North London
Hampstead / Finchley Road
If you’re thinking about moving to London for uni, you’re in for a treat. Whether you’re a newcomer going into your first year or returning for a post-grad or PhD, there’s nothing quite like living and studying in London.
The city is packed with history, endless culture and activities and, of course, some of the best universities in the world. But let’s face it, one of the things you might be worried about is the cost of living in London. Alongside being an incredible city to live in, it’s also one of the most expensive — last year, it ranked 12th most expensive city in the world.
But don’t panic. According to the London School of Economics, there are nearly half a million students in London. If they can do it, so can you.
One of the reasons it’s an expensive city is accommodation costs. That's why we've put together this handy guide to help you understand student accommodation costs in London in 2024 and find something to suit your budget. We’ll break down everything from average accommodation costs and the different types of student accommodation in London to tips for finding affordable places to live.
Before diving into the specifics of student accommodation costs, it’s good to have a rough idea of London accommodation costs. According to Zoopla, a UK-based property company that publishes property data and insights, the average rental costs in London in 2024 is £2,121 per month.
While this figure might seem overwhelming at first glance, it’s important to note that this is an average for all areas of London. Many areas of London are significantly cheaper to live in. For example, areas like Bexley and Croydon are significantly cheaper, while areas like the City of London and Camden are at the top end of London accommodation prices.
It’s also important to remember that student accommodation is a different kettle of fish and often comes with perks and facilities that make the expense way more manageable. Let's take a look at the types of student accommodation options in London and their associated costs.
One of the best things about being a student in London is the sheer amount of options you have for pretty much everything. From different cuisines and endless activities to hangout and study spots, you’re spoilt for choice, and luckily, there are plenty of options when it comes to student accommodation, too.
Most universities in London offer halls of residence, especially for first-year students. These usually range from basic shared rooms to en-suite single rooms with shared kitchen facilities.
These halls offer a sense of community and convenience, they’re usually close to campus (although not always) and often including amenities such as communal areas and laundry rooms. The average cost can vary, but generally, you can expect to pay between £200 to £450 per week (bills included), depending on the university, location and facilities provided.
Let’s use University College London as an example. They offer a wide range of halls for students at different levels, and the cost is based on how close the halls are to campus, room type and the condition of the halls. Here’s a quick overview of the halls costs for UCL:
| Room type | Band A (highest condition) — 10 minutes from campus | Band C (lowest condition) — 30-40 minutes from campus* |
| Single room with single bed | £268.59 | N/A |
| Single room with en-suite | £344.82 | £287.35 |
| Studio with single bed | £414.47 | N/A |
*pricing from UCL’s accommodation website.
As you can see, the cost of halls varies quite a lot depending on how close you are to campus, the quality of the accommodation and the type of room you choose. Most first-year students live in university halls of residence and move into alternative accommodation from their second year.
Private student accommodation are purpose-built student accommodations that are managed by private companies rather than universities. They often provide a lot of the same amenities as university halls but with more modern facilities, including private gardens, free laundry facilities and social spaces.
Private student accommodation is often seen as a more expensive option to halls but the difference in cost is less than you might think with costs between £300-600 per week (bills included). There are also some key differences between halls and private student accommodation including furnishing, private kitchens, room size and bed size.
Let’s go back to our UCL example. Here are the costs of private student accommodation in Bloomsbury and Euston, which are a stone's throw from the UCL campus:
| Room Type | Bloomsbury | Euston |
| Standard studio* | £425 | £420 |
| Medium studio | £495 | £480 |
| Large studio | £560 | £525 |
*studio flat = self-contained furnished space with en-suite, kitchenette and double bed.
While the costs are slightly higher than halls, the quality of accommodation is usually significantly higher, and you’ll usually get a larger, more private space. The price also includes bills, which you don’t usually get with private rentals and shared properties.
Private rentals and renting a room in a shared property are popular options among students, particularly second and third-year students and postgraduates. It’s often seen as the most cost-effective way of living in London as a student after living in a university halls for the first year of studying.
Like university halls and private student accommodation, location and the property condition make a massive difference to the cost. If you’re looking to live alone in London, you’ll need to look for studios and one-bedroom flats. The cost for these usually ranges from £250 to £500 per week, in some areas the cost will be £500+ per week.
Shared houses can be a more affordable option, with average expenses per room being around £150 to £300 per week. According to recent data from Spare Room, the average cost of a room in a shared property has risen to £750 per month. However, it’s important to note that this is an average for the whole of London, so areas outside of central London bring the average down significantly.
If we go back to our UCL example, here’s an idea of the cost of renting a studio flat or a room in a shared property:
| Accommodation type | Bloomsbury (close to campus) | Central London (varying distances from campus) |
| Private studio flat* | £350-625 pw + bills | £225-750 pw + bills |
| Room in shared property* | £320-550 pw + bills | £250-£600 pw + bills |
* prices based on current listings available on Rightmove.
**prices based on current listings available on Room Share.
If you’re considering a private rental or flat share, it’s important to think about the impact of utility bills. The average cost of utility bills can be up to £240 a month and it’s worth bearing in mind that the further from campus you are, the more you’ll pay for transport.
When it comes to student accommodation in London, several elements play a role in how much you'll end up paying. We’ve already shown how accommodation type affects costs and mentioned a couple of other factors, but here’s a closer look at what influences these costs:
Living closer to central London, such as in Bloomsbury or Euston, often means higher rental costs but less spending on transportation as you’re closer to campus, university facilities, nightlife, and activities. On the other hand, living further out can be more affordable but requires more planning for commutes and higher transport expenses.
Check out our guide on renting student accommodation in central London or further out.
Different types of accommodations offer varying levels of amenities. University halls often include communal areas, study rooms, and sometimes gyms. Private student accommodation usually offers more modern facilities, private gardens, en-suite rooms, and communal spaces. These facilities can add to the overall cost of your accommodation, so be sure to factor in what amenities are essential for you and what you can live without.
One of the big things that affects accommodation costs is how long you’ll be living there. University halls usually cater to academic-year contracts, while private rentals usually offer full-year leases. Private student accommodation providers tend to provide a more flexible approach, with some even offering short-term lets. The length of the contract doesn’t have too much of an impact on weekly or monthly costs but can mean you’re paying for accommodation over the summer months when you may not be living there.
This seems like a lot to consider, but finding affordable student accommodation in London is quite straightforward. With a bit of planning and know-how, you’ll be able to find your spot pretty easily. Here are a few essential tips to help you find somewhere to live that suits your budget and lifestyle:
Choose accommodation near your campus to save on transport costs and time. Living close means you can walk or bike to class, reducing the need for expensive travel cards and giving you more flexibility in your daily schedule.
Choose accommodation that includes utilities like water, electricity, and internet in the rent. This makes budgeting easier as you’ll have a fixed monthly cost without the surprise of fluctuating utility bills, helping you manage your finances more effectively.
Some private accommodation providers offer discounts if you pay your rent upfront for the entire term or year. This can reduce your overall cost and give you peace of mind knowing your accommodation is secured without monthly payment hassles.
Save on the cost of buying furniture and kitchen equipment by choosing fully-furnished accommodation. These places come equipped with all the essentials, allowing you to move in with just your personal belongings and settle in quickly without the additional expense of furnishing your new home.
Start looking for accommodation as soon as possible to get the best deals and widest selection. Searching early gives you a better chance of finding a place that meets your needs and budget before the rush of other students starts.
While the cost of student accommodation in London can be high, there are plenty of options to suit different budgets and preferences. By starting your search early, considering different areas, and following the tips in this guide, you’ll definitely find a place that works for you.
And we’re here to help you find your spot in London.
At Student.Studios2Let, we have affordable private student accommodation available in seven of the best areas of London and close to loads of London’s fantastic universities, including:
Our private student studio flats come with everything you need to settle straight in:
Ready to find your perfect place? Check out your student accommodation options and get started on securing your ideal student accommodation today. If you have any questions, get in touch with our lovely team.
