Are you moving to London or just considering this opportunity? Wondering, what is the salary needed to live in London in 2022 and curious how much money you need to live in London comfortably? Well, in this post, I’ll try to answer all these questions: how much do you need to live in London? How expensive is the rent in London? How high are the costs in London? How much can you make in London and finally, the salary needed to live in London in 2022?
This post was updated in June 2022, so don’t worry, all the information is really up-to-date. There was actually a huge hike in prices between 2021 and 2022 because of really high inflation rate, so the cost of living in London increased even more.
This post's overview:
- 1 Intro: My short story about moving to London
- 2 Moving to London – logistics and more
- 3 Jobs in London: average salary in London in 2022
- 4 Moving to London: the logistics (where to find a room / flat, where to buy furniture & more)
- 5 Cost of living in London: how much does it cost to live in London in 2022?
- 6 How to afford to live in London?
- 7 Summary of moving to London – how much money do you need in London. Is living in London worth it?
- 8 Some other articles you might enjoy reading:
Intro: My short story about moving to London
I fell in love with London on the 31st of July 2011 when I came there for a month to study English at a language school.
My second encounter with the UK was in 2014, when I came to Scotland to study for my Masters Degree. I studied at the University of Edinburgh and wrote a couple of posts about living in Scotland – even though I loved the Scotland with all my heart, I didn’t enjoy living there that much – it was very cold and windy all year long and it was also very hard to find a job in my field. After a few unsuccessful attempts to get a visa sponsored job in the UK in in my field (Marketing), I returned to my country for almost 1.5 years, while my boyfriend (now – husband, Jose, stayed).
Back in 2017, we got married and I joined Jose in Edinburgh, however, since there were so few jobs in Marketing in Edinburgh, we made a decision to move to London. Now you must be wondering, why London? It’s not that far from Edinburgh, so the weather isn’t that much different, right?
Well, not really. Climate in London is much better, in my opinion, especially, in summer!
Moving to London – logistics and more
Moving to London is actually a huge separate topic and I have written a separate post about how to prepare to move to London and what do you need to do upon arrival (if you’re moving from abroad or equally if you’re moving within the UK).
Jobs in London: average salary in London in 2022
The job market in London seems to have revived a little despite Brexit and the pandemic. However, the salaries in London still range a lot. If you’re an intern or assistant – expect to earn everything from the minimum salary (around 14000 pounds a year depending on your age – living in London on a minimum wage is really tough – you can read my post about what you can afford on a minimum wage in London) to 18K a year brutto. Same goes for shop assistants and waiters – the only difference is that you get paid by the hour. It’s really not a high salary in a city like London. Later on, I will explain, how you can live on 12K, 18K, 40K or 70K in London.
Junior or executive roles usually start at 18K and finish at 35-40K depending on your experience. Managerial roles start at 35-45K and God knows where they finish, but as a talented marketing manager with 5+ years of experience, you can make around 45-70K a year. Software developers always have higher salaries, so with 2-3 years of experience as a backend developer, you can get a salary of 60-75K a year. I can’t tell you much about other positions, but there’s Adzuna and Glassdoor that can help you find out how much money could you make if you’re moving to London and haven’t found a job yet. The average salary in London in 2022 is 42K a year
It could be hard to find a job in
Moving to London: the logistics (where to find a room / flat, where to buy furniture & more)
If you’re new in London or you’re planning to move to London, make sure to read my post about the worst places to live in London to avoid these areas. If you’re looking for a room, I recommend using websites like Spareroom or different communities on Facebook (room to rent, flatmates in London etc). If you’re looking for a flat, I recommend using Zoopla and Rightmove for that.
If you’re looking for affordable furniture, I recommend using a combination of Argos and Ikea. If you’re looking for more unique furniture (but still with a fast delivery and for a good price), I recommend Wayfair. If you’re looking for bedding and various home accessories, we got most of ours on Amazon and also in Primark (Primark Home has some lovely bedding / pillows / duvets).
Cost of living in London: how much does it cost to live in London in 2022?
So, how much does it cost to live in London in 2022? You can live in London with a very little amount of money, however, you will have to have a very ascetic lifestyle. As I promised, I will first tell you about the salary that is needed for a comfortable life in London, the different costs of living in London and then, I’ll tell you, what you can afford in London with 4 different salaries.
Salary needed to live in London in 2022:
Of course, the salary needed to live in London in 2022 heavily depends on your lifestyle. I know people, who manage to have a decent lifestyle with a minimum wage and a bit of work on the side, but if you want to be able to rent your studio flat in Zones 3-4, buy food in Waitrose, pay for your transport and go out with your friends from time to time, you’d need at least £2300 a month. That would be around £34-35K a year before taxes. So how does that translate into costs?
