Many students will have recently started out on their university studies whilst others will be busy preparing their applications for next year. You may therefore be wondering which town or city in the UK is the most affordable for students to live in.
Fortunately, fee-free mortgage broker L&C Mortgages calculated the cheapest places for students to earn a degree, determined by the average student expenditure in each area.
The research examined the monthly average cost of rent (both inside and outside the city centre) alongside other student expenses, such as gas and electricity, groceries, and transport costs. These expenses were combined to identify the student towns and cities that would incur the lowest costs for the average student to live and study in.
Middlesbrough was identified as the most affordable place for students to live, with an average monthly expenditure of £758.58. Located in the Northeast, it had a monthly average rent cost of £286.81 for students, based on the average price of a one-bedroom residence.
In second place was Sunderland, which had a monthly expenditure of £775.77. for students. The city in Tyne and Wear had a monthly average rent expense of £304.63 for students.
Hull followed in third, with a monthly expenditure of £782.82. The East Yorkshire city had an average student rent price of £271.92.
In fourth position was Carmarthen, which had an average monthly expenditure of £786.69 making it one of the cheapest areas for students to live in. Situated in Wales, the town had an average rent price of £267.63.
Rounding out the top five was Pontypridd, with a monthly student expenditure of £800.69. The Welsh town had an average rent of £282.05.
Other towns and cities within the top 10 most affordable places for students were Bangor (£802.27), Bradford (£805.54), Wrexham (£808.71), Huddersfield (£809.94) and Preston (£848.24).
At the other end of the spectrum, London was identified as the most expensive city for students, with a monthly student expenditure of £1,542.44 and an average rent price of £1,006.75.
Brighton was deemed the second most expensive place, with the seaside resort recording a monthly student expenditure of £1,410.33 and an average student rent price of £764.
The third most expensive student area was revealed to be Oxford. The historic student city had a monthly student expenditure of £1,291.13, and reported an average rent price £775.81.
Bristol followed as the fourth most expensive area for students, with a monthly student expenditure of £1,286.31. Located in the South West, the average cost of rent for students in the city was calculated to be £733.81.
Rounding out the top five most expensive towns and cities for students was Guildford, with the Surrey town averaging a monthly student expenditure of £1,271.15 and an average rent price of £705.90.
Other towns and cities within the top 10 most expensive places for students to live include Buckingham (£1,257.03), High Wycombe (£1,250.22), Cambridge (£1,246.50), Reading (£1,227.43) and Edinburgh (£1,217.68).
