Top 5 Cheapest places to live in London with the Best quality of life – 2023

The City of London is the capital of the UK, located in the southern part of England along the River Thames. It is known as one of the leading global cities with a rich history and distinctive landmarks. From the iconic St. Paul’s Cathedral to the serene Hyde Park and the historic London Bridge, the city balances modern and Victorian architecture.

London is known for having a relatively high cost of living compared to other cities; however, the city is divided into different boroughs, each offering unique characteristics and greater budget flexibility.

Read on to discover the top 5 Cheapest places to live in London, UK with the Best quality of life.

Apartment in London

Methodology

We based our ranking of the 5 cheapest places to live in London on the average cost of buying a property in September 2023, the average cost of rent for a 1-bed flat in December 2023, and the quality of life. We collected the data from UK House Price Index England and Rightmove.uk. To help you compare, as of September 2023, the average cost of buying a property in England is £310,000 and the average rent for a 1-bedroom flat is  £1,649.00 as of December 2023. 

The “Best quality of life” aspect is measured based on feedback from real people who have moved to this area in our database or real people from trusted online forums. More specifically, we look for positive feedback on job opportunities, quality of education, quality of healthcare, feeling of safety, public transportation, environment (cleanliness), as well as availability of recreational facilities and parks.

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1. Barking and Dagenham

Apartment in Barking and Dagenham
  • Average 1-bed flat rent: £1,490
  • Average property buying cost: £346,000

Barking and Dagenham is a borough located in East London, just 9 miles east of Central London. It is placed along the River Thames to the south, offering beautiful views across the city.  It features parks like Parsloes Park, and nature reserves such as the Chase Nature Reserve, providing residents with opportunities for outdoor activities and relaxation.

Barking and Dagenham offer convenient access facilitated by excellent public transport networks, particularly along key strategic routes connecting the east and west sides to central London and Essex.

This enhances its appeal as a great place to live and work within the Greater London area. 

The average rent for a 1-bed flat is £1,490, and the average property price is £346,000 as of December 2023.

Ibbd.gov.uk (Dec 2023),Right Move (Dec 2023) & Gov.uk (Dec 2023)

Barking and Dagenham, London

2. Bexley

Apartment in Bexley
  • Average 1-bed flat rent: £1,550
  • Average property buying cost: £396,000

Bexley is a suburban borough in the southeast of Greater London, known for its mix of green spaces and residential areas, offering a quiet atmosphere. Residents now not only enjoy the benefits of leisurely walks through over 100 charming parks, but also have access to a range of health programs and services designed to support their physical and mental well-being to live better. 

Residents have easy access to a diverse range of amenities, including great shops, coffee shops, restaurants and pubs, making it an ideal choice for young professionals in London. As of December 2023, the average property price is £396,000 and 1-bed flats are renting for around £1,550.

Bexley.gov.uk (Dec 2023), Right Move (Dec 2023) & Gov.uk (Dec 2023)

Bexley, London

3. Newham

Apartment in Newham
  • Average 1-bed flat rent: £1,800
  • Average property buying cost: £415,000

Newham, East London, is a dynamic borough known for hosting the 2012 Summer Olympics. Home to iconic landmarks like the London Aquatics Centre and Olympic Stadium and Queen Elizabeth’s Park, it offers to its residents a lively environment with diverse markets, green spaces, and cultural events.

It is one of London’s youngest boroughs, with a growing economy and a majority of residents employed in professional occupations. The town of Stratford is considered as a hotspot in East London, with employment opportunities in public administration. It is also considered affordable to live here, as of December 2023, the average property price is £415,000 and a 1-bed flat is renting for around £1,800.

Newham.gov.uk (Dec 2023), Right Move (Dec 2023) & Gov.uk (Dec 2023)

Newham, London

4. Croydon

Apartment in Croydon
  • Average 1-bed flat rent: £2,000
  • Average property buying cost: £431,000

Croydon is a borough located in South London that offers a mix of modern amenities and historical charm. Its residents enjoy big shopping centers nearby, such as the Centrale Shopping Centre, and various cultural venues like Stanley Arts. Additionally, it hosts numerous cultural events that celebrate its diverse community and rich heritage, which is one of the reasons why in 2023 it has been named the London Borough of Culture.

Croydon features both skyscrapers and historic architecture, mixed with green spaces like Lloyd Park, providing residents with a serene atmosphere. As of December 2023, the average property price is approximately £431,000, with a 1-bedroom flat renting for around £2,000.

Croydon.gov.uk (Dec 2023), Right Move (Dec 2023) & Gov.uk (Dec 2023)

Croydon, London

5. Sutton

Apartment in Sutton
  • Average 1-bed flat rent: £1,940
  • Average property buying cost: £438,000

Sutton is the ideal borough for young people looking for a mix of urban and suburban living. Residents enjoy in the heart of the town two shopping centers: Times Square and the Saint Nicholas Shopping Centre, with different amenities like groceries, restaurants, cafés nearby, as well as different schools for kids and people of all ages. Sutton also offers plenty of green spaces like Beddington Park, with beautiful grounds and lake ideal for families to spare time.

Commuting around Sutton and neighboring towns is easy thanks to its convenient transportation options. There are 54 buses for an easy commute, and the Sutton Station is connected to three major South-East London stations by train. Living in Sutton is also budget-friendly. As of December 2023, the average property price is £438,000, and the cost of renting a 1-bed flat is around £1,940.

Enjoy Sutton (Dec 2023), Right Move (Dec 2023) & Gov.uk (Dec 2023)

Sutton, London

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Conclusion

Every London borough has its own unique charm and offerings that can align with your preferences and lifestyle. The selection of a London borough depends on individual preferences, whether you seek the tranquility of nature, the excitement of a dynamic urban environment, or a combination of both. As you explore the best affordable places to live in London, you will find numerous options. Consider factors such as local shops and restaurants, the quality of schools, and the convenience of public transport in making your decision.

Are you moving to London soon? Check out some of the best removal companies in London and the surrounding areas.

 

Last year’s ranking (2023)

  1. Barking and Dagenham
  2. Bexley
  3. Croydon
  4. Sutton
  5. Newham
  6. Havering
  7. Greenwich
  8. Hounslow
  9. Enfield
  10. Lewisham

 

Our rankings are meticulously curated, considering affordability and quality of life. It’s important to highlight that certain places were excluded from last year’s lists due to insufficient rental data. Moreover, entries with higher average housing prices in the previous year were excluded from the current rankings. We encourage readers to weigh these rankings in light of their individual needs and preferences for a more informed decision-making process.

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Ann Nacario

The author

Meet Ann – our head writer with a knack for making moving and city living a breeze. From the many details of moving to picking the perfect moving company, she’s your guide. Ann has a friendly yet detailed approach to ensure your move goes off without a hitch. When she’s not writing about relocation, it will always be on her mind, but you’ll catch her spending time with her three furry friends.

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