Cost of Living in United Kingdom: London, Liverpool, Manchester and Birmingham 2024

Welcome to this article about Average Cost of Living in United Kingdom in 2024, we will be exploring major cities like London, Cardiff, Dublin, Liverpool, Manchester, Birmingham and Glasgow via Afrokonnect.

Britain’s capital city, London, is a melting pot of cultures and a masterwork in urban design. It is an amazing area that offers everything you could possible want and even more all in one convenient location.

Every year, a sizable number of people travel to London in search of better employment prospects, most notably in the financial services sector, which is by far the city’s most prevalent economic activity.

Because of the high earnings in the capital, the UK as a whole had an average pay of £38,600. If you were to live in London, how far would that wage take you?

To get an idea of how a Londoner could fare financially, we’ve compared the cost of living in London to that of several other major UK cities,

Better still, you can even compare it with Cost of Living in Canadian cities like Toronto, Vancouver, Montreal, Winnipeg and Calgary. Here is what you may expect to pick up after reading this review to the end;

• The average cost of living in London
• Comparative analysis of different regions’ rental costs
• How London stacks up against the other major cities in the UK

Average Cost of Living in London, United Kingdom in 2024

If rent is not included in the equation, the monthly cost of living for a single individual in London is approximately £910.21.

These expenses, which also do not include rent, are significantly higher for a family of four, coming in at $3,150.19 per month.  You can see the breakdown of some of those expenses below:

Currency value (GBP)

• £20.00 for a meal at an affordable restaurant
• 1.21 pounds for a loaf of bread
• Monthly transport pass will cost you £159 and 50 pence
• Basic utilities: £247.67
• Childcare support per month: £1,589.56
• An apartment with 1 bedroom located in the city center: £1,753.98
• £1,282.17 for a one-bedroom apartment outside the city center
• Three-bedroom apartment in the city center: £3,381.67
• An apartment with three bedrooms located outside of the city center goes for £2,127.91 per month

The costs that have been stated above are only preliminary estimates, and the primary factor that will influence the amount that you pay for rent in London is where you choose to make your home. The next step will be to analyze that.

Compared to other UK cities, how does London fare in 2024?

What happens if you find out that the cost of living in London doesn’t fit into budget? There are a few more major cities strewn across the UK for you to select from among your options.

Cost of Living in London Vs Cardiff in 2024

Prices for goods and services offered to consumers in Cardiff, the capital city of Wales, are 28.69 percent lower than in London.

The average monthly rent in London is 137.27 percent higher than the average monthly rent in Cardiff. This is how it looks when broken down into its component parts.

Dublin’s Cost of Living vs London, United Kingdom

Dublin is not only the largest city in Ireland but also the country’s capital. Prices paid by consumers in London are 8.26 percent more than those paid in Dublin.

In addition, monthly rent payments have increased by an average of 15.57 percent. A comparative analysis of living expenses in Dublin and London is reviewed below;

Average Living Expenses in London vs Liverpool, Uk

The city of Liverpool is located on the shore, and it is best known as the birthplace of well-known football players like Wayne Rooney, London’s consumer prices are roughly 19.99% higher than Liverpool’s.

In addition, the cost of rent in London is substantially more than in Liverpool by an amount equal to 184.05 percent. The table below is a comparative analysis of living expenses in Liverpool vs London;

Average Cost of Living in London and Manchester, United Kingdom

The city of Manchester has a long history of manufacturing and offers visitors a wide variety of quays to investigate, Manchester is among the Best Places to Live in UK in terms of Safety and affordability,

Because it has such a rich musical history, you could also discover that the nightlife is exciting in this city.

London has greater prices than Manchester by £20.42%. The cost of rent has also increased by 92.96 percent more.

Comparative analysis of the cost of living in London and Birmingham

Many banks and other financial institutions have established a presence in Birmingham, which was historically known mostly for its industry. You can relax and unwind at one of the many cafes or pubs that line the city’s many canals.

The average price paid by consumers in London is 27.80 percent higher than the average price paid in Birmingham. Additionally, rent prices have increased by 92.67 percent. The table below shows a breakdown of living expenses in Birmingham and London: 

Average Cost of Living in Glasgow and London, United Kingdom 2024

The city of Glasgow is a port with a strong cultural history; it is the home of the Scottish Opera as well as the Scottish Ballet, amongst other cultural institutions.

You could be interested in moving there because of the many educational options that are available in the city, If you’re on a budget you should consider any of the top 10 Best Universities in New Zealand for International Students.

Prices paid by consumers in London are 27.96 percent more than those paid in Glasgow. Additionally, rental costs are more expensive in London, with a 131.68 percent increase.

Cost of Living in United Kingdom in 2024: London, Cardiff, Dublin, Liverpool, Manchester, Birmingham, Glasgow;

We have some videos on our YouTube about most Depressing cities in UK, As much as United Kingdom can a dream heaven to many, it is also worth noting that not all that glitters is Gold;

FAQ

In terms of rent, how do the various parts of London compare?

There are nine distinct zones in London, and the city is further subdivided into 32 boroughs.

In the following, we will provide the top five most expensive areas to live in the country, followed by a comparison of those places with the top five most affordable boroughs to live in.

Top 5 most expensive boroughs in London 2024

1. It costs £2,535 per month to live in Kensington and Chelsea.
2. Westminster: £2,492
3. Monthly cost of living in the City of London is estimated at £2,230
4. It will cost you an average of £2,000 per month to live in Camden comfortably
5. Monthly cost of living in Islington is estimated at £1,860

London’s top five most affordable boroughs

1. Sutton is priced at £1,175 per month.
2. Barking and Dagenham has a monthly cost of living estimated at £1,200.
3. Bexley is priced at £1,200 per month.
4. Croydon is priced at 1,250 GBP per month.
5. Hillingdon, London – £1,250/month

Cost of Living in United Kingdom in 2024

Conclusion:

Although you may have your heart set on London, it is wise to research how much more your money will go in other places before making a final decision. As can be shown, other large cities in the UK provide even greater opportunities for cost savings.

Nevertheless, it is imperative that you take into account not only these economic aspects, but also other aspects, such as the availability of the line of work that you wish to pursue in the alternative places. You can start by exploring the Top 20 Highest Paying Career Jobs in the World,

Alternatively, if you are still in school, you should think about whether or not the local colleges and universities offer the major you want to study. You can also consider the Cost of living in Australian cities like Sydney, Melbourne, Brisbane, Canberra and Perth,

Better still, Cost Of Living In Germany for international Students is something worth reviewing. Are you still under the impression that London is the place for you?

If this is the case, the city and all that it has to offer are ready and waiting for you, make sure your check out any of these 10 Best Restaurants in London when you get there,

Lastly, when you choose a borough that is within your financial means, you may even have enough money left over at the end of each month to send to your relatives and friends back in your own country. Good luck with whatever choice you decide to make at the end of the day.