“La dolce vita” translates into “the sweet life” in Italian and if you are thinking of retiring soon, you might want to set your sights on the nation that is known for pasta, wine, culture, scenery and so much more. But with all Italy has to offer, perhaps it is out of your price range, especially if you are going to be on a fixed budget once you turn in your work badge.
According to an article by Chip Stites, retired certified public accountant (CPA) who lives near Rieti, Italy and serves as the Italy consultant for International Living, the cost of living in Italy can be 30% to 70% lower than that of the U.S.
He wrote that the further south you go in the country, the lower the cost of living. Additionally, according to Stites, smaller towns and areas with high agricultural activity also have a lower cost of living.
Here are three places in Italy where you can retire for under $3,200 a month, according to International Living.
Northern Lazio offers an appealing alternative to the high costs of living in Rome. This region, especially the Viterbo province, is ideal for those seeking a blend of affordability, charm and proximity to major attractions, according to Stites.
Stites wrote that Viterbo, the provincial capital, is a picturesque town that offers much of what expat retirees desire. It features various historical landmarks, a medieval town center, a papal palace and cobbled streets.
But that doesn’t mean you won’t find amenities. Viterbo has a university and a military base, which means that there are plenty of wine bars, eateries and shops, including a shopping mall, available. For anything else you might need, you can go to Rome, which is about an hour’s drive.
And if you’re looking for a retreat in nature, a natural hot springs and a lake aren’t far. Or you can opt to visit the Mediterranean Sea, which is just an hour away.
You can find places to rent starting at $470 a month, according to Stites. Another option are houses for sale that are in good condition for $67,000 to $85,000. Additionally, you can find houses for $35,000 in Caprarola, which is smaller town outside of the Viterbo province.
According to Stites, who lives in this region, Basilicata offers a low cost of living, stunning landscapes and a warm, welcoming community that embraces a slower pace of life. And while Stites said Rome isn’t nearby the region, he explained that major cities like Salerno, Bari and Naples are within a two-hour drive.
Regarding food, fresh produce at the local market is quite reasonably priced and dining out is also budget-friendly. Stites said a meal for two, including generous helpings of pasta, a side dish and a good glass of wine, costs about $30.
Housing is also quite affordable. Stites wrote that as long as you live outside of the two cities in the region, housing is “downright cheap.”
Maratea, also know as “the pearl of the Mediterranean,” offers renovated terrace homes near the port starting at $180,000. Stites wrote that the town has the charm of the Amalfi Coast minus the crowds or high prices.
Stites also explained that small towns like Muro Lucano, Picerno and Pisticci provide old-world charm and perfectly livable homes starting at $30,365. Pisticci even has a beachfront on the Ionian Sea, where you can find a new two-bedroom condo close to the water for $133,605.
Another tip provided by Stites is that searching for a home in Basilicata requires a different approach — looking outside of real estate listings. This is because many homes are sold by their owners and through word of mouth.
Le Marche, nestled between mountains and the Adriatic Sea, has a less affordable cost of living than Northern Lazio and Basilicata. However, it still offers affordability. According to Stites, the region is often dubbed “all of Italy in one region,” due to rolling hills, wine country, majestic peaks and plentiful seacoast. It’s also referred to as “the new Tuscany” due to it having similar landscapes without the high prices and tourist crowds.
Stites explained that the art city of Ascoli Piceno, built from travertine, stands out with its vibrant community. And because of its location in a valley, it’s great for walking and biking.
He wrote that nice apartments rent for $550 to $700 per month. If you’re looking to buy a home, Stites mentioned a two-bedroom, two-bathroom townhouse near the river for $167,613.
Nearby Ascoli Piceno is the hill town of Osimo, which is not far from the regional capital, Ancona and only about 30 minutes from the Adriatic Sea. Stites wrote that you can find a newly-restored two-bedroom apartment in the heart of town for $94,738. And if your dream is to own a farmhouse, you can find partially renovated farmhouses in the hills starting at $280,000.
Cynthia Measom contributed to the reporting for this article.
Please note any photos used are for representational purposes only. As a result, some of the photos might not reflect the locations listed in this article.
