Overall, both Milan and Rome are among the most expensive cities in Italy. However, Milan is generally considered to be slightly more expensive than Rome in terms of housing, transportation, and food.

In 2026, Milan is generally more expensive for the average traveler than Rome, particularly regarding luxury accommodation and high-end dining. While Rome remains a top-tier European capital with high prices in the historic center, it offers a wider variety of budget-friendly options in residential neighborhoods like Trastevere or Monti. Milan, being Italy's financial and fashion capital, commands a premium for its business-centric infrastructure and upscale shopping districts. In 2026, Rome has introduced new specific costs for tourists, such as a €2 fee to access the Trevi Fountain's close-up viewing area, but Milan's daily living costs—like a coffee near the Duomo or a dinner in the Brera district—typically sit 10–15% higher. For a 2026 traveler, Rome is often more expensive for "attraction fees," while Milan feels more expensive for "lifestyle and leisure."