This upwards trend has also been charted by the ONS since 1997 and, as you can see below, both Scotland and Northern Ireland have seen a greater increase in wages than London (as well as England including London), with Wales trailing behind. The cost of living in capital cities is in the majority of cases higher than that in other parts of the country. Every country in the UK has seen at least a 60% wage increase since 1997. There are several factors involved which level the playing field regardless of someone’s wages. However, the range of experiences on offer means that it's still a hugely popular destination, for a permanent move, or just to spend a year or two exploring somewhere new. Find out what is the real equivalent in UK of your current salary and improve your chances of a happy relocation. Full version That's where a cost of living calculator (like the one above!) THE CHEAPEST AND MOST EXPENSIVE CITIES TO LIVE AND RENT IN THE UK; Rank City Average rent Average earnings Percentage of wage spent on rent 1 London £836.05 £2,254.94 37.08% 2: Brighton: £623.99 The biggest factor in Cost of Living is housing costs – buying a … Are the other cities on your list more or less affordable than your current home? Cost of living & additional income data sourced from Numbeo & the ONS. If you consider consolidating existing loans or unsecured debt you need to be aware that if you extend the term of the debt you may be increasing the total amount that you repay. To calculate each city's Price Index value, we start by assigning a value of 100 to a Depending on where you live and work in the UK, it’s likely that someone is making more money in the same role. Simply enter your location and annual income to find out the true cost of living in your city. Rent in United Kingdom is, on average, 23.28% lower than in United States . Are you pleasantly surprised at how well your city ranks? Cities in Spain. At £413 per week, average pay in … Select city in United Kingdom: Cost of living in United Kingdom is 1.02% lower than in United States (aggregate data for all cities, rent is not taken into account). Once all of this has been paid up for the year, you’re left with your disposable income. Are you moving to United Kingdom? of boneless chicken breast, 0.5 l (16 oz) domestic beer in the supermarket, Monthly rent for 85 m2 (900 sqft) furnished accommodation in expensive area, Monthly rent for 85 m2 (900 sqft) furnished accommodation in normal area, Utilities 1 month (heating, electricity, gas ...) for 2 people in 85m2 flat, Monthly rent for a 45 m2 (480 sqft) furnished studio in expensive area, Monthly rent for a 45 m2 (480 sqft) furnished studio in normal area, Utilities 1 month (heating, electricity, gas ...) for 1 person in 45 m2 (480 sqft) studio, Microwave 800/900 watt (bosch, panasonic, lg, sharp, or equivalent brands), 1 summer dress in a high street store (zara, h&m or similar retailers), 1 pair of sport shoes (nike, adidas, or equivalent brands), Volkswagen golf 1.4 tsi 150 cv (or equivalent), with no extras, new, Cold medicine for 6 days (tylenol, frenadol, coldrex, or equivalent brands), Short visit to private doctor (15 minutes), Standard men's haircut in expat area of the city, Basic dinner out for two in neighborhood pub, 2 tickets to the theater (best available seats), Dinner for two at an italian restaurant in the expat area including appetisers, main course, wine and dessert, 1 beer in neighbourhood pub (500ml or 1pt. © 2009-2020 Expatistan.com, List of all the cities available in Expatistan, Basic lunchtime menu (including a drink) in the business district, Combo meal in fast food restaurant (big mac meal or similar), 500 gr (1 lb.) When looking at wages aside from the cost of living, it can be quite surprising to see how much of a difference it makes to those who live in some of the more expensive areas of the UK – despite their higher earnings. Cost of living in London is 60% more expensive than in Barcelona. ... To give a wider overview of these essential costs – here is a regional comparison which shows the average annual outgoings per household. Here is a look at some of the UK’s largest cities and where they rank in terms of expense for everything from rent to dining out at restaurants in the form of a cost of living index: One of the largest, most frequent expenditures that applies to everyone is the cost of food shopping. 5 Reasons You Should Use ABC Finance To Arrange Your Bridging Loan, Supporting SMEs – Simple Business Solutions, Interbay Reduce Rates across Commercial Mortgage Range. The UK's lowest paid towns and cities At the other end of the table, the lowest pay is, perhaps surprisingly, found in another place close to London. While many are tempted to run to the capital, or any of the UK’s larger cities, for their higher-paying job opportunities, it’s essential to bear in mind the costs associated with bringing in larger wages in more expensive areas. For instance, the end of 2017 they hit 3.1% – a five-year high for the UK’s cost of living, food prices rose at their fastest for four years as well as the cost of everything from transport to clothing. Select 'Agree' to continue to the ABC Finance Ltd website or view our, https://www.facebook.com/abcfinancelimited/, https://www.linkedin.com/company/abc-finance-limited/. Do you know how much money you will need there to maintain your current standard of living? According to data comparison website Expatistan, the average UK cost of living is: £2,249 per month for a single person; and £3,803 per month for a family of four. The cost of living in the UK, especially in London, is fairly high. Our compare cities tool is just like our city profiles report except that you can compare two cities side by side. Think carefully before securing other debts against your home. Determine if you could maintain your current standard of living in a different city. Combine an average spend of £435.60 on items and activities, and this leaves the average Manchester student with a disposable income of £531.90 each month. A Guide to Becoming a Commercial Finance Introducer, Bank of England Granted Additional Powers – Buy to Let Rule Changes, Working with Lenders for Development Financing, The Growth of the Bridging Finance Market, Raising Money To Pay Urgent Corporation Tax, The average house in your city would cost, If you chose to rent, the average monthly rent would be, Your annual income after the average cost of living for your area is, The average annual income after cost of living for your area is. The color of each marker corresponds with the cost of living in the city red markers show more expensive cities green ones show cheaper cities This will hopefully grant you with a much more realistic perspective the next time you’re looking at comparative wages elsewhere. of prepaid mobile tariff (no discounts or plans), 1 month of gym membership in business district, Sport shoes (nike, adidas, or equivalent brands) in, Summer dress in a high street store (zara, h&m or similar retailers) in, Hourly rate for domestic cleaning help in, Microwave 800/900 watt (bosch, panasonic, lg, sharp, or equivalent brands) in. Meanwhile, the Money Advice Service puts the UK yearly average cost of living at a more conservative £14,945 (based on 2018 stats from the Office of National Statistics). Besides this, London guarantees the same quality of lifestyle as those cities, while carrying the same desirability among … It isn’t all good news though as unpredictable interest rates frequently raises our essential spend alongside, or even ahead of, these increases to remuneration. And determine how much you 'll need to make to maintain your current standard of living. The average salary after taxes in Scotland is $2317, which is enough to cover living expenses for 1.6 months.. If a place has a cost of living index of 85, then it is 15% cheaper than the average for the entire country. Comparison of worldwide cost of living Living ist most expensive on the Cayman Islands and cheapest in Pakistan. However, this doesn’t necessarily make them better off than you. The following rankings, based on the same cities as the table above, show the highest and lowest spenders when it comes to getting groceries. 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