If you’re an international student, you may be wondering about the average rent in London and how much it will cost to attend school in the UK.
Of course, you also have to consider the cost of college, but things like rent, utilities, food, and recreation also contribute to the total cost.
In this article, we have compiled the costs of day-to-day living in the UK that is necessary for a comfortable lifestyle.
Have a look at them and learn how your own budget will affect it and what you must do to properly handle your finances.
What Is The Typical Rent In London?
In 2020, London was considered to be one of the ten priciest places to live in Europe. Obviously, there are many ways to lower the expenses, but it will be expensive.
You can live anywhere in the UK as long as you choose to do so. In general, the constant costs vary considerably in different areas of the country, which makes the cost of living a challenge to pinpoint.
Just like in any country of the world, even the UK has some of the world’s most expensive and most affordable regions.
So, no matter where you go, as in the UK, you will find remarkable differences in the cost of living in certain parts of the country.
As an American student living in the UK, the average yearly budget including rent should be approximately $240.89 ($317.92 USD).
You should certainly live off less than that depending on the flat you are renting, on average spending around $12,000 a year (not including tuition fees).
Average Rent For 1 Bed Flat In London
Studio-type flats and one-bedroom properties are often popular with young professionals who want to live in the capital or strike out on their own.
Low rental prices make these sorts of accommodations an attractive choice, depending on where you look for them.
If you’re looking for a flat that’s close to London but doesn’t have a high cost of living, Bexley and Havering might be perfect.
Sutton also has great transport links making it an easy spot in which young professionals can live comfortably while still being near many amenities they’ll need on their job lot.
The highest average rents in London for rooms, studio flats, and one-bedroom flats can be found much closer to the city center.
Kensington and Chelsea, Camden, Westminster, and the City of London all have high rankings for these average rental prices.
Highest Average Rent per Month for Studio and One-Bedroom Properties:
Kensington and Chelsea
Studio – £1,427
One bedroom – £2,062
Studio – £1,383
One bedroom – £1,565
Studio – £1,398
One bedroom – £1,547
Studio – £1,371
One bedroom – £2,113
Studio – £1,240
One bedroom – £1,595
Lowest Average Rent per Month for Studio and One Bedroom Properties in London 2022
Studio – £669
One bedroom – £891
Studio – £762
One bedroom – £964
Studio – £776
One bedroom – £923
Barking and Dagenham
Studio – £729
One bedroom – £981
Studio – £688
One bedroom – £854
Where Does This Calculation Come From?
The average rent that you will pay in the UK varies depending on where you live and the type of accommodation you have.
A one-bedroom flat averages £758 (~$1000 USD) per month if you’re in the city; £614 (~$810 USD) if you’re outside of the city.
It may be more if your energy costs are included in the rent. Also, if you decide to share your flat, the cost of accommodation and utilities will be cut in half.
If you live in the UK, you have to pay council tax. They calculate how much you should pay per year based on where you live and how many people live with you (if you live alone, it’s much less).
This tax helps pay for trash collection, police forces, and street maintenance. It usually averages about £25 ($40 USD) per week.
If these aren’t included in the rent, the total for gas, electricity, and water per month is about £155/$204 USD. If you live alone or are not home that often due to sightseeing, socializing, or studying, those costs may be less.
Heat may also make utilities vary, but that estimate should at least help you budget throughout the year.
If you are planning to move to the UK, you will have to open a new bank account to pay for expenses and bills, as well as to send and receive money.
Depending on what UK bank you choose, fees can really add up, especially if you do international transfers.
In conclusion, the average rent in London is affordable. The cost of living in London is high and low, it depends on which area you select for living.
The average person cannot afford to live in London. There are so many ways to manage your expenses and as a student, you can definitely afford your living expenses with your part-time job. Read more articles on lookup.