Rent prices in London
If you want to live in a nice neighbourhood in a decently connected location (that would be zones 2-3 of London), prepare to pay around £1200-1400 for a studio and £1600-1800 for a 1-bedroom flat. You can find cheaper flats in very posh neighbourhoods like South Kensington or Hampstead only in case the building is in shambles. Or you can find a fabulous flat for £1600, but it would be ages away from the tube or train. In London, you will always need to compromise. You can always share will other people and that would be way cheaper.
For example, we used to live in a new building with a concierge, gym, 5 minutes walking from the metro, in zone 1 (that’s basically the city centre), but the neighbourhood was a bit rough and dodgy. It’s not a place where you would go for a nice walk or chill in a local brunch place (because there are none). Instead, it’s full of cheap shops, poundlands, betties and takeaways. You can read more about it in my post about Elephant & Castle. If the neighbourhood matters a lot to you, check my post about the best districts to live in London. I also have a post about the worst areas to live in London that you should probably avoid.
In addition to the rent prices, you will need to pay the council tax (around 80-150 pounds a month), water, gas, electricity, phone, Internet and TV which would end up being 150-200 pounds a month extra.
Food prices in London: cost of going out in London
For a family of 2, we usually spend around £120 per week in supermarkets (shopping at Waitrose & M&S), which ends up being ca £500 a month on just dinners (some lunches) and breakfasts at home. A lot of people order food from Ocado – there is usually a promo for first-time orders that will help to save you £20-30 on your first order!
Then, there are lunches at the office, £6-10 per lunch – around £150-200 per month per person and, of course, going out. We don’t go very often to very expensive places but on a normal night out, we end up paying £60-70 per dinner. In more expensive places e.g. French restaurants, the dinner for two will start from £90 (with a bottle of wine).
Other costs to consider when living in London
Transport in London is crazy expensive. For a transport card for Zones 1-2, you would need to pay around £160 a month. That sum increases depending on your zone, so right now, we are in Zone 4 and I pay £200+ pounds every month.
Sometimes you want to go to a cinema and that’s also pricey in London. Cinema tickets start
If you want to save money in London – I also have a post on this topic – click here to find out how to save money and afford more in London.
Theatre prices in London are okay, you can see some plays for as low as £15, but if you want to go to a popular performance, be ready to pay £50-70. Opera and ballet are way more expensive than that (which is so sad for me, because I’m used to cheap ballet performances in St. Petersburg, Russia!).
Nightlife in London is also very expensive – a cocktail in a nice bar would be around £11-14. There’re
How to afford to live in London?
As promised, I will tell you now how can you afford to live in London with 4 different salaries: the minimum wage, 18-20K, 40K and 70K.
What can you afford with a minimum wage in London?
As I already mentioned, the minimum salary in the UK depends on your age, so check this page to find out how much can you earn.
I also have a separate blog post about living on a minimum wage in London. You can find it here >
So what can you afford with a minimum wage in London? Let’s just assume for the simplicity that you’re over 25
Let’s add to that £155 for the railcard (or you can cycle for free and not pay for the gym as well) & the groceries of £200. You’ll be left with £345 for going out, travelling, shopping and some basic necessities. Add here phone & internet bill (about £50 a month). With a minimum wage, it’s very hard to make any savings.
What can you afford with the salary of 20K in London?
I would say 20K is a very average junior exec or assistant salary in London. So what can you afford with the salary of 20K in London?
First of all, you need to pay taxes (well, your company will pay them for you), so you’ll be left with £1415 a month. That’s really not that much different from the minimum wage and you’ll still probably need to pay for a room around £500-600 a month in rent.
What can you afford
with the salary of 40K in London?
What can you afford
What can you afford
with the salary of 70K in London?
Oh wow, you’ve been offered 70K in London? Congratulations, it’s really good. With this salary, you’ll be taking home £4050 and I can totally see you living in a nice 1-bedroom flat somewhere near Camden or Angel (paying £2000 with all the taxes), going out often and travelling a lot. £70K is a great salary for a single person in London. If you have a family, it’s also good and you’ll be able to have a moderate lifestyle in London. If you were offered even more, for example, 80K, you can find more information in this post about life on the 80K salary in London.
Summary of moving to London – how much money do you need in London. Is living in London worth it?
To summarise, for a comfortable life in London for 1 person, you would need a salary of at least 40K a year. For two people, everybody needs to earn at least 30K, so you would be left with the household income of £4000, which would cover the flat (£1600-1900), transport, lunches, groceries and you would be left with £1500 to spend on entertainment, going out, saving and travelling.
Still considering moving to London? Just joking. Everything is possible, you just need to find a good job and all the dreams will come true. In the meantime, would you like to know how to travel the world without spending much money? Read this article.