Milan, Lombardy, Italy
Italy's fashion and financial capital, a global hub for design, business, and culture with the iconic Duomo and world-class shopping.
Very High vs Italy avg (100)
Very Expensive
Household income
Job market health
Milan vs Italy Average
Taxes
- Income Tax: 27.0%
- VAT: 22.0%
Economy & Jobs
- Median Income: €38,000
- Unemployment: 5.5%
- Population: 1,396,000
Climate
- Sunny Days: 190/year
- Summer High: 86°F
- Winter Low: 30°F
Housing
- Median Home: €450,000
- 1BR Rent: €1300/mo
Cost of Living
Milan's cost of living index is 130 (Italy average = 100).
| Category | Milan | National Average | Difference |
|---|---|---|---|
| Overall | 130 | 100 | +30.0% |
| Housing | 170 | 100 | +70.0% |
Data source: ISTAT / Numbeo, 2026
Housing Market
| Metric | Value |
|---|---|
| Median Home Price | €450,000 |
| Median Rent (1BR) | €1300/mo |
| Median Rent (2BR) | €1,625/mo |
| Price per Sq Ft | €300 |
Data source: Idealista / Immobiliare.it, 2026
True Cost of Home Ownership
Utilities
Estimated monthly utility costs for a typical household in Milan:
| Utility | Estimated Monthly Cost | Notes |
|---|---|---|
| Electricity | €100 | Based on ~3,500 kWh/year typical Italian household usage |
| Heating & Cooling | €61 | Estimated based on local climate. electric or gas heating |
| Cooling (AC) | €1 | Estimated based on local climate and electricity rates |
| Water | €35 | Includes sewer |
| Internet (100+ Mbps) | €30 | Broadband average |
| Garbage / Trash | €20 | Private service |
| Total Utilities | €247 | Monthly estimate (including heating & cooling) |
Data sources: ARERA, Enel, ENI 2025
Best Neighborhoods
Downtown Milan
The heart of the city with restaurants, shops, and entertainment. Average rent: €1,560/mo.
Milan Heights
Trendy area with local businesses and a mix of historic and modern housing. Average rent: €1,430/mo.
East Milan
Up-and-coming neighborhood with new developments and young professionals. Average rent: €1,170/mo.
West Milan
Family-friendly area with parks and good schools. Average rent: €1,235/mo.
Remote Work Score
Milan scores —/100 for remote work readiness:
Climate
Milan has a varied climate with distinct seasons.
| Month | Avg High | Avg Low | Rainfall |
|---|---|---|---|
| January | 50°F | 30°F | 2.5" |
| April | 71°F | 45°F | 2.8" |
| July | 86°F | 61°F | 1.5" |
| October | 66°F | 48°F | 2.2" |
Taxes
- Income Tax: 27%
- VAT: 22%
- Property Tax: ~0.76% of assessed value
Economy & Jobs
Major industries include technology, healthcare, education, and manufacturing. The unemployment rate is 5.5%.
Important Disclaimer: All data on this page is for informational purposes only and does not constitute financial, legal, tax, or real estate advice. URCity and Northshore Press are not financial advisors, tax professionals, or real estate agents. Always consult qualified professionals before making relocation or financial decisions.
Frequently Asked Questions
What is the cost of living in Milan, Lombardy, Italy?
The cost of living index in Milan is 130, which is Higher the Italy national average of 100.
How much does it cost to buy a home in Milan?
The median home price in Milan is €450,000. The housing index is 170.
What is the average rent for a 1-bedroom apartment?
The average rent for a 1-bedroom apartment in Milan is approximately €1300/mo.
Does Milan, LOM have income tax?
Milan is in LOM, which has an income tax rate of 27%.
What is the climate like in Milan?
Milan enjoys approximately 190 sunny days per year. Summer highs reach around 86°F, while winter lows can drop to around 30°F.
Data Sources
- Cost of Living: ISTAT / Numbeo, 2026
- Housing Data: Idealista / Immobiliare.it, 2026
- Income & Employment: ISTAT Labour Force Survey, 2024
- Utilities ARERA, Enel, ENI 2025
Data last updated: July 12, 2026. Data may not reflect current market conditions. Always verify with local sources before making relocation decisions.