Italy's mortgage, rent and utility costs surge over five years

Over the past five years Italy’s housing expenses have risen sharply, driven by higher mortgage rates, soaring rents and elevated utility bills. After the European Central Bank lifted rates to combat inflation, fixed‑rate mortgages that were under 1 % in 2021 now exceed 4 %, increasing monthly payments by several hundred euros for many households. Rental prices have also climbed, especially in university cities such as Milan, Rome, Bologna and Florence, where rents have risen up to 50 % since 2019, consuming a larger share of salaries. In the Marche city of Pesaro, the average rent for a 70 m² apartment has jumped from €560 to €670 per month, amounting to 36 % of a median net salary. Utility bills followed a similar trend; the 2022‑2023 energy crisis pushed electricity and gas costs to record levels, with many Italians seeing their bills double or triple before a modest recent stabilization. The combined pressure on mortgages, rents and energy costs has forced families to revise budgets, limited mobility for workers and students, and raised concerns about local economic growth.