City comparison · Rent & affordability
New York vs London: rent and cost of living
You can't compare New York and London rent in the same currency — but you can compare what share of income renters actually spend. In New York, the median renter spends 38% of income on rent; in London, it's 41%. That 3-point gap is a cleaner measure of financial pressure than raw rent amounts.
New York
Confidence: medium
London
Confidence: high
What renters actually spend (% of income)
New York
London
These are what renters actually pay — not recommended targets.
Salary needed for median rent (30% rule)
Affordability verdict
New York is slightly easier on the wallet. The median renter spends 38% of income on rent there, versus 41% in London — a 3-point gap that compounds over time.
Frequently asked questions
Is New York cheaper than London to rent in?
Yes — New York is more affordable relative to local incomes. The median renter in New York spends 38% of gross income on rent, versus 41% in London.
What salary do you need to rent in New York vs London?
To comfortably afford median rent at the 30% rule, you need $128,000/year in New York and £84,000/year in London.
What is the average rent in New York compared to London?
Median 1-bedroom rent is $3,200/month in New York and £2,100/month in London. Budget options (bottom 10%) start at $1,900 and £1,500 respectively.
Explore New York in detail
Explore London in detail