Can I afford a house in London on a £30,000 salary?
London's average house price of around £525,000 is 17.5 times a £30,000 salary — the rawest mismatch in the UK housing market. For most buyers at this income, outright solo purchase in the capital is not realistic without either significant inherited wealth or a joint application. Shared ownership and part-buy schemes are the practical entry points.
Based on typical UK tax bands and lending criteria. This is an estimate, not financial advice.
Personalise your calculation
Your salary is pre-filled based on this page. Add your monthly expenses, savings, and any existing debts for a complete picture.
Your finances
Adjust the sliders to match your situation
Try a scenario
Your gross (pre-tax) annual income
Bills, food, subscriptions, travel, etc.
Monthly loan, credit card, or other debt payments
Your total savings (helps with deposits)
Your affordability
Results update as you type
Your affordability is broadly in line with the UK average
You are well-positioned to afford a home, rent, or car within the typical UK range. Small improvements to expenses or savings will open up more options.
Safe monthly disposable income
After expenses and debt, you have around £1,350 left each month — with a 10% buffer built in for unexpected costs. This is comfortable for most people at this income level.
Home you could realistically afford
Around £173k is a realistic target based on your salary, savings, and outgoings. Outside London, this budget typically goes further.
Most UK buyers with a similar income typically purchase between £152k and £193k
Recommended rent budget
Up to £875/month keeps your finances healthy based on the 30–35% income rule. Anything above this may start to feel like a stretch.
Car finance calculator
Most cars in the UK are purchased using finance (PCP or HP), where buyers pay a deposit and a fixed monthly cost. This estimate gives a realistic guide based on typical finance rates (~8% APR).
How much you can comfortably pay each month
£200–£350/month is a sensible range for most UK buyers. This is what many people on a typical salary comfortably spend on a car.
Most UK car buyers use PCP or HP finance — affordability is based on monthly payments, not total price.
Outside London, this budget typically goes further. In London and higher-cost areas, affordability is usually 15–25% lower than these figures suggest.
Why this calculator is different
Most calculators show the maximum you can borrow. This tool focuses on what you can comfortably afford — based on real UK salaries, actual expenses, and everyday spending patterns.
Want a personalised breakdown?
We'll send a simple summary based on your inputs. No spam.
Based on typical UK tax bands and lending criteria. This is an estimate, not financial advice.
What lenders will see
Standard maximum mortgage: Most UK lenders offer between 4× and 4.5× your salary — £120k to £135k on your income.
The gap: The average London home costs £525k. This is 17.5× your salary, which exceeds standard criteria. A larger deposit bridges part of the gap.
Deposit guidance: A deposit of 30–40% is typically required at this level of price-to-income stretch.
Local context: London
On £30,000, standard 4.5× lending supports a mortgage of just £135,000. Even the most affordable London boroughs — Barking and Dagenham, Havering, Bexley — typically start at £250,000–£300,000 for a flat, meaning you would need a deposit of £115,000–£165,000 just to buy at the bottom of the market. Shared ownership (purchasing a 25–75% share through a housing association) is the route most buyers on £30k pursue in London. It reduces the mortgage needed but comes with rental payments on the unowned share, so total monthly costs still need careful budgeting.
Ready to take the next step?
Use your affordability numbers to compare real mortgage deals or get personalised advice from a fee-free broker.
No sign-up required. Free to use. Not financial advice.
Compare other UK cities
See how affordability differs across the UK based on salary and average house prices.
Related affordability questions
Explore more UK affordability scenarios tailored to different salaries and locations.