Sheffield · GBP · moderate cost city

Savings rate in Sheffield — are you on track?

Sheffield is a moderate cost city. Sheffield median rent is approximately £750/month, benefiting from a large student population keeping supply high. Sheffield's affordable housing gives mid-income earners strong savings capacity relative to UK national benchmarks.

Median rent

£750/mo

Sheffield 2024

Typical other costs

£900/mo

excl. housing

Savings benchmark

8–23%

mid-income GBP

Pre-set for Sheffield — adjust to your situation

Country
£42,500
£10,000£155,000£300,000+
£750/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 Sheffield

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 moderate cost city like Sheffield, 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 Sheffield →

Compare nearby cities

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Also in the Verdict suite

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