London · GBP · very high cost city

Savings rate in London — are you on track?

London is a very high cost city. 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.

Median rent

£2,000/mo

London 2024

Typical other costs

£1,700/mo

excl. housing

Savings benchmark

8–23%

mid-income GBP

Pre-set for London — adjust to your situation

Country
£42,500
£10,000£155,000£300,000+
£2,000/mo
£0£4,000£8,000+

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

£1,400/mo
£0£3,000£6,000+

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What a good savings rate looks like in London

Using data from ONS Living Costs & Food Survey FYE2024, people at mid-range incomes in United Kingdom typically save between 8–23% of gross income. In a very high cost city like London, housing costs can compress that meaningfully — especially for renters.

Minimum
8%
floor — not building
Expected
16%
benchmark
Strong
32%
top tier

Source: ONS Living Costs & Food Survey FYE2024. Benchmarks shown for mid-income earners in United Kingdom.

See full cost breakdown for London →

Compare nearby cities

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Also in the Verdict suite

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