Cost of Living in Manchester: Your simple guide

Manchester is the jewel in the crown of Northern England in terms of offering a fast-paced, fun and financially attractive lifestyle.  But how expensive is it to live here? How does it measure up against the likes of London and other parts of the UK? We review the cost of living in Manchester, as this is always a major consideration for anyone wanting to move here.

In this simple guide, we’ll take you through the main cost of living considerations of living and working in Manchester. As an added bonus, we’ll point you towards some prime property prospects that won’t break the bank. At the end of the guide, you can find developments that offer the best value for money, according to their residents.

What is the yearly average cost of living in the UK?

Over recent years, the UK has experienced the most rapid cost of living rise in recent memory. According to the Office for National Statistics (ONS), consumer price inflation reached its highest level in 40 years in October 2022. Although inflation has slowed over the past 12 months, UK residents are still feeling the squeeze. The annual average cost of living in the UK is around £21,000 for an individual and £49,000 for a household of four.

How much money do you need to live in the UK comfortably?

How much you need to live comfortably in the UK is a matter of personal tastes and budgeting priorities. However, you should be earning at least enough to cover the average cost of living, plus enough to go towards savings and luxuries. According to the ONS, the UK average annual earnings for an individual on regular pay (salaried, self-employed, etc) in July 2024 was just over £33,000.

Earning at this national average level should be enough to live comfortably in the UK.

Is living in Manchester UK expensive?

Manchester is a big city but it’s also considered to be one of the most affordable major cities in the world. Time Out Index named it the least expensive world city in 2022, where only 10% of resident Mancunians said they thought it was expensive to live here.

The cost of living in Manchester remains extremely competitive when put against similar big city living environments in the rest of the UK.

How much do you need to earn to live in Manchester?

To live comfortably in Manchester, you’ll need around £847 per month plus rent or mortgage costs. This is the recent average cost of living estimate for an individual living in Manchester.

What is HomeViews?

How much are house prices in Manchester?

Surprisingly, despite the property investment boom that continues in Manchester, property prices remain highly competitive. Rightmove’s recorded house price average for Manchester in July 2024 is £261,370. Flats in Manchester are even more affordable, averaging around £178,489.

Are house prices still rising in Manchester?

Despite the stagnating UK property market, house prices in many areas of Manchester are still rising, with the city labelled a ‘property powerhouse’ in a recent analysis. In July 2024, average sold prices across Greater Manchester were at a similar level to the same time a year ago, while prices have fallen in other parts of the country.

While the property market has experienced a slowing in many of the areas of the UK, including prices stagnating in London, Manchester is seemingly bucking the trend. This means Manchester remains a competitive property market for a city of its size and stature, with plenty of remaining growth potential.

Is it expensive to rent in Manchester?

Renting in Manchester is relatively cheap for a big city. The median rent for the city is £1,415 per month. Meanwhile, median rent for a 1-bedroom apartment in the city is around £1,175 per month. A 3-bedroom property should cost around £1,750 per month.

Is it cheaper to live in London or Manchester?

It is significantly cheaper to live in Manchester when comparing it to London on almost every metric. Rent, a crucial cost of living consideration, is a massive 53% lower in Manchester. General consumer prices are around 20% lower too. Costs for entertainment options, transportation, sporting and leisure activities and cultural attractions are all lower in Manchester than in the capital.

Highest-rated new developments for value in Manchester

The following are a few of the top-rated Manchester developments in the ‘value for money’ category. They also happen to be among the top-ranked properties overall on HomeViews. Hopefully, this will point you in the right direction for finding some truly outstanding yet cost-effective options.


We hope this simple guide to the cost of living in Manchester will prove helpful. If you’re seriously considering moving here, check out our area guide below. Here, you’ll find plenty of background information on what it’s like to live in this amazing city.

Manchester

Manchester
Manchester is the second largest urban area in England, and is often thought of as the UK’s second city. Located in the north west of England nestled between Liverpool and Leeds, Manchester is also reportedly the UK’s fastest growing city economically. The area’s 2.8 Read more about Manchester

HomeViews is the only independent review platform for residential developments in the UK. Prospective buyers and tenants use it to make an informed decision on where to live based on insights from carefully verified resident reviews. Part of Rightmove since February 2024, we’re working with developers, house builders, operators, housing associations and the Government to give residents a voice, recognise high performers and to help improve standards across the industry.

written by

Jan Moys

A residential property expert with over 15 years’ experience creating content... Read all

A residential property expert with ov... Read all