Cost of Living in Milan for Students
Milan is one of Italy’s most vibrant cities, known for its world-class universities, culture, and career opportunities. But how much does it actually cost to live here, particularly as an international exchange student? Between rent, utilities, groceries, and other daily expenses, budgeting wisely is essential.
If you're planning to study in Milan, here’s a breakdown of the average cost of living and what to expect financially.
Rent: The Biggest Expense
Accommodation is typically the largest expense for students, with Milan commanding the highest rental rates in Italy. Rental prices depend on location and type of housing:
Student residences & co-living spaces: €750–950 per month (per room)
Studio apartments (living alone): €1,000–1,200 per month
1-Bedroom apartments (living alone): €1,100–1,300 per month
👉 On average, most students pay €800–1000 per month for rent, inclusive of fixed expenses (condominium fees).
Utilities & Bills
If your rent doesn’t include utilities, as is often the case, expect to budget separately for electricity, gas, and internet. Estimated monthly costs:
Electricity & Gas: €80–120
Internet: €25–35
Waste collection (TARI): €20
👉 Total estimated bills: €125–175 per month.
PRO TIP: Use electricity responsibly. Italy's average residential electricity rate in 2024 was approximately $0.457 per kilowatt-hour (kWh), this is more than double the European average and nearly three times the U.S. average. In real terms, utilising a typical 1.5kW air conditioner for 12-hours per day in Italy would cost you approximately €227 per month alone!
Groceries & Food
Your grocery bill will depend on your eating habits, but most students spend around €200–300 per month on food. Eating out is common in Milan, but prices vary:
Coffee: €1.50
Pizza or pasta at a casual restaurant: €10–15
Aperitivo (drink + food buffet): €8–12
Fast food: €8–10
To save money, many students cook at home or take advantage of university canteens.
PRO TIP: Discover hidden gems with the Nest Milan, including our Top Restaurants Under €10!
Transport
Public transport in Milan is affordable and well-connected. Most students rely on the metro, trams, or buses.
Monthly student transport pass: €22
Single metro/bus ticket: €2.20
Bike & scooter rentals: €10–30 per month
Extra Expenses
In addition to the essentials, students should budget for entertainment, social activities, and personal expenses:
Gym membership: €30–50 per month
Mobile phone plan: €10–20 per month
Night out (two drinks + club entry): €20–40
Shopping & miscellaneous: €50–150 per month
Total Monthly Budget for Students in Milan
Rent (shared accommodation): €750–950
Utilities & bills: €125–175
Groceries & food: €200–300
Transport: €22
Extra expenses: €100–250
Total: €1,197–1,697
SAVING TIPS in Milan
💡 Live in shared accommodation instead of renting alone. Nest Student Apartments provide co-living solutions for both individuals and groups.
💡 Use electricity responsibly to avoid unexpected bills.
💡 Obtain a Student Transport Card for unlimited use of the metro, tram and bus network.
💡 Cook at home rather than eating out frequently.
💡 Take advantage of student discounts at museums, cinemas and gyms. Did you know that museums and galleries are free on the first Sunday of each month?!
Milan is a fantastic place to study, but planning your finances wisely is key to making the most of your experience.
Need help planning your upcoming student exchange? The Nest Milan is here to help:
