Cost of Living in Manchester in 2024

Manchester is one of the best places to live in the UK. The 8th largest British city, with a population of more than 470,000 inhabitants, has a lot to offer: historical heritage combined with modern architectural trends, art galleries and concert halls, parks and green spaces, and legendary football teams.

Financial issues are a major consideration when relocating to Manchester. Let’s find out the cost of living in Manchester and whether the city is affordable for the average person. To find housing for purchase or rent, or for sale, visit Floople.

Median Salaries in Manchester

Manchester offers the highest average salaries in the Northwestern region. Employees earn about £43,500 annually, which is even higher than the average UK salary (£42,200). This makes Manchester among the best choices for qualified specialists.

The city’s unemployment rate is 4.7% – the index is higher than in the United Kingdom but lower than in other largest agglomerations.

Furthermore, the house price-to-earnings ratio in Manchester is 7.9 – a person needs 7.9 years to purchase a medium-priced property in the city. Such an index shows that Manchester is affordable enough to open up perfect youngsters’ horizons.

The Average Price for Manchester Property and Housing Costs

The average property price in Manchester is £248,000 – this index declined by 2% in the last 12 months. Budget house prices dominate the city’s real estate market. Within the previous year, 58% of all property sales included apartments priced from £100,000 to £250,000.

Property prices are rather affordable in Manchester, which has the 35th cheapest postcode area in the United Kingdom.

Real estate prices, as well as the average cost of living in Manchester, depend much on the city area. So, which Manchester areas are regarded as the best ones for living?

Ancoats: It is one of the most incredible areas in Manchester, rich in unique eateries and boutiques, and a magnet for creative businesses. The average price of a property is £282,239. Gorgeous terraced houses are available for £411,619 on average. Rental cost varies from £520 to £18,000 per month.

Castlefield: A living testament to Manchester’s rich history, this area dates back to the Roman Empire and offers a peaceful location in the heart of the city. The average house price is £241,958, with terraced properties costing £230,000 on average. Rental prices range from £325 to £4,500, making it an affordable and historic place to live.

Chorlton: It is a picturesque suburb with rural landscapes, calmness, and all the amenities for a comfortable life. The average cost of a house in Chorlton is £386,653. The monthly cost of renting Manchester property there ranges from £381 to £18,000.

Didsbury: Green spaces, splendid views, and Didsbury Park that is perfect for families with children. Medium-priced properties cost £431,733. This is one of the most expensive city areas. Rental monthly cost varies from £325 to £10,500.

Salford Quays: An area that attracts investments and new projects. The city centre is a 10-minute ride from Quays. A medium property costs £193,773 per month. To rent a flat in this area of Greater Manchester, one needs to pay from £381 to £52,535 monthly.

Energy Bills and Utilities

Apart from the rental price one needs to pay utility bills. Monthly utilities in a 2-bedroom apartment cost about £347 for two persons. In a 1-bedroom property utility bills for a single person cost £108 on average. Furthermore, you need to pay Internet bills of £27 every month.

Living Costs: Transportation, Education, Entertainment

We have already determined that Manchester is among the best locations to buy a property. Affordable house prices are combined with high average salaries and decent monthly income. What about other expenses?

Transportation Services Cost

According to the new course introduced by Mayor Andy Burnham, transportation tariffs were decreased. Adults pay up to £2 for a bus ticket and for children, the maximum ticket cost is £1. Furthermore, passengers may purchase a day ticket compatible with all city buses (£5 for adults and £2.50 for children). As such, adults may spend up to £150 per transportation services while children needn’t pay more than £75.

Education Expenses

Tuition is among the main expense items for students. Fees depend on a certain institution and vary from £13,000 to £38,000 annually. The best Manchester universities charge the following tuition fees:

• The University of Manchester: £9,250 annually (£21,000 for international students);
• Manchester Metropolitan University: £9,000 annually (£11,650 for international students);
• Royal Northern College of Music: £9,250 annually for residents and international students.

Food prices in Manchester

Food expenses depend much on a person’s lifestyle. The basic lunchtime menu costs about £14. As for a combo meal in fast food restaurants, pricing is £6. Here is the table of the most popular products and their prices in Manchester:

Normally, a person spends between £2,400 and £7,200 on food annually (£200 – £600 per month).

Entertainment Prices

Manchester offers a variety of entertainment options:

• For those who love spending time in a nearby pub, a dinner for two people will cost £37.
• Movie lovers need to have £18 for two tickets. When it comes to the theater, expenses augment to £129 for two persons.
• To buy a ticket to an average football game (EPL match) you’ll pay at least £ 32.

Furthermore, Manchester offers many free entertainment options – you can walk along the historic streets, enjoy picturesque landscapes, or rest in the nearest park.

Cost of living in Manchester: Summary

Manchester is among the best places to live in England for many reasons. First and foremost, the city unlocks a set of opportunities for students and young employees.

When it comes to the cost of living, Manchester is a winner. It’s one of the most affordable locations in the UK. For a single person, accommodation can start from as low as £1,296 per year. Education expenses can range from £9,000. And for your day-to-day needs, including transportation, food, and entertainment, you can budget from £4,700 annually.

Hence, the annual cost of living in Manchester starts from £5,996 (except for education) per year. With average salaries of £43,500, the city seems a perfect option to pave your path in Great Britain.