Are you thinking of coming to live here? So it is very important to know how expensive Florence is.
I will be writing here about the cost of living in the cradle of the Reianssance and especially I will underline some of the reasons to choose Florence

Why choosing Florence?

Living in Florence is a dream because this city, like few others, knows how to enter your heart with its timeless beauty and its rich history. The city is a fascinating treasure chest of artistic treasures, with masterpieces adorning every corner, from the best known such as Michelangelo’s David to the wonderulf sunset that can be seen from San Miniato al Monte.
Florence is a unique place that promises and then gives beauty and culture.
In addition to this there are many other reasons to live in Florence:
First of all the climate.
Let me explain: Florence is very hot during the summer. But not hotter than Bologna or Milan but unlike these cities it is fantastically perfect during the winter when, apart from 2 weeks of extreme cold (normally in January) the climate is very good.
In Florence in December or January (not every day, but quite often) you can eat out!
So Florence has a pleasant climate during the winter, it has no fog and it is usually sunny!

Furthermore, Fienze has one of the best cuisines in Italy, a true delight for the palate!
The famous Florentine steak (bistecca alla fiorentina) that conquers with its succulence and enveloping flavour. But let’s not forget the ribollita and pappa al pomodoro (sort of the tomato soup)! And what about the excellent wines such as Chianti Classico and Brunello di Montalcino? Florence not only knows how to nourish the body but also the soul, offering unforgettable moments with every bite.

Florence’s best feature is its size.
Florence is a medium-sized city in Italy, with a population of approximately 370,000. In the historic center of the city there are approximately 61,000 Florentines plus tourists who are, on average, 28,000 every day.
This means that in Florence life is less complicated than in other large Italian cities because it is possible to move comfortably on foot or by bicycle to explore the city. If you live in the center you can be everywhere in 15 minutes walk.

Is Florence expensive?

Florence’s major economic source is tourism. This means that, as in all tourist cities, yes, Florence is expensive.
The cost of living in Florence can be compared, in some aspects, to that of metropolises such as New York, Los Angeles or London. For example, the prices of products in bars fluctuate between 8 and 12 euros/dollars for a cocktail, a standard figure on both sides of the ocean.

Is Florence among the most expensive cities in Italy?

Without any doubt, Florence is considered an expensive city, but it is not among the top places in the rankings of the most expensive Italian cities. Depending on the parameters taken into consideration, on the podium we find cities such as Milan, Rome and Venice.
I invite you to consult this very interesting table from il Sole 24 on the various parameters on the cost of living

Florence is therefore expensive, but the cost of living is especially expensive when it comes to housing.
All other costs, including transport, are in line with those of other cities of the same size in Italy

Accomodation : to buy

To give an order of magnitude, among the Italian cities with over 500,000 inhabitants, the one with the highest apartment prices is Milan with €4,980/m², while Palermo is the one with the lowest prices (€1,380/m²)
In Florence, on average across the city, the cost (data from November 2023) of apartments for sale is currently €3,810/m²
The average price of a house in the various areas of Florence
In the historic center of Florence, the average asking price of apartments for sale is €4,405/m² (around 15% higher than the average in the city).
The area with the highest prices is Porta Romana with requests on average around €5,205/m². The area with the lowest prices is Brozzi where the cost stands at €2,960/m²
With these values, Florence is the Italian city among those with a population between 100,000 and 500,000 inhabitants, with the highest asking prices ever.

Accomodation : to rent

LONG TERM RENTAL

The Italian average for a rented apartment is 13 euros/m²
In Milan you pay 22.1 euros//m² and therefore confirms itself as the city with the highest rents in Italy.
In second place, as the second most expensive city in Italy, Florence with 18.6 euros//m² and then Bologna 18.5 euros//m², followed by Venice with 17.4 euros//m²

SHORT TERM RENT

If you are in Florence only for a few months for work or study you must keep in mind that the price of a room varies depending on the area, proximity to transport and the university.
I can say that on average, in the centre, a single room in an apartment to share with other people the rent starts from 600 euros + utility cost (normally around 40/50 euros per month)

All other cost of living : transport, food, entertainment, cinema, museums, theatre… they are very similar throughout Italy, in cities of the same type.
Eating out in a pizzeria in the center with quality pizza (I mean where you can also choose the type of dough – organic grains or without yeast) you spend around 20/25 euros per person and to eat in a restaurant you have to pay just something more.
In general these are the same prices that you can find in the central areas of Venice or Rome..
Certainly outside the centre, going to less frequented areas, you will find cheaper prices, as in every other city

All in all it is true that the cost of living in Florence is high but it does not differ too much from that of other Italian cities similar in size.
The big difference is that Florence is simply beautiful and I believe that sitting down to have a coffee or eat an ice cream while admiring the Uffizi or Brunelleschi’s Dome is priceless.