How much does it cost to live in London?

Typical monthly costs in London are approximately £2,000 in rent and £1,700 in other expenses, totalling around £3,700/month.

How much should I save in London?

Based on ONS Living Costs & Food Survey FYE2024, people at mid-range incomes in United Kingdom typically save 12–20% of gross income. In a very high cost city like London, housing costs can reduce this, particularly for renters.

London · GBP · very high cost city

Cost of living in London — is your salary enough?

London median private rent reached £2,000/month in 2023, the fastest-rising major city in the UK. London renters spend a higher share of income on housing than any other UK city, directly compressing savings rates.

Rent in London

Budget£1,500 – £1,800/mo

Typical£2,000 – £2,300/mo

Premium£2,600+/mo

Other monthly costs

Food, transport, bills, going out~£1,700/mo

Total typical monthly spend~£3,700/mo

How different incomes stack up

At typical London costs (£2,000 rent)

£25,000 – £35,000→ saving -89.7%

Critical

£35,000 – £50,000→ saving -33.9%

Critical

£50,000 – £70,000→ saving -7.2%

Critical

See your personal verdict for London

Country

Annual income (gross)£42,500

£10,000£155,000£300,000+

Monthly rent or mortgage£2,000/mo

£0£4,000£8,000+

Other monthly expenses

Food, transport, subscriptions, going out — everything except rent

£1,400/mo

£0£3,000£6,000+

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Cost figures are estimates based on reported median rents and typical spending patterns. Savings benchmarks from ONS Living Costs & Food Survey FYE2024. Figures in GBP.

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Also in the Verdict suite

SalaryVerdict — Is your London salary competitive?SpendVerdict — Is your London rent too high?