Cost of Living in London: Accommodation, Utilities, & More

What is the Average Cost of Living in London?

Living in London can be quite expensive. But why?

Why is London so expensive? Multiple factors affect the cost of living in London for students; some major factors include a stable property market, increasing overheads, competition, compliance requirements, and construction costs.

London is the fourth most expensive city in the world, where the cost of living generally ranges from £18,000 to £40,000 (INR 20.3 to 44.9 Lakhs) a year. Below, you will find a breakdown of the different student housing options and costs:

• Accommodation Choices: Your cost will depend on your choice of accommodation. You can choose from rented accommodations, on-campus housing, or other options.
• Rented Accommodation: If you choose a small place without sharing, your rent will be between £750 and £1,130 (INR 84,270 to 1.2 lakh) per month.
• On-Campus Housing: If you are lucky enough, you can get on-campus housing, which can cost £848 (INR 95,281) per month.
• Part-Time Jobs: You can also choose to work part-time, which can help lower your expenses. On average, you can earn around £200 to £400 (INR 22,472 to 44,944) per week at £11.44 (INR 1,285) an hour.

You can find the cost of living in London with the help of the table below; it is a breakdown of your overall needs like accommodation, food and more, along with their average cost in INR

Why Choose London?

As mentioned above, city of London is a global hub of knowledge, being home to some of the top universities in the world. Around 1,24,000 international students chose London for their higher education in 2024.

But Why?

Below are some of the reasons why students choose London, and why you should choose too:

Career opportunities: If you want to develop your career in IT, business, or any other professional service that requires a top degree then London offers some of the best career opportunities. London is home to the world’s two of the big four accounting firms, PwC and EY, and top companies like Clifford Chance, BBC, MediaCom, and WPP plc. When you study in London, you can get access to some of this business after your degree.

Huge Student Population: London also has an international student population of 1,24,000. This can help you build a rich student life in London and create a network in societies, support groups, and social clubs. No matter where you're from, you'll find people from similar backgrounds to hang out with as and you'll make contacts from all over the world.

Global Hub: London is a global hub, quite truly. It has the headquarters of hundreds of companies and there are over 300 languages spoken, from Bantu to Bengali. You'll experience a diverse culture in the city of London, with Anglo-Indian curries on Brick Lane and authentic Sichuan cuisine in Chinatown.

Amazing Place to Live: London is one of the most exciting cities to live in, it has museums, galleries, concerts, clubs, and always something to do. Most student accommodation in UK is in the heart of the vibrant East End and is close to tech companies, cool bars, and art galleries.

What are the Key Factors Affecting the Cost of Living in London

Yes, living in London can be exciting and adventurous, but it is also important to understand what are some of the key factors that can affect your overall expenses. Accommodation, food, healthcare, and transportation are some of the key factors that can affect your budget. Below you’ll find a detailed explanation of these key factors that affect the cost of living in London:

Accommodation Costs

Finding a place to live in London can be a little expensive. If you rent an apartment in the city center, then it can cost around £1,500 to £2,500 (INR 1.6 to 2.8 lakhs) per month. However, if you decide to live a little further from the centre then the prices can get much cheaper. Generally, Student housing can cost around £1,000 to £1,500 (INR 1 to 1.6 lakh). You can also choose to share your space with other students or renters which can make accommodation much more affordable.

Food and Grocery Expenses

On average you might spend £235 (INR 26,404) per month on your groceries, depending on your student life in London. If you choose to eat outside, then the cost can go up to £20 (INR 2,247) a meal. Whereas a three-course meal for two can cost around £80 (INR 8,988).

Healthcare and Insurance

UK’s health insurance is generally free because of the National Health Service (NHS). But if you want to get private health insurance in the city of London then on average healthcare and insurance can go up to £79.62 (INR 8,946) per month. For immigration students, they have to pay an Immigration Health Surcharge (HIS) of £776 (INR 87,191) per year.

Transportation Costs

As a student, you can choose to travel through public transport, you’ll need a monthly Oyster card for London zones 1-3. This can cost you around £156 (INR 1.7 lakh), and if you decide to live in central London then the passes for train and bus can range from £60 to £110 (INR 6,741 to INR 12,359) per month.

Miscellaneous expenses

Other miscellaneous expenses and London living cost like utilities, mobile plans, entertainment, and personal expenses can also eat up a significant chunk of your overall budget.

For a medium-sized apartment, the monthly utility bill can come to around £240 (INR 26,966). Whereas, mobile plans with unlimited data can start at £20 (INR 2,247) per month. Entertainment, like streaming subscriptions and social outings, can add up to £70-£100 (INR 1 lakh) per month.

Budgeting Tips to Manage Costs in London

Living in London is expensive, but you can manage it by creating a realistic budget. Below are some budgeting tips that can help you live a healthy lifestyle and reduce London living cost as a student.

1. As a student, you can get up 50% student discount on Oyster and contactless travel cards. Also, make sure to get a railcard for 30% off national rail services.
2. For discounts on clothes, makeup, food, accessories, and electronics, you can download money-saving apps like UNiDays. You can also check your university’s apps for additional discounts.
3. Look for vouchers, student discounts, and special deals at various places in London.
4. Find an economical option by comparing costs and go for shared student housingwith a friend.
5. Stick to your budget by using cash. Generally, contactless cards make it easy to overspend. So avoid them.
6. To cover your living expenses and have some extra savings, start a part-time job.

Conclusion

And that’s a wrap on the cost of living in London.You can get a general idea of how much it can cost you to live and study in London. It is true that for international students, living in London can be quite expensive. However, with our budgeting tips and a little planning you can manage your expenses easily.

Are you looking for affordable student accommodation in London? Don’t worry, Graddinghomes.com can help you find a place that best suits your needs and budget.

FAQs

1. Which is the Cheapest City in the UK for Indian Students?

The cheapest city in the UK for Indian students is Birmingham. Birmingham is one of the most affordable cities for international students and is also home to top universities like The University of Birmingham and Aston University.

2. What is the Cost of Living in London for a Student Visa?

The cost of living in London for a student visa can be around £1,200 to £1,400 (INR 1.3 to 1.5 lakh) per month. It is a bit cheaper outside London at £900 to £1,100 (INR 1 to 1.2 lakh) per month.

3. Is London Expensive for Indian Students?

Yes, London can be a bit expensive for Indian students. Indian students in London usually spend about £1,300 to £1,400 (INR 1.4 to 1.5 lakh) monthly. On the other hand, the cost is between £900 and £1,300 (INR 1 lakh and 1.4 lakh) per month in other parts of the UK.

4. What is a Realistic Student Budget in London?

For a realistic budget, you can expect to spend between £1,200 and £1,500 (INR 1.3 and 1.6 lakh) per month. This also includes housing, food, transportation, and entertainment.

5. What is the Average Salary for Students in London?

The average salary for Part-time jobs is around £9 to £12 (INR 1,000 to 1,348) per hour. If you work 20 hours a week, you can earn between £9,360 and £12,480 (INR 1 lakh and 1.4 lakh) annually.