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How much do you actually need to earn to live in London as a single young adult? Watch

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    (Original post by markova21)
    Wow, the prices in London nowadays are scary. When I was there in 1984, as a Ballet Student I was living in a student hostel, in Frognal, Hampstead. [St.Dorothy's Convent]. The rent was £25 a week, including breakfast and evening meals. We lived in a huge house that used to be owned by Charles De Gaulle and Sting lived over the road from us. He used to wave to us all every morning. [Just reminiscing there ]. I now live in Northern Ireland. I rent a 3 bedroom house with large dining room and large front and back gardens in a quiet cul de sac. The rent is £100 a week, which is pretty normal for over here. There is also no Council Tax over here either. I've been here for 17 years now, with my 19 year old son. I cannot imagine moving back to England, even Manchester where I am from. It would just be too expensive.
    Just wanted to chip in to say £25/week, i.e. £108pcm in 1984 is the inflation adjusted equivalent of £325pcm in today's money.

    I think the average rent for a student in London is smth like 600pcm today and that doesnt include breakfast & evening meals.

    So if we add say another 65pcm to cover breakfast & evening meals (ie. 665), then rents have basically doubled in the last 30 years (665/325 = roughly double)
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    (Original post by FightToWin)
    Currently I'm working in Newcastle and living on my own in a studio flat. I get paid hourly, not as part of a salary, but I've calculated that I'm earning about £11,200 a year (that's before tax is deducted, but since the tax allowance is £11,000 i'm barely paying anything in income tax). That JUST gets me by and leaves not an awful lot for anything else. I don't have a car anymore.

    If I was to get a job I'm considering applying for at Heathrow Airport and wanted to move to somewhere where public transport or even cycling was an option (not sure which zone Heathrow is in), how much would I actually need to get by? The salary on the job is listed as £25,000 to £27,000, would I be able to survive on that if i wanted to carry on renting my own studio flat? I've had a look online but can't find an awful lot on that, they list how much every individual thing but don't give an estimate on how much your wages need to be before tax to live anywhere. There was one website which said you'd need about £60-80k, but a) they were probably referring to bringing up a family and living comfortably with plenty of disposable income and b) how on earth would you need that much? Who works in jobs that pays that much these days??

    Anyone who actually lives by themselves in London reading this?

    Thanks
    Yes, 26k p.a. (i.e. about £1750 per month afer tax) is enough to rent a studio flat in the area near heathrow. Studio flats around there go for 700-800pcm (rightmove), so you will still have around £250 per week spare.

    Your bigger problem however is that heathrow is a little way out of london, and there is nothing in the area except the airport and houses. So if you want any sort of nightlife it will mean taking like an hour commute on the piccadilly line into london.

    I used to do this a lot as my gf worked at Heathrow and lived near the airport.
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    (Original post by Virgil.)
    Yes, 26k p.a. (i.e. about £1750 per month afer tax) is enough to rent a studio flat in the area near heathrow. Studio flats around there go for 700-800pcm (rightmove), so you will still have around £250 per week spare.

    Your bigger problem however is that heathrow is a little way out of london, and there is nothing in the area except the airport and houses. So if you want any sort of nightlife it will mean taking like an hour commute on the piccadilly line into london.

    I used to do this a lot as my gf worked at Heathrow and lived near the airport.
    How much would the commute cost though?
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    (Original post by Sisuphos)
    How much would the commute cost though?
    http://content.tfl.gov.uk/adult-fares.pdf

    Zones 1-5. Daily Anytime. £11 for a return trip.

    Lets imagine you go into London twice a week, then that's £22 a week.
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    (Original post by tg1998)
    You'll survive on £25k. But frankly do you want to be living on the financial edge? My stepfather used to live on £60k in Camden and found it tough. Tbh heathrow isn't really London. Frankly it's just inside the m25. I wouldn't bother unless you can get financial support from family. It will cost a lot to move back again if you don't like it.
    Is this 60k just supporting himself - or are you neglecting to mention that it ws 60k to support a family?

    If he was struggling on 60k just supporting himself, then somewhere we was definitely making poor financial decisions.
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    (Original post by Virgil.)
    Is this 60k just supporting himself - or are you neglecting to mention that it ws 60k to support a family?

    If he was struggling on 60k just supporting himself, then somewhere we was definitely making poor financial decisions.
    Should have made myself more clear. Supporting a family with a small mortgage.
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    Whats wrong with you people I rent A 2 bed aparment in london its very at 300 a week .people need to get better qualified and stop moaning
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    £45k PA or it's just not worth it.

    (Original post by stevie.dunkley1)
    Whats wrong with you people I rent A 2 bed aparment in london its very at 300 a week .people need to get better qualified and stop moaning
    Renting a 2 bedroom apartment for £300 is no way a good deal. You're basically having a minimum wage taken out of your paycheck for the privilege of living like an animal in cramped conditions.
 
 
 
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