What salary do you need to live comfortably in Cambridge UK?

To live comfortably in Cambridge, a minimum of £14,600 per month is required. Other than government financial requirements, Cambridge is 15.5% more affordable than London in terms of consumer prices and 39.3% more affordable than the capital in terms of rent. Listed below are the main costs of living in Cambridge, UK.

How much do you need to live in Cambridge?

A family of four estimated monthly costs are 3,773.9$ (2,976.5£) without rent. A single person estimated monthly costs are 1,087.4$ (857.6£) without rent. Cambridge is 31.1% less expensive than New York (without rent). Rent in Cambridge is, on average, 55.6% lower than in New York.

What is the average salary in Cambridge UK?

£39,230 (GBP)/yr

The average salary for jobs in Cambridge, United Kingdom is £39,230 (GBP) per year or an hourly rate of £19 (GBP).

What is a good livable salary UK?

In 2023, we have calculated that a single person needs to earn £29,500 to have an acceptable standard of living, up from £25,000 in 2022. A couple with two children need to earn £50,000, compared to £44,500 in 2022.

Is it worth to live in Cambridge?

Combining the hustle and bustle of a small city with many parks and surrounding green areas, Cambridge is a great place to live for anyone looking for a good balance between city and country living.

What It Costs to Live in London in 2024

Where do the rich live in Cambridge?

Newnham. Enjoying a 'village feel' yet with great access to the city centre and colleges alike, Newnham is one of the most affluent suburbs of Cambridge. It enjoys national recognition – not just as one of the best places to live in Cambridge, but as one of the best places to live in the whole of the UK.

Is Cambridge UK a wealthy area?

Following a huge influx of high-tech and pharmaceutical companies in recent years, Cambridge is now one of the least affordable places to live in the UK. According to property website Zoopla the average house costs about £440,000, nearly 13 times more than the city's high median annual salary of £34,400.

Is 40k a good salary UK for one person?

Final thoughts - is 40k a good salary? Earning a 40k salary in the UK can generally be considered a good income that allows for a comfortable lifestyle. It provides the means to cover living costs, including housing, utilities, transportation, and leisure activities.

Is 50K enough to live in UK?

However, according to the Office for National Statistics (ONS), the average salary in the UK is £33,000 per year. So with a salary of 50K, you can afford a comfortable lifestyle in most parts of the UK.

Is 30k enough to live in UK?

In conclusion - is 30k a good salary? Earning a 30k salary in the UK can provide a reasonable income to cover living costs and maintain a comfortable lifestyle in many regions. While it might be more challenging to afford housing in expensive areas, there are still options available in other parts of the country.

What's a good salary in Cambridge?

Cambridge average salary comparison

The average salary is ranging between £33.1k in East Cambridgeshire and £51.5k in South Cambridgeshire. The UK average salary was £42.2k in 2023. Gross average salary is calculated for full-time employees. Employee has to be in the same job for over 12 months.

What is a respectable salary UK?

A good salary in the UK varies based on factors like location, age, experience, and industry. Generally, it should cover living expenses comfortably and enable some savings. In London, for instance, a good salary might be at least £45,000 annually to maintain a comfortable lifestyle.

What is the employment rate at Cambridge?

Of people aged 16 to 64 years living in South Cambridgeshire, 81.4% were employed in the year ending September 2023. This is an increase compared with the year ending September 2022 when the local rate was 78.3%.

What is the most expensive area to live in Cambridge?

Newnham has not only the most expensive properties in Cambridge but in the whole of the county ended up with a 14% decrease from £955,000 to £821,000. It is arguably the best area in all of Cambridge and Cambridgeshire to live in.

Why is rent so expensive in Cambridge?

Alex Babouris, founding director of a Cambridge-based letting agency, said a number of factors contributed to increasing rents. These include mortgage costs, utility costs, and changes to taxes.

Is 40k a low income UK?

Interestingly, the average annual salary across the UK is £29,600 per year (£1,950 per month). This national average is considerably lower than the 40,000 a year, which is considered to be a good income.

Is 1500 a month enough to live on UK?

There are also significant regional differences when it comes to general living expenses such as travel, food and childcare. It's thought that a single person living in London will need around £1,500 per month to cover their living expenses and just over £1,200 in Manchester.

Is 52k a year a good salary UK?

Final thoughts - is 50k a good salary? Earning a 50k salary in the UK can generally be considered a good income that allows for a comfortable lifestyle. It provides the means to cover living costs, including housing, utilities, transportation, and leisure activities.

Can I afford a house on 40k a year?

If you have minimal or no existing monthly debt payments, between $103,800 and $236,100 is about how much house you can afford on $40K a year. Exactly how much you spend on a house within that range depends on your financial situation and how much down payment you can afford to invest.

What is a comfortable salary for a single person UK?

Here are some figures to give you an idea. A single person with no children needs at least £1,400 a month to live on. This is an average yearly salary of £17,000 after tax. A couple with no children needs at least £2,100 a month.

What is a high earner UK?

The median income was £565 per week or £29,380 per year. Anyone making more than that per year (and this is net, not gross) is in the top 50% of earners in the UK. The top 5% earn £7,251 per month or more. That's shockingly only £87,012 per year. Anyone making a six-figure salary is in the top 5%.

What is the nicest part of Cambridge?

Is Cambridge UK expensive to live?

To live comfortably in Cambridge, a minimum of £14,600 per month is required. Other than government financial requirements, Cambridge is 15.5% more affordable than London in terms of consumer prices and 39.3% more affordable than the capital in terms of rent.

What is the richest street in Cambridge?

Chaucer Road in Cambridge was identified by Halifax as the most expensive street in the East of England at £4.2m per average home. Benar Headland in Abersoch was named as Wales's most expensive street, with an average price of £1.7m.