Understanding the cost of living in Italy is important for anyone considering a move to this beautiful country. Italy is a large country with thousands of locations to choose from, and the living cost in Italy can vary significantly depending on the city or town you want to live in, the size of your household, and your lifestyle.
How much money do I need to live in Italy?
Our Italy Cost of Living Calculator allows you to estimate your monthly budget needed to live in Italy based on your individual preferences, by looking at key factors like rent, utilities, food, and other expenses, using the widely-popular 50/30/20 budgeting rule.
All amounts are expressed in Euros, Italy’s official currency. Enter your preferences in the calculator below to find out how much money you would need to cover the cost of living in Italy.
How Does the Italy Cost of Living Calculator Work?
First, you enter your desired location: region and city or town. Second, you enter the number of persons in your household.
Next, by clicking on “See expense breakdown” you can see the typical essential expenses you should expect to pay in your selected location for the number of persons provided. You may choose to edit these expenses if you wish.
Based on your selections and edits, the calculator will automatically display the total estimated budget needed. This is your personalized cost of living in Italy.
The “budget needed” amount is expressed per month and per year, for your convenience. This amount is calculated as a total of average rent for a two-bedroom apartment, utilities, and expenses, which account for 50% of the budget, plus discretionary spending, the equivalent of 30% of the budget, and savings and debt repayment, representing 20%.
What Is the 50/30/20 Rule
The 50/30/20 rule is a simple budgeting guideline that helps individuals manage their finances effectively by allocating their income into three main categories: 50% for needs, 30% for wants, and 20% for savings and debt repayment.
Needs include essential expenses such as housing, utilities, groceries, and transportation, which are necessary for daily living. Wants cover non-essential expenses like dining out, entertainment, shopping, traveling, which enhance your lifestyle but aren’t strictly necessary.
The final 20% is dedicated to building financial security through savings, investments, and paying off any debts, helping to ensure long-term financial health. This rule provides a balanced approach to managing money, making it easier to maintain financial stability while enjoying life.
Average Utility Costs in Italy per Person
The typical utilities in Italy for most households are gas, power, internet services, tv, and phone. The cost of gas will be higher in colder regions, where gas heating is used for several months per year, such as in Northern and Central Italy, while in the regions further to the South, this expense will be replaced by the cost of electricity, where many households do not have a gas connection and the power consumption may be higher than in the North.
Estimated average monthly costs of utilities per person living in an apartment in Italy:
- Gas: €107
- Electricity: €45
- Home Internet: €23
- TV Streaming: €6
- Mobile Phone: €6
- Total Utility Costs: €187
Why Use a Cost of Living Calculator?
This tool is perfect for expatriates, students, and retirees looking to relocate to Italy and wanting to understand how much money they’ll need to live comfortably or want help with choosing a location that is within their budget. For instance, rent in Milan, Lombardy or Florence, Tuscany can be two or three times as expensive as rent in Catania, Sicily or Martina Franca, Puglia. Understanding the variances in cost of living in Italy’s different towns and cities is a critical step in planning your finances for a move abroad.
Disclaimer and Methodology
All costs used in My Dolce Casa’s Cost of Living Calculator are estimates and averages based on the public data available, and are for informational purposes only.
All amounts are expressed in Euros (€), the official currency in Italy.
The utility prices used are national averages. Utility prices may change and may vary depending on the location and the local utility providers. You should always check the most current and accurate prices with your local utility providers before making a decision.
The rent prices used are monthly averages by location for a long-term lease on a 75-sqm apartment (approximately a two-bedroom apartment), per My Dolce Casa’s Italy Rent Report. Rent prices may change. Rent prices may vary depending on your personal living space and convenience needs. You should always check with a local real estate agent or adviser before making a decision.
This Italy Cost of Living Calculator is the Copyright of My Dolce Casa. All rights reserved.
The information of this page is free to use or cite only with proper credit to My Dolce Casa and a link to this page.