Recent research shows that Italy is the most popular homebuying destination for Americans in 2023, out of all countries in Europe and the Americas. The two primary reasons U.S. nationals are contemplating buying real estate in Italy are lifestyle and affordability. $200,000 is an average homebuying budget for many Americans who are moving abroad, which is about half the median U.S. home price, according to the St. Louis Fed.
Whether it’s a home to retire in, a vacation villa, or a house or apartment where you plan to start a new life, the most important questions that come up are, how much do properties cost in Italy and where should you buy?
Choosing a good location in Italy where you get the most value for your money is probably the hardest part for most wannabe expats who want to purchase a slice of la dolce vita. So My Dolce Casa’s research team looked at the sale price per square foot of real estate in Italy’s 30 largest cities and computed the average size house or apartment you can get for $200,000 in each of these locations.
As is the case in real estate, prices vary quite a lot depending on the location. On average, in Italy $200,000 buys you a 1,052-square-foot home, at a national average sale price of $190 per square foot. You will get the most space for your money, 2,222 sqft, in Reggio Calabria, in the Southern region of Calabria, and the least amount of space in Milan, the most cosmopolitan city in Italy, a small apartment of around 393 sqft. Somewhere in the middle you’ll find cities like Bari, Turin and Padua, where you can expect to buy around 1,000 square feet of home space for $200K.
Here’s how much space you can get for $200,000 in Italy’s largest cities, from the most to the least space:
As you might have heard, Milan, Rome and Florence are quite expensive in terms of real estate and cost of living. But you can find plenty of great deals in other wonderful Italian cities where you can also enjoy a nice standard of living and emerge yourself in the Italian culture.
Perugia, for instance, is a great choice to live in for expats, not just because of its stunning beauty and youthful vibe, but also because of its affordable real estate. For $200K you can buy a nice-sized 1,695 square foot home, which is a great deal for such a popular area. Perugia's population is just over 160,000, offering the amenities and activities of a large city at an affordable price.
Another hidden gem on this list is Bari, in the sunny region of Puglia. A moderately-sized, lively port city, Bari is a great place to live and property prices remain approachable here. For $200K, you can buy 1,075 square feet of space, which could be a large apartment or a mid-sized villa in town.
Ready for house-hunting? See how far will $200,000 take you in Italy's top 30 cities:
1. Rome, Lazio
- Population: 2,761,600
- Price per square foot: $307
- Home size for $200,000: 651 sqft
2. Milan, Lombardy
- Population: 1,371,500
- Price per square foot: $509
- Home size for $200,000: 393 sqft
3. Naples, Campania
- Population: 914,800
- Price per square foot: $265
- Home size for $200,000: 755 sqft
4. Turin, Piedmonte
- Population: 848,900
- Price per square foot: $189
- Home size for $200,000: 1,058 sqft
5. Palermo Sicily
- Population: 630,800
- Price per square foot: $132
- Home size for $200,000: 1,515 sqft
6. Genoa, Liguria
- Population: 560,700
- Price per square foot: $143
- Home size for $200,000: 1,399 sqft
7. Bologna, Emilia-Romagna
- Population: 392,200
- Price per square foot: $360
- Home size for $200,000: 556 sqft
8. Florence, Tuscany
- Population: 367,200
- Price per square foot: $416
- Home size for $200,000: 481 sqft
9. Bari, Puglia
- Population: 316,100
- Price per square foot: $186
- Home size for $200,000: 1,075 sqft
10. Catania, Sicily
- Population: 298,300
- Price per square foot: $122
- Home size for $200,000: 1,639 sqft
11. Verona, Veneto
- Population: 257,300
- Price per square foot: $240
- Home size for $200,000: 833
12. Venice, Veneto
- Population: 254,700
- Price per square foot: $451
- Home size for $200,000: 443
13. Messina, Sicily
- Population: 220,100
- Price per square foot: $102
- Home size for $200,000: 1,961
14. Padua, Veneto
- Population: 208,700
- Price per square foot: $204
- Home size for $200,000: 980
15. Prato, Tuscany
- Population: 200,800
- Price per square foot: $218
- Home size for $200,000: 917
16. Trieste, Friuli-Venezia Giulia
- Population: 200,600
- Price per square foot: $216
- Home size for $200,000: 926
17. Brescia, Lombardy
- Population: 196,900
- Price per square foot: $193
- Home size for $200,000: 1,036
18. Parma, Emilia-Romagna
- Population: 196,700
- Price per square foot: $224
- Home size for $200,000: 893
19. Taranto, Puglia
- Population: 189,200
- Price per square foot: $95
- Home size for $200,000: 2,105
20. Modena, Emilia-Romagna
- Population: 185,600
- Price per square foot: $233
- Home size for $200,000: 858
21. Reggio Calabria, Calabria
- Population: 171,800
- Price per square foot: $90
- Home size for $200,000: 2,222
22. Reggio nell'Emilia, Emilia-Romagna
- Population: 169,000
- Price per square foot: $190
- Home size for $200,000: 1,053
23. Perugia, Umbria
- Population: 163,600
- Price per square foot: $118
- Home size for $200,000: 1,695
24. Ravenna, Emilia-Romagna
- Population: 156,100
- Price per square foot: $197
- Home size for $200,000: 1,015
25. Livorno, Tuscany
- Population: 154,200
- Price per square foot: $199
- Home size for $200,000: 1,005
26. Rimini, Emilia-Romagna
- Population: 150,100
- Price per square foot: $276
- Home size for $200,000: 725
27. Cagliari, Sardinia
- Population: 148,900
- Price per square foot: $238
- Home size for $200,000: 840
28. Foggia, Puglia
- Population: 146,400
- Price per square foot: $109
- Home size for $200,000: 1,835
29. Ferrara, Emilia-Romagna
- Population: 131,100
- Price per square foot: $143
- Home size for $200,000: 1,399
30. Salerno, Campania
- Population: 128,100
- Price per square foot: $257
- Home size for $200,000: 778
Methodology:
- When using or citing this data, please give credit to My Dolce Casa by linking to this report
- Population data as of 2021. Source: Wikipedia
- Home prices per square foot are computed by My Dolce Casa and are valid as of August 2023
- The average home size in square feet was calculated by dividing 200,000 by the price per sqft in each location
- Some numbers may be rounded
