Though it exists, you'll need a lot of good luck to find an apartment in Milan with a monthly rental fee that doesn't cost €1,000.00 or up. Most of the places in this highly urbanized city have sky-high prices in terms of rent. The only type of place with a monthly rental fee below €1,000.00 is a one-bedroom apartment along the outskirts of the city. The lowest possible price for such is €600.00 per month. At the same time, the median price for a one-bedroom in the heart of Milan is €1,163.82 and for a three-bedroom in the same location, it's €2,551.21.
As expected, buying a property in Milan is a lot more expensive. In fact, the price per square meter for a place in this city is a lot more expensive than that of its monthly rental fee. For instance, the range of prices for renting a one-bedroom apartment in the city center is from €800.00 to €1,600.00 a month. Meanwhile, the price per square meter for a property in the same location ranges from €6,000.00 to 10,823.65! Consider how many square meters it takes for a standard apartment and you might just get overwhelmed by the total price you have to pay.
At least, when it comes to your utilities expenses, you don't have to break the bank. Here in Milan, the costs for such are practically similar to those in Rome. The median total of all your basic monthly expenses is €168.28, already including your electricity, water, heating, and other types of bills. The maximum total for such is €283.33, which still isn't that bad. Simultaneously, paying for internet connection in your home would cost around €25.00 to €35.00 a month as well. Also not as bad as your rent or buying your own property in the city.
What's also incredibly shocking is grocery shopping is yet another inexpensive cost here in Milan. You don't always get to hear (or read) the words 'inexpensive' and 'Milan' in the same sentence, so this is a bit of an anomaly itself! Still, the total median price for various foods and other grocery items is €78.50. It's less than €100.00! And if you're wondering what this price already accounts for, it includes a dozen eggs, a liter of milk, a kilogram each of various fruits, vegetables, and meats, as well as a 1.5 liter of water and some alcohol.
The very affordable food costs in Milan often convince people here to cook for themselves rather than go out. It's no secret that this city is home to a lot of swanky establishments, some perfect for special occasions while a good many others are suitable for a business meal with clients. Of course, if you're on a budget, these are the types of places to avoid. But inexpensive restaurants and mid-range places won't let you shell out tons of money for a meal. In fact, in such places, the most expensive meal out there Milan only costs a maximum of €100.00, and that's already for a three-course meal for two!
Public transportation isn't as expensive in Milan as you might think. Well, if you take a taxi and go to a far off destination or you get caught in a traffic jam, of course your expense will be high. But if you choose to ride the bus, take the train, and the like, you'd practically spend less than €30.00 for each ride. Perhaps the most expensive is purchasing a monthly pass, which can cost up to €50.00. But this nifty ticket of sorts will give you unlimited access to various public transport systems in Milan, so it's pretty much a wise investment!
To absolutely no one's surprise, shopping in Milan can get pretty expensive. What do you expect? This is Milan! Home of the likes of Versace, Fendi, Prada, and more! Just a measly wallet from these brands would already cost hundreds of Euros. What more for an actual piece, a suit, and more? But if you still want to save even a tiny bit of your money when shopping in Milan, you'd do better by doing so in any of the city's designer outlet stores or mid-range labels. A new pair of running shoes from a sportswear brand, for instance, would only cost you about €60.00 to €130.00.
Leisure costs in Milan, on the other hand, can also become affordable depending on where you invest your money. Among the many great gyms and fitness clubs in Milan, a good number of them are high-class luxury establishments. These are the types of places you'd want to avoid if you want to budget your money wisely. Instead, getting a membership in a mid-range gym would only cost around €30.00 to €100.00 a month. And fortunately, tickets for movies also come cheap here! The most expensive you have to pay for is €13.00!
Finally, arguably the highest expenses you have to pay in Milan are your kids' education. Milan is home to a good number of prominent schools, some of which are even internationally-renowned. If you want the best of the best for your child in terms of education, get ready to invest a lot of money. A term in a private kindergarten alone would cost around €500.00 to €900.00. And when he/she grows up and you want to enroll him/her to an international primary school, the tuition for such is around €5,000.00 to €21,000.00 a term!
Here in Milan, you get what you pay for! If you want to live out the glamorous and fashionable lifestyle that the city is known for, you'll have to fave high expenses here! But don't worry! They're there to help you live your best life here!
If you're well-off enough to live here, surely you can also afford to stay at a Milanese luxury rental. It makes residing in this glamorous city all the more worth it!