How much money do you need to live comfortably in London?

How much money do you need to live comfortably in London?

Living costs in London are spiralling out of control The authors of a new report found that a single person living in outer London would need to earn at least £21,100 a year to be able to pay rent in a shared house and live comfortably, rising to £22,300 in inner London.

What is the average cost of living in London?

What is the annual average cost of living in London? For a single person, the cost of living in London goes up to £2892 per month. The annual average cost of living in London for a single person is £34,704, or £2,892 per month. For a family of four, the monthly cost rises to £4850.

Is it expensive to live in England?

Overall, the cost of living in the U.K. is 0.49% lower than in the United States. Rent overall is about 22.55% lower in the U.K. You would need $4,700 per month to finance a modest lifestyle in London, compared to $5,822 for the equivalent lifestyle in New York City.

How much does it cost to live on your own per month UK?

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.

Is 35k a good salary UK?

£35k is quite a high salary. Most certainly! London is as expensive as you want it to be. I moved here from the north two years ago, into Clerkenwell (still my most desirable place to live in London) on £30k and although it was pay check to paycheck, got along just fine.

Is 100k a good salary in London?

£100k is certainly a much higher salary than most people in the UK earn – £80k would put you in the top 5% of earners, despite what this guy said during an election debate. A survey taken five years ago found that only about 1 million people earned more than £100k per year.

Is 85000 a good salary in London?

That’s pretty good, you’ll have an enjoyable lifestyle. If it’s anywhere other than London, you will live very well. Yes. £85,000 a year before tax places you in the top 4% of taxpayers in the UK by income.

Is 55k a good salary in London?

£55k is about £10k above the average London salary, and even then bear in mind that the average is distorted northwards by some obscenely high city salaries in the finance sector.

Is 50000 pounds a good salary in London?

Originally Answered: Is £50,000 a lot of money to earn living in London? Simple answer NO. But it is just about enough. If your salary is £50k you will take home £37,537 a year or around £3k a month.

Is 80000 pounds a good salary in London?

When it comes to annual income, a salary of £80,000 would put someone firmly in the top 5% of UK earners. According to HMRC taxpayer data from 2016-17, the 95th percentile of earnings began at £75,300.

Is 75k a good salary in London?

£75,000/year is a good salary for London but it’s impossible to predict. A lot is going to depend on where you choose to live. London is 659 square miles and rents vary widely. Central London is very expensive and a 1 bedroom flat will be set you back at least £300/week or £1300/month.

Is 45000 pounds a good salary in London?

Yeah 45k is decent. That’s around 2.8k monthly take-home. You can get a modern studio or even a small 1 bedroom apartment for 1200-1300, the rest is up to you and your lifestyle.

Is 30000 pounds a good salary in London?

Oh yes, it’s definitely doable even in London — £30k p.a. comes to £576 per week gross. Lots of Londoners live and raise families on much less. Last time I looked, the the UK average national wage in 2015 or 2016 was £26,500 p.a.

Is 60k pounds a good salary in London?

£60k is definitely enough to live comfortably in London. £60K per annum gives you about £3,611.32 per month after tax. That is without taking any pre-tax deductions such as pension contributions into account. If you want to save £1,200 per month that means you would have around £2,400 to live on.