States is 49% more expensive than Italy

How Much Do You Need To Make To live In Italy?

Housing costs aside, singles can enjoy a comfortable lifestyle in northern and central Italy on an annual income of around $18,000 to $28,500. Couples may require an income of between about $28,500 and $45,500 euro.

Can You Move To Italy Without A Job?

Italy makes it possible for people who can sustain themselves financially without working to move to Italy through the Elective Residence visa.

What Is The Cheapest City To live In Italy?

Abruzzo. Located to the east of Rome, Abruzzo is arguably the cheapest and the best region to live in Italy. It has great mountains, fantastic scenery, good food, lovely Italian people and plenty of expats.

Can I Collect Social Security If I Move To Italy?

Normally, persons who are not U.S. citizens may receive U.S. Social Security benefits while outside the U.S. only if they meet certain requirements. Under the agreement, however, you may receive benefits as long as you reside in Italy regardless of your nationality.

Conclusion 

In this article, you have come across the cost of living in Italy with rent and without rent in detail. Many tourists are under the impression that Italy is expensive. And, of course, if you have a cup of coffee at St. Mark’s Square in Venice, all your fears are likely to be confirmed. But the truth is, outside the tourist hot spots you do not have to spend a fortune to enjoy the sweet life. This is all about the cost of living in Italy.