Last Updated on February 16, 2023 by Abdul Rehman
Introduction about cost of living in London
Humans are the only species of this world that cannot live the same routine life for the whole lifespan. The words of change are like the words of humans. It is essential for a human being to travel around the world in order to experience change. This habit of nature gives them a lot of comfort and happiness. It is difficult to travel or move to a new location, as moving brings many challenges in one’s life. Irrespective of moving from city to city or between countries, a human being has to tackle some problems to live with peace of mind.
To tackle these challenges, one who has a desire to move to another city or country must know about the circumstances of that particular country or city. A particular location has a high cost of living, which is undoubtedly one of the most significant challenges. In this article, you will learn about the challenges that you will face if you wish to relocate to London, the capital of England. Following are the details about cost of living in London.
First, let’s briefly examine the city of London before learning more about its cost of living.
About London city
London is a prosperous city in every aspect. If you see the culture of London, then it has one of the traditionally rich and modern cultures. Every day, people come from all over the world to live in this city. They come to the city for education purposes and to earn a good livelihood for their lives. This is the city where William Shakespeare chooses to live in and do research on his knowledge. Another gem described for introducing that city is the famous Emperor Claudius’ fingerprints kept safely in a museum in London.
There are few cities in the world that are as modern as this one. This city’s fashion, art, restaurants, etc., is matchless. Despite having so diverse and rich culture, the lifestyle of this city is costly. Now let’s explore how much it costs to live in London for various daily routine items.
Living in London is a unique and exciting experience that offers something for everyone. With a population of over 8 million, it is a bustling metropolis rich in culture, history, and diversity. The city is a melting pot of different nationalities, each contributing to the unique fabric of London’s society. From the iconic red double-decker buses to historic landmarks like the Tower of London, there is always something to see and explore.
The city is also renowned for its world-class museums, art galleries, and theaters, offering endless entertainment options for locals and tourists alike. Despite its size, London is easy to navigate with its excellent public transport system, including the iconic underground network. And with a thriving food scene and bustling nightlife, there is never a dull moment in this vibrant city.
How much does it cost to live in London?
The average monthly standard of rent in London for a single individual in 2022 is currently over £3000. Compared to the UK average, this is nearly $1000 more than that to find each month. Accordingly, a single person’s estimated yearly cost of living in London is approximately £36,000.
Cost of living in London
By reading the following points carefully, you can get a better understanding of the cost of living in London.
Cost of residence in London
If you want to live in London, this is the first and basic expense you must pay. The cost of residence in London can be of two types which are:
- Rental residence
- Getting residence after buying a house
When you choose to live in a rented residence, you should expect to pay different costs depending on whether you live in an urban center or a suburban area. The average rent in the middle of the city is about three thousand Pounds per month for a nine hundred square feet furnished house. This cost reduces to two thousand pounds per month for the same area furnished house if you choose the suburbs of London.
If you don’t want to rent a house, you have to know that the average purchasing cost of a three-bed living is around one million pounds instead of buying your residence.
Food costs in London
After getting a good place to live, the other essential thing is food. Because no one in this world can live without food. The average cost of food in London is a bit high compared to other England cities. The following section will provide an overview of some essential food items. Knowing these food items’ prices can quickly evaluate the overall food prices that you have to pay to get them.
The price of one liter of milk in the city is approximately one pound. One dozen eggs can cost you about three pounds. The price of one kilogram of tomatoes is around eight pounds. To get bread for two people, you must pay nearly one pound per day.
These are some essential food items you can buy at a specific price. As a result, you can estimate the price of other food items and manage your budget accordingly.
Transportation costs in London
After living and eating, the other need to live in London is to move around to earn a livelihood or entertainment. This section educates you about the transportation cost of London. The transportation system of London is powerful. This system includes a wide range of bus, tram, and train infrastructure. In London people also like to move around the city on taxis. For a monthly ticket, you must pay one hundred fifty-five pounds in order to move around the city by public transportation.
The residents of London also like personal vehicles. In this case, the fuel price of one liter is around one and a half pounds. The taxi trip cost in the city can cost you around twenty dollars for eight kilometers.
These are some basic cost of living in London. Moving to London for an average-earning person is not an easy task. Because this city is ranked thirty-ninth out of two hundred and nine cities in the world, read carefully about the cost of different things in the city of London before moving to London to build a reasonable budget plan accordingly.
Frequently ask questions
- How much do you have to pay for cost of living in London?
If your family consists of four members, you must pay nearly four thousand US dollars. This cost does not include the monthly rental charge. And if you are a single person, you must pay around one hundred and fifty-four US dollars excluded rental prices.
- What is the average rental cost of a flat in London city?
The average rental cost of a flat in London varies from place to place. In the middle of the city, this cost can go up to two thousand pounds per month, and in the suburb of the city, this cost is around one thousand pounds.