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How much do you need to live comfortably in Manchester

How much do you need to live comfortably in Manchester?

Manchester stands out as a premier destination in Northern England, renowned for its dynamic atmosphere, vibrant entertainment, and appealing economic opportunities. But what does it truly cost to reside in this bustling city?

The average annual budget for solo individuals is £33,600, while for couples, it’s around £49,670. On the other hand, families with two children should budget around £67,554.

With our extensive guide, we’ll break down the main things that affect the cost of living for anyone thinking about moving to and working in Manchester.

How much do you need to live comfortably in Manchester per month?

On a monthly basis, a family of four should anticipate expenditures of approximately $3,653 (or £2,881.1), exclusive of rent.

For single individuals or those living solo, the estimated monthly costs are approximately $1,076.9 (or £849.4), once again, excluding rent.

Ready to dive into the housing scene in this vibrant city? Whether you’re dreaming of buying your own slice of Mancunian paradise or scouting out the perfect pad to rent, we’ve got the scoop just for you.

Home Ownership

Home Ownership

Let’s kick things off with buying a property in Manchester. In 2023, properties in the city sported an average price tag of £294,102.

And if you’re eyeing a semi-detached beauty, you’re looking at an average price of £325,569.

Prefer something with a bit more charm? Terraced properties might be your jam, averaging at £241,070. And if you’re all about that cosy apartment life, flats are up for grabs at an average of £193,890.

Renting Costs

Renting Costs

Now, onto the rental vibes. Picture this: you’re on the hunt for the perfect rental space. Studios are calling your name at an average rent of £960 per month, showing off a spiffy 16.3% increase from last year.

One-bed apartments? They’re going for £1,061 per month, flaunting a 10.3% year-on-year boost. Need a bit more room to stretch out? Two-bed apartments are yours for the taking at £1,417 per month, up by 9.6% from last year.

And if you’re in the market for some serious space, three-bed apartments are commanding an average rent of £2,403 per month – that’s a jaw-dropping 30.6% increase from the previous year!

But hold onto your hats, folks – it’s not just about the numbers. The UK housing market is in tip-top shape, and Manchester’s rental scene is hotter than ever. With sky-high growth rates and a pinch of supply shortage, there’s never been a better time to snag a rental in this bustling city.

Costs of Food

Your grocery expenses might rank as one of the significant outlays in your budget, second only to what you shell out for your mortgage or rent.

So, we’ve compiled some information regarding food expenditures to help you get a gauge of how much you’ll need to eat heartily and comfortably as a Mancunian.

Average Price of Groceries

The price of food in Manchester is subject to variation based on the shopping spot, and luckily, there’s a plethora of supermarkets catering to diverse budgets.

Keep in mind that the supermarkets you frequent and the products you choose can sway the overall tally of your food expenditures.

To shed some light on the matter, here’s a side-by-side comparison of items snagged from a ‘budget’ supermarket and a ‘luxury’ one, featuring prices accurate as of July 2023.

ProductUnbranded (£)Branded (£)
Milk (4 pints)1.452.3
Eggs (6pk)1.52.65
Cheese (250g)2.652.85
Butter (500g)0.993.5
Bread (medium loaf)0.751.45
Box of cereal0.853.5
Orange juice (1l)0.952.95
Instant coffee (200g)2.257
Teabags (240pk)0.92.6
Mineral water (1.5l)0.71.15
Cooking oil (250ml)1.753.25
Ham (100g)0.921.25
Chicken breast fillets (2 portions)2.954.7
Minced beef (500g)2.494.65
Lamb chops (2 chops)34.4
Pork chops (2 chops)1.84
Bacon (500g)0.93.5
Prawns (160g)2.594.2
Salmon (2 fillets)4.65.3
Tinned tuna (3pk)24
Apples (6pk)12.2
Lemons (4pk)0.553
Carrots (500g)0.350.7
Tinned sweetcorn (198g)0.650.9
Potatoes (1kg)11.49
Tomatoes (235g)0.61.75
Mushrooms (250g)0.91.5
Pasta (500g)0.82
Rice (1kg)0.524.95
Soup (400g)0.452
Baked beans (415g)0.271.4
Mayonnaise (500ml)0.723
Ketchup (500g)0.62.5
Crisps (6pk)0.852.25
Deodorant spray (150ml)15
Shampoo (500ml)0.757
Shower gel (250ml)0.94.25
Hand wash (500ml)0.62.25
Toothbrush (medium-size, non-electric)0.255
Toothpaste (75ml)0.82.5
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Costs of Dining Out

Manchester, the unrivalled hub of the 24-hour party people, stands out as the ultimate budget-friendly playground for both students and working professionals.

Brace yourself for this revelation: our research reveals that a month’s worth of lively nights out would only set you back £173, tallying up to a reasonable £2,079 over the span of a year.

That’s based on the enticing premise of one night out per week, ensuring that every week of the year holds the promise of excitement and unforgettable memories. 

Utilities Prices

On the utility front, you’re looking at shelling out around £230 a month on average for a single person. But, of course, that can swing depending on how many people will be sharing the household, who’s supplying your energy, and how much juice you’re using it.

This amount covers your usual suspects like electricity, gas, and water. Luckily for students, they can catch a break and don’t have to worry about Council Tax.

