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
Other monthly costs
How different incomes stack up
At typical London costs (£2,000 rent)
See your personal verdict for London
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.
Frequently asked questions — Living in London
How much does it cost to live in London?+
Core monthly costs in London run about £3,700 — roughly £2,000 for rent and £1,700 for other living expenses (food, transport, utilities, basics). London median private rent reached £2,000/month in 2023, the fastest-rising major city in the UK.
What is the median rent in London?+
The median rent in London is around £2,000 per month. London is classified as a very high cost cost-of-living city in United Kingdom.
What salary do you need to live comfortably in London?+
Using the 70%-rule (core costs ≤ 70% of gross), you need roughly £63,429 per year before tax to live comfortably in London. That leaves room to hit the 16% savings benchmark for United Kingdom.
Is London expensive compared to the rest of United Kingdom?+
London sits in the very high cost tier within United Kingdom. London renters spend a higher share of income on housing than any other UK city, directly compressing savings rates.
How much of your income should rent take in London?+
The standard rule is no more than 30% of gross income on rent. At £2,000/month in London, that means a gross income of at least £80,000 per year to stay under the 30% threshold.
Can you still save money living in London?+
Yes — the United Kingdom benchmark for mid-income earners is 16% of gross income. In a very high cost city like London, hitting that rate is tighter but achievable with disciplined budgeting.
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