Cost of living in London
London, the bustling capital of the United Kingdom, is known for its rich history, diverse culture, and vibrant economy. Understanding the cost of living in this iconic city is crucial for anyone considering a move or planning a visit.
With its mix of historic landmarks and modern attractions, London offers a unique lifestyle. However, the cost of living can be quite high, making it essential to plan your budget carefully.
Cost of Living Summary
Dining and Restaurants
- Inexpensive Restaurant Meal - A meal at a casual restaurant will typically cost $25.3 on average, with a range between $13.91 and $50.59.
- Mid-Range Restaurant (Three-Course Meal for Two) - For a more upscale dining experience, expect to pay around $107.51, with prices ranging from $63.24 to $189.73.
- Fast Food (e.g., McDonald's) - A McMeal or equivalent combo meal averages $10.12, with a range between $8.85 and $12.65.
- Beverages (e.g., Domestic Beer, Imported Beer, Cappuccino, Coke/Pepsi) - Domestic beer ranges from $5.06 to $10.12, imported beer $5.06 to $10.12, cappuccino $3.79 to $5.69, and Coke/Pepsi $1.49 to $3.79.
Grocery Prices
- Milk - Milk is priced between $0.95 and $2.53 per liter, averaging $1.65.
- Bread (Loaf of Fresh White Bread) - A loaf of fresh white bread costs between $1.11 and $5.06, with an average price of $2.02.
- Eggs (Dozen) - A dozen eggs range from $2.52 to $7.66, averaging $4.33.
- Fruits (e.g., Apples, Oranges) - Apples cost $1.26 to $5.06 per kg, while oranges range from $1.26 to $5.58 per kg.
- Vegetables (e.g., Potatoes, Lettuce) - Potatoes are priced between $0.57 and $2.53 per kg, and lettuce costs $0.89 to $2.52 per head.
Transportation
- Public Transport (One-Way Ticket) - A one-way local transport ticket costs between $2.21 and $5.06, with a monthly pass priced between $189.73 and $329.96.
- Fuel (Gasoline) - Gasoline is priced between $1.69 and $2.15 per liter.
- Taxi Fares - Taxi fares start at $4.43, with a cost of $1.39 to $5.69 per km and $25.3 to $75.89 per hour of waiting.
Housing Costs
- 1-Bedroom Apartment Rent (City Centre) - Rent for a 1-bedroom apartment in the city centre ranges from $2150.23 to $3794.52, averaging $2753.9.
- 1-Bedroom Apartment Rent (Outside Centre) - Outside the centre, rent ranges from $1517.81 to $2529.68, averaging $2014.04.
- 3-Bedroom Apartment Rent (City Centre) - Rent for a 3-bedroom apartment in the city centre ranges from $4047.49 to $7589.04, averaging $5590.59.
- 3-Bedroom Apartment Rent (Outside Centre) - Outside the centre, rent ranges from $2529.68 to $5059.36, averaging $3468.01.
- Buying Price per Square Meter (City Centre) - The price per square meter to buy an apartment in the city centre ranges from $12648.4 to $31620.99, averaging $18477.16.
- Buying Price per Square Meter (Outside Centre) - Outside the centre, the price per square meter ranges from $8853.88 to $13614.62, averaging $10498.03.
Utilities
- Basic Utilities (Electricity, Heating, Water, etc.) - Basic utilities for an 85m2 apartment cost between $189.73 and $632.42, averaging $320.98.
- Internet - Internet services range from $31.62 to $60.71, with an average cost of $40.37.
Cost of Living Rankings
London ranks 1st on the Cost of Living rankings in United Kingdom. The cost of living indices for United Kingdom are compared to New York City (NYC), which serves as the baseline with an index of 100. These provide insights into the relative cost of living in different cities in United Kingdom, covering factors like consumer goods, rent, and purchasing power.
Cost of Living Data
Restaurants
Restaurants
Markets
Markets
Transportation
Transportation
Rent Per Month
Rent Per Month
Utilities (Monthly)
Utilities (Monthly)
Sports And Leisure
Sports And Leisure
Clothing And Shoes
Clothing And Shoes
Buy Apartment Price
Buy Apartment Price
Salaries And Financing
Salaries And Financing
Childcare
Childcare
"Key Takeaways"
London's cost of living is notably high, with significant expenses in housing and transportation. Dining out can also be costly, especially in mid-range restaurants.
Grocery prices vary, with some items like milk and bread being relatively affordable, while others, such as cheese and beef, are more expensive.
Public transportation is a viable option for getting around, though monthly passes are pricey. Owning a car involves high fuel costs and parking fees.
Conclusion
Living in London offers a unique blend of cultural experiences and professional opportunities, but it comes with a high cost of living.
Prospective residents should budget carefully, considering the substantial expenses in housing, dining, and transportation. Despite the costs, the vibrant lifestyle and opportunities in London can make it a worthwhile place to live.