Cheapest Places to Live in London

By PropertyClub Team
Jan 31st 2024
London is one of the most expensive cities in the world, but that doesn't mean it's impossible to find affordable housing. If you're on a budget, there are still a number of neighborhoods where you can find relatively cheap rent. Here are the eleven most affordable places to live in London in 2024.

hash-mark11 Cheapest Places to Live in London

  1. Hillington
  2. Barking and Dagenham
  3. Bexley
  4. Croydon
  5. Havering
  6. Newham
  7. Hounslow
  8. Enfield 
  9. Sutton
  10. Redbridge
  11. Waltham Forest

hash-markHillingdon

Hillingdon is the most affordable place to live in London, making it a popular choice for residents. With an average home price of £303,486 and an average rent of £1,270, the cost of living is relatively reasonable compared to other parts of the city. 

Situated as the second largest and westernmost borough in West London, Hillingdon comprises towns such as Hayes, Ruislip, Northwood, West Drayton, and Uxbridge, offering a diverse mix of communities. 

hash-markBarking and Dagenham

Barking and Dagenham, located in East London, is the 2nd cheapest place to live in London. With a population of 211,998, it consists of three main towns: Barking, Chadwell Heath, and Dagenham. 

The average home price in this borough is £357,603, making it an affordable option for many residents. If you're looking to rent, the average monthly rent is around £1,250, making it a budget-friendly choice in the bustling metropolis of London.

hash-markBexley

Bexley is also one of the cheapest neighborhoods in London, with an average home price of £381,785 and an average rent of £1,633. It offers residents a relatively low crime rate, providing a safe and secure environment. 

One of the notable features of Bexley is its collection of more than 100 parks and green spaces, offering residents ample opportunities to enjoy nature and outdoor activities. With its affordable housing options, safety, and abundant greenery, Bexley stands out as a welcoming community for those looking for a comfortable living experience in London.

hash-markCroydon

Croydon, a London borough in south London, is known as another affordable place to live in the bustling city. With an average rent of £1,242 and an average home price of £420,438, it provides a more budget-friendly option for residents. 

The borough has a population of 390,719 and is at the center of the only tramway system in southern England, offering convenient transportation options for its inhabitants.

hash-markHavering

Havering, located in East London, is known as an affordable place to live in the bustling city. With a population of 257,810, the average home price is £439,202, and the average rent is £1,251. 

The borough has a suburban character, featuring extensive protected open spaces. Notable places of interest in Havering include The Diver, Brookside Theatre, and Langtons, adding cultural and recreational charm to the community.

hash-markNewham

Newham, located in East London, is another affordable place to live in the city. It gained prominence as the host of the 2012 Olympic Park, leading to enhancements in infrastructure and amenities. 

With an average home price of £461,514 and an average rent of £1,450, it offers more budget-friendly housing options compared to many other London boroughs. The borough has a population of 352,005, making it the third most populous among London's boroughs.

hash-markHounslow

Hounslow, the next affordable place to live in London on our list, offers a welcoming community with an average home price of £461,767 and an average rent of £1,400. This area is not only budget-friendly but also boasts cultural and recreational spots, including the London Museum of Water & Steam. 

Nature enthusiasts can explore the attractions of Osterley Park, Gunnersbury Park, Syon House, and Chiswick House. Additionally, Hounslow is home to the head office of DHL Air UK, adding to its economic vitality.

hash-markEnfield

Enfield, the northernmost London borough, is known for being an affordable place to live in the bustling city. With an average home price of £464,665 and an average monthly rent of £1,350, it provides a budget-friendly option for residents. 

The borough has a population of 333,794, and its western part is primarily residential. Notable shopping centers in Enfield include those in Southgate, Palmers Green, and Cockfosters, making it a convenient and accessible area for residents to meet their daily needs.

hash-markSutton

Sutton is an affordable place to live in London, with an average home price of £470,120 and an average rent of around £950. The borough is known for having some of the best-performing schools in the country. Additionally, Sutton boasts low crime rates, making it one of the safest areas in London to reside.

hash-markRedbridge

Redbridge, located in London, is known as an affordable place to live, with a population of 303,858 people. The area boasts over 35 parks, playgrounds, and open spaces, providing a green and pleasant environment. 

The average home price in Redbridge is £529,799, making it relatively affordable compared to other parts of London. The average rent is around £1,343. Notable places of interest in the area include Valentines Mansion and Redbridge Museum, adding cultural and historical charm to the community.

hash-markWaltham Forest

Waltham Forest, an outer London borough formed in 1965, is known for being an affordable place to live in London. With an average home price of £534,247 and an average rent of £1,430, it attracts residents seeking more budget-friendly living options. 

The borough has a population of approximately 276,700. Waltham Forest gained international attention as one of the host boroughs for the London Olympics in 2012, showcasing its diverse and vibrant community on a global stage.