The top most affordable and practical areas to live in London

Ray Victor
Last Updated:
September 25, 2023

Are you looking to move to London to start a new life? Or you are a young professional wishing to get a taste of independent life but find most areas in London exceed your budget.

London has quickly become one of the most famous cities in the world. It is no secret that many young professionals wanting to launch their careers are building a life here

But, while London is full of young professionals trying to make it,  living here can get expensive. And, finding a property that meets your budget and housing needs can be challenging. 

With the latest inflation rates, it is no wonder that people are looking for ways to save up on rent while living the London life. 

And if you are adamant about moving somewhere in London, here are some of the best and most practical areas for you to consider. If you can, try to conduct a live visit for a better idea of the area and see how well it goes with your personal taste.

1. Bexley 

Bexley offers young professionals some of the most affordable rental rates in London. With a stable neighborhood, Bexley is a place that comes up when people talk about inexpensive places in London. 

It is amusing how Bexley continues to dominate this category year after year. People who desire a bigger home with space to spare and still have a good bank balance choose Bexley as their residence.

2. Waltham Forest 

Waltham Forest is well connected to London City Center thanks to easy access to several bus lines. Walthamstow is home to the more reasonable apartments. - While Epping Forest also has grander Victorian mansions. 

In Waltham Forest, the average rent for a 4-bedroom property is £2,215 per month. - When divided among the occupants, comes to £553.75 per person.

3. Redbridge

Redbridge is the next cheapest area to rent on our list.  Although it is a little farther out and takes a little over an hour to drive to London, it is still a good choice. Redbridge is the ideal location for families wanting to rent because of its family-friendly nature. With a list of good schools and spacious green parks, Redbridge is an excellent choice.

Three-bedroom homes are currently listed for £1,630 per month. Four-bedroom homes get listed for £2,014 per month.

Advice for smaller properties 

When you do begin looking at properties, you might discover that size ends up being a sticking point. Apartments or smaller homes are the most common and budget-friendly option for young professionals. But, this means you will be compromising on space. 

But, there is another option that offers room for negotiation. Renting a self-storage unit will be the best idea for anyone looking for some extra space. - Without having to go broke on apartment listings.

Plus, all the rent you will be saving on by choosing to go with a smaller space could help boost personal savings. Yes, it might take some time to get used to, but it is an excellent idea in the long run. You get to save most of your money and still enjoy London life.   

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