Cost of Living & Salary Comparison 2026
Yes, Milan is 34% cheaper than London based on our cost of living index. Milan has a COLI of 57.8, while London has a COLI of 87.5. 34% cheaper
Overall, Milan is approximately 34% cheaper than London based on our cost of living index. London has a COLI of 87.5 (ranked #6 of 182 cities), while Milan has a COLI of 57.8 (ranked #51).
When it comes to housing, one-bedroom apartment rent in London averages $2,500/month compared to $1,400/month in Milan. That makes Milan approximately 44% cheaper for rent alone.
London has lower total deductions (26.6%) compared to Milan (35.8%), meaning you keep more of your gross salary in London. When evaluating a relocation, remember that total deductions directly impact your take-home pay and should be weighed alongside cost of living differences.
Full breakdown of mandatory payroll deductions for a mid-range salary as a local employee in each city.
Rates shown for local employees. Expat deductions may differ — use the main converter for personalized calculations.
If you earn £56,476 in London, you would need approximately €42,007 in Milan to maintain the same purchasing power. That is 34% less thanks to lower cost of living.
Estimated mid-level annual salaries in local currency, adjusted for each city's cost of living:
| Job Title | London (GBP) | Milan (EUR) |
|---|---|---|
| Doctor (General) | £118,599 | €88,215 |
| Software Engineer | £56,005 | €41,657 |
| Product Manager | £65,889 | €49,008 |
| Lawyer | £65,889 | €49,008 |
| Data Scientist | £62,594 | €46,558 |
| Marketing Manager | £47,440 | €35,286 |
| Teacher | £31,627 | €23,524 |
| Nurse | £38,215 | €28,425 |
Salary estimates are adjusted by each city's COLI relative to the New York baseline. Actual salaries vary by company, experience, and industry.
| Neighborhood | Multiplier |
|---|---|
| Mayfair | 1.45x (+45%) |
| Chelsea | 1.38x (+38%) |
| Kensington | 1.35x (+35%) |
| Marylebone | 1.32x (+32%) |
| Hampstead | 1.30x (+30%) |
| Neighborhood | Multiplier |
|---|---|
| City Centre | 1.35x (+35%) |
| Brera | 1.30x (+30%) |
| Porta Nuova | 1.25x (+25%) |
| Garibaldi | 1.18x (+18%) |
| Navigli | 1.15x (+15%) |
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Open Salary ConverterLondon is more expensive overall. London has a COLI of 87.5 while Milan has a COLI of 57.8, making Milan approximately 34% cheaper.
To maintain the same standard of living as £56,476 in London, you would need approximately €42,007 in Milan.
Average one-bedroom rent in London is $2,500/month compared to $1,400/month in Milan. Milan has lower rent by approximately 44%.
London has lower total deductions (26.6%) compared to Milan (35.8%), meaning you keep more of your gross salary in London.
Cost of living indices (COLI) are benchmarked to New York City = 100 and derived from Numbeo and Expatistan crowd-sourced price surveys, cross-referenced with national statistics agencies. Rent data from Numbeo Property Prices.
Salary ranges are compiled from the U.S. Bureau of Labor Statistics (OES), Glassdoor, and PayScale. Tax rates are approximate effective rates for mid-range earners based on OECD Taxing Wages and national tax authorities. Exchange rates from the European Central Bank. Neighborhood multipliers are estimated from local rental indices and property data.
Last updated: 2026-02-28. Data is refreshed periodically. All figures are estimates for informational purposes only.