Communication Costs

Here’s a breakdown to give you a clearer picture of the typical monthly expenses for phone and communication utilities:

  1. Mobile Phone Monthly Plan with Calls and 10GB+ Data: This usually comes to £15.89.
  2. Internet (60 Mbps or More, Unlimited Data, Cable/ADSL): You’re looking at around £29.52, but when you split it between two people, it comes down to £14.76 each.
Medical and Healthcare Costs

From our research, it appears that the average monthly expense for health insurance in the UK hovers around £60.09, totaling £721.08 annually.

These figures are based on an analysis of data from the five most prominent insurance providers in the UK, considering various postcode areas.

However, it’s important to note that your actual insurance bill might not align perfectly with this average.

Several key factors come into play, shaping the final cost you’ll face. Your age, location, preferred coverage level, and the specific insurance provider you opt for can all influence the digits on that bill.

Healthcare Insurance Costs Examples

Now, here’s the interesting part – there are some nifty ways to bring down the cost of your policy. You could tinker with the excess you’re willing to cough up for claims or dial down your coverage level a notch.

Below are examples of premiums (monthly expenses) associated with policyholders of different ages. This serves to illustrate the considerable range in pricing to provide you with an understanding of the variations.

Policyholder’s ageMonthly Premium (£’s)
20 years£33.27
30 years£42.12
40 years£53.74
50 years£69.28
60 years£102.04

Average Transportation Costs

Average Transportation Costs

In Manchester, you’ve got a variety of transportation options at your fingertips, including buses, trams, trains, and taxis. 

Let’s break down the costs for a better understanding of the necessary budget:

  1. Gasoline (1 litre) comes in at £1.51, and if you’re considering 60 litres, that totals £90.44.
  2. Taking the Volkswagen Golf 1.4 90 KW Trendline (or an equivalent new car) priced at £28,285, applying the rate of 0.0060134 results in an additional cost of £170.09.
Public Transportation

For public transportation, a single bus ride will set you back £2, but if you’re planning to hop on and off all day, the full day pass goes for £5. And if you’re looking to roam freely all week within Greater Manchester, you can snag a weekly unlimited travel pass for £21.

Now, when it comes to trams, the cost of a single ride ranges from £1.40 to £2.80. If you’re in it for the long haul and want an all-day tram pass, prices vary between £2.70 and £4.30, depending on the number of zones you’ll be cruising through.

As for trains and taxis, well, buckle up because the cost is a bit of a wild card. It all depends on where you’re headed and what time of day you’re making the journey. Keep those pockets ready for some variability!

Costs of Entertainment

Costs of Entertainment

Alright, let’s dig into the spending habits in a more laid-back manner. When it comes to dining out, we’re talking about £162.83 altogether.

Grabbing a bite at a no-frills joint; a meal might cost you around £15.00, and let’s say you go out twice a month that will add up to £30. On the other hand, if you’re choosing fast food joints like McDonald’s, expect to fork out about £8.00 for a combo meal.

Now, if you’re feeling fancy and going for a dinner date at a mid-range restaurant, budget around £60.00 per meal, per person.

Additionally, if you’re planning to splurge on some booze, a local beer (0.5 litres) might set you back £5.00, while an imported beer costs around £7.00. For cocktail lovers, you’d be pleased to know that they’re fairly affordable at £9.

Budget Friendly Places to Visit

There’s a bunch of savvy money-saving tips to keep in mind when exploring Manchester. From a complimentary bus service that loops around the city centre to pocket-friendly hotel deals and half-price dining offers.

Navigating a new city, especially if you’re on a budget, can be a tad overwhelming. A fantastic way to kick off your Manchester experience, especially for newcomers, is by seizing the opportunity for a Free Manchester Walking Tour.

These tours assemble daily at 11 am by the Alan Turing Statue in Sackville Gardens.

In addition, some of the coolest budget-friendly activities in Manchester won’t cost you a penny, especially when it comes to exploring its numerous museums, all of which, much like other cities in the UK, offer free admission.

Budget Friendly Places to Visit - 2

When it comes to outdoor leisure, strolling through a park or enjoying a laid-back picnic is another wallet-friendly Manchester experience.

Heaton Park, located about 6.5 km (4 miles) north of the city centre, takes the crown as the largest and most budget-friendly park in the area.

Average Salaries

Average Salaries

The average yearly paycheck in Manchester hits around £37,500, which breaks down to about £19.23 per hour.

If you’re just kicking off your career, entry-level positions usually start at £27,500 per year. Now, for the seasoned pros out there, some folks are pulling in a good £57,500 per year.

Financial and Insurance Industry

Manchester’s got this massive scene for financial, professional, and business services (FPBS) – it’s the biggest outside of London, employing over 280,000 folks. And you won’t believe the average salary in this buzzin’ industry – it’s a good £48,197 a year. Not too shabby, right?

Information and Communication Industry

Manchester is carving out a major spot in the tech scene, especially as part of the Northern Powerhouse initiative aiming to balance out the economy’s focus on London and the South East.

And here’s a little nugget for you – the average annual salary in the city clocks in at a sweet £44,733.

Education Industry

If you’re eyeing a career in education, Manchester’s got your back with a plethora of schools to pick from.

Boasting 170 primary and secondary schools, many ranking in the top 5% nationally, there’s a wide array of opportunities spread across the city.

Plus, the average annual salary comes in at a respectable £36,362. Now, that’s a win-win for an education-focused hustle in this vibrant city!

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