Are you thinking about going to live and study in Milan but still don’t know what to expect for your finances? Check this out and discover more about the cost of living in Milan for students.

Moving to a foreign country for a study abroad program is a unique experience that every young person should do in their 20s.
And if you are going to live such a great adventure, consider yourself pretty lucky…it is going to be unforgettable! This way, you have the chance to learn new languages, broaden your horizons, meet new people and get to know their cultures. However, this is an .. to improve your personal and professional skills. 

Italy, a country rich in culture, history, art and amazing landscapes has been a main destination for students and travellers over the centuries.
In the last decades, due to cultural exchange programs, such as Erasmus, the international mobility toward the Italian peninsula has increased even more!

Even though we are talking about a quite affordable country (compared to the US or the Northern European countries), some of the bigger cities such as Rome, Florence, Venice or Milan have increased the prices a little bit.

Keep reading and learn more about the cost of living in Milan for students.

Is it expensive to live in Milan? 

In Italy, the overall living costs for young internationals may vary 700 € 1,000 € per month. When calculating these costs, you have to include: accommodation, public transportation, food, entertainment.

This average amount rises a bit if you choose a big, multicultural and modern city as Milan is. The cost of living in Milan - the Italian financial hub and fashion capital - is more expensive when compared to other Italian cities, especially the Southern ones. In fact, it may range between 850 € and 1,450 € per month.

But no worries, you can have fun and live an unforgettable experience on a budget. You just have to collect the most information you can about the cost of living in Milan and plan accurately your expenses.

Here we are with a few tips for you…have a look below! 

Cost of housing in Milan

This housing cost clearly varies depending on several things: type of accommodation, neighborhood, size, furnished or not, agency fee, etc.  

In terms of areas, you can choose between living in the centre of Milan (which is, by the way, the best option for international students), or close to university campuses in the further areas.
In the first case, you'll have all the perks of living surrounded by the best shops, restaurants, nightlife and touristy spots. But the rental prices are way higher here.
In the second case, you will live in a quiet and calm atmosphere of the suburbs, probably with larger spaces and you can reach the city centre anyway, due to the excellent public transportation services. 

What to expect from renting an accommodation in Milan?

Any housing agency or landlord will ask you to pay a security deposit (corresponding to 1 or 2 months rent) and, if it’s an agency, there will be an agency fee as well.

At helpHousing, we want to make the abroad experience of our young internationals as smooth and fun as possible. Therefore we assist them from the beginning, the flat-hunting and along their entire stay in Milan. We provide them quality accommodations, personalised assistance and many housing services are included: wifi, cleaning services and technical maintenance. 

Average prices depending on the type of accommodation in Milan

You can expect to pay between 500 and 1200 EUR/month for student housing in Milan.
Prices clearly vary depending on the type of accommodation.

- Room for rent in Milan. A shared apartment where you live with other students is the best option to reduce your monthly expenses. The room rental price ranges between 500 and 800 EUR/month. It is higher when it comes to the central and most famous neighbourhoods in Milan. But it also varies on furniture, utilities included or not, private bathroom, etc. So, make sure to read all the details during your booking process.

- Shared rooms in Milan. This is an even cheaper option for flat-sharing. If you don’t have any kind of problem with splitting your personal space with someone else, you can live in a big shared room and definitely manage your money even better!

- Studio or 1 bed apartment in Milan. If you would rather live alone and your budget allows it, you can choose this option, which goes from 1000 to 1500 EUR/month. A studio is a one big space which hosts a bed, a living room, a kitchen and a bathroom. It’s perfect for one person, for couples or to share with a close friend.

Ps. Do not forget to take into account the utilities. Many landlords do not include them in the rental fee, therefore you should calculate an extra cost ranging between 80 and 250 euros per month. It depends on the size of the accommodation and the number of people you are splitting the apartment with. 

Transportation in Milan

Spending a semester or year abroad in Milan will allow you to save a lot on transportation costs and to fully enjoy the city!
Milan boasts a great public transportation system made up of metro, urban buses and trains and suburban buses and trains. You can also find several alternative means of transportation for a very cheap price such as taxi, Uber and car/bike/moto sharing.  

Click here to check out all the types of seasonal tickets for the ATM public transportation.

Young people under 27 years of age only pay 22,00 € per month! While the regular adult monthly card costs 39 €.

Local and national travels by train 

The Italian train network is pretty fast and has good maintenance (beside some delays which really annoy Italian people tho!). You can travel by fast trains and pay around 20 euros if you book tickets earlier, sign up to newsletters or look for discounts. This way you will be able to visit many other Italian cities from Milan, such as: Venice, Rome, Turin, Florence, Bologna, or Naples!

Food and dining in Milan

The budget for groceries, if you buy from local supermarkets, will be around 150/200 euros per month. Companies such as Esselunga, Lidl or Penny Market have some of the lowest prices and still good quality products.

If you have lunch or dinner at a mid-range restaurant, consider that a meal with antipasto (appetizer) and pasta dish may cost you around 20 euros. If you add the second course (meat or fish), consider between 10 and 20 euros more. The restaurants in Italy charge the customers with a fixed fee for the service, but the tip is not compulsory here (people from the US will be surprised for sure!)

A few tips for saving money on food:

The university cafeteria usually offers cheap meals and beverages. But the real turn on is the Italian street food: slices of pizza for 2 or 3 euros, delicious quality sandwiches, gelatos and many multicultural dishes from the several places in town.

In most of the bars or pubs there’s the takeaway option and it is way cheaper than if you choose to eat or drink at a table. Therefore, if your goal is to save money, you can simply order and enjoy it at home with your friends or have a picnic in the beautiful Sempione park.

Another way to eat for an affordable price is going for an Aperitivo (the Happy Hour) usually between 6pm and 9pm, where if you get a drink for around 6/10 euros you can get access to a free buffet. It’s amazing, isn’t it?!

Italian sim card and Internet 

If you are from a European country and you’re coming to live in Milan for a semester or a year, no worries, you won’t need any Italian Internet plan or sim card. Your phone company will cover you for international calls. Anyways your Internet datas will be reduced, but wifi is literally everywhere!  

But if you’re from a non-European country, you will need to buy an Italian sim card with a good Internet plan at least. Depending on the provider, the monthly fee can go from 30 to 50€ per month. You can also choose a prepaid sim card, perfect to save money.

Cost of entertainment in Milan

For entertainment and leisure activities in Milan you may add another 30/50 euros per week. It sure depends on the kind of events you are attending. Erasmus parties and social meetings are the cheapest ones.
However, Milan boasts some of the best clubs in the country that are worth a visit…but get ready: they’re not on a budget!

We hope our information about the cost of living in Milan for students will be useful to your budget planning.

We wish you a great experience abroad and we hope to see you soon in Milan!