Cost Of Living in Edinburgh 2024

cost of living chart - average monthly expenditure in Edinburgh

Average monthly spending for singles, couples, students, and families in Edinburgh

Whether you're living in Edinburgh or planning to move there, it is very important to know the cost of living and the prices of things. Here we list the average spending for the four main population groups.

Average Monthly Expenditure

Currency: GBP
260 3,300 33,000
MINIMUM AVERAGE MAXIMUM
$330 $4,200 $42,000

Monthly Expenditure ▶ Single

Currency: GBP
330 2,300 15,000
MINIMUM AVERAGE MAXIMUM
$420 $2,900 $20,000

Monthly Expenditure ▶ Couple

Currency: GBP
1,300 3,900 21,000
MINIMUM AVERAGE MAXIMUM
$1,600 $4,900 $26,000

Monthly Expenditure ▶ Family

Currency: GBP
1,800 5,100 33,000
MINIMUM AVERAGE MAXIMUM
$2,300 $6,500 $42,000

Monthly Expenditure ▶ Student

Currency: GBP
260 1,700 11,000
MINIMUM AVERAGE MAXIMUM
$330 $2,100 $14,000
The figures displayed here are inclusive of everything: housing, travel, groceries, healthcare, etc.

Singles

The average monthly expense for a single person living in Edinburgh is 2,300 GBP. Expenses can range from 330 GBP at the minimum level to 15,000 GBP at the highest end.


Couples

The average monthly spending of couples in Edinburgh is 3,900 GBP. Expenditure can range from 1,300 GBP to 21,000 GBP per month.


Families

The average cost of living for families in Edinburgh is 5,100 GBP per month. Families spend anywhere from 1,800 GBP to 33,000 GBP.


Students

The average monthly expenditure for students in Edinburgh is 1,700 GBP. Students spend from 260 GBP to 11,000 GBP per month.


Spending behavior can change drastically from one person to another. It is best to consider the minimum, average, and maximum spending together.



Prices and cost of goods and services in Edinburgh


Chart showing the prices and cost of grocery, food, restaurant meals, market, and beverages in Edinburgh

Dining, food, and beverages costs


Fast food combo meal

3.2 GBP 6.4 GBP 11 GBP
MINIMUM AVERAGE MAXIMUM
$4.1 $8.2 $14

Restaurant meal for one

11 GBP 17 GBP 34 GBP
MINIMUM AVERAGE MAXIMUM
$14 $22 $43

Fine dining meal for one

23 GBP 34 GBP 140 GBP
MINIMUM AVERAGE MAXIMUM
$29 $43 $170

Cappuccino or latte

2.7 GBP 4.3 GBP 6.4 GBP
MINIMUM AVERAGE MAXIMUM
$3.4 $5.4 $8.2

Grocery and market costs


Milk large bottle

2.1 GBP 2.6 GBP 3.2 GBP
MINIMUM AVERAGE MAXIMUM
$2.7 $3.3 $4.1

12 eggs

1.6 GBP 2.1 GBP 3.2 GBP
MINIMUM AVERAGE MAXIMUM
$2 $2.7 $4.1

Fresh whole chicken

3.7 GBP 4.7 GBP 6.7 GBP
MINIMUM AVERAGE MAXIMUM
$4.6 $6 $8.5

Pack of beef

4.3 GBP 6.4 GBP 13 GBP
MINIMUM AVERAGE MAXIMUM
$5.4 $8.2 $16

Medium bag of rice

1.7 GBP 2.4 GBP 3.4 GBP
MINIMUM AVERAGE MAXIMUM
$2.2 $3 $4.3

Bag of tomatos

0.65 GBP 0.86 GBP 1.6 GBP
MINIMUM AVERAGE MAXIMUM
$0.82 $1.1 $2

Bag of apples

1.2 GBP 1.5 GBP 2.5 GBP
MINIMUM AVERAGE MAXIMUM
$1.5 $1.9 $3.1
Chart showing the prices and cost of commute, travel, and transportation in Edinburgh

Commute, travel, and transportation costs


20 minutes taxi ride

2.8 GBP 3.4 GBP 6.8 GBP
MINIMUM AVERAGE MAXIMUM
$3.6 $4.3 $8.6

Average car full tank

16 GBP 21 GBP 43 GBP
MINIMUM AVERAGE MAXIMUM
$20 $27 $54

Average car 1-day rental

18 GBP 24 GBP 36 GBP
MINIMUM AVERAGE MAXIMUM
$23 $30 $46

Average car price

8,100 GBP 16,000 GBP 21,000 GBP
MINIMUM AVERAGE MAXIMUM
$10,000 $20,000 $27,000

Bus ticket one way

0.60 GBP 0.90 GBP 1.8 GBP
MINIMUM AVERAGE MAXIMUM
$0.76 $1.1 $2.3

Car Service

24 GBP 36 GBP 72 GBP
MINIMUM AVERAGE MAXIMUM
$30 $46 $91
Chart showing the prices and cost of utility, energy, water, and gas for a family in Edinburgh

Utility cost (monthly)


Utility Bill - Individual

20 GBP 140 GBP 930 GBP
MINIMUM AVERAGE MAXIMUM
$25 $180 $1,200

Utility Bill - Couple

51 GBP 170 GBP 1,100 GBP
MINIMUM AVERAGE MAXIMUM
$65 $220 $1,400

Utility Bill - Family

90 GBP 260 GBP 1,700 GBP
MINIMUM AVERAGE MAXIMUM
$110 $330 $2,100

Internet and cable

16 GBP 32 GBP 43 GBP
MINIMUM AVERAGE MAXIMUM
$20 $41 $54

Mobile phone charges

13 GBP 21 GBP 64 GBP
MINIMUM AVERAGE MAXIMUM
$16 $27 $82

Leisure and activities costs


Movie ticket

8.1 GBP 11 GBP 16 GBP
MINIMUM AVERAGE MAXIMUM
$10 $14 $20

One month gym membership

29 GBP 36 GBP 72 GBP
MINIMUM AVERAGE MAXIMUM
$36 $46 $91
Chart showing the prices and cost of clothing and accessories in Edinburgh

Cloths and accessories costs


Pair of jeans or pants

21 GBP 30 GBP 45 GBP
MINIMUM AVERAGE MAXIMUM
$27 $38 $57

Woman dress

20 GBP 28 GBP 90 GBP
MINIMUM AVERAGE MAXIMUM
$25 $35 $110

Woman shoes

19 GBP 26 GBP 60 GBP
MINIMUM AVERAGE MAXIMUM
$24 $33 $76

Men's shoes

16 GBP 20 GBP 40 GBP
MINIMUM AVERAGE MAXIMUM
$21 $25 $51

Men suit

18 GBP 22 GBP 120 GBP
MINIMUM AVERAGE MAXIMUM
$23 $28 $150

Regular t-shirt

9 GBP 12 GBP 36 GBP
MINIMUM AVERAGE MAXIMUM
$11 $15 $46
Chart showing the prices and cost of housing, accommodation, and rent in Edinburgh

Housing costs / monthly rent


Studio apartment

300 GBP 450 GBP 1,200 GBP
MINIMUM AVERAGE MAXIMUM
$380 $570 $1,500

1-bedroom apartment

450 GBP 720 GBP 1,800 GBP
MINIMUM AVERAGE MAXIMUM
$570 $910 $2,300

2-bedroom apartment

600 GBP 900 GBP 2,400 GBP
MINIMUM AVERAGE MAXIMUM
$760 $1,100 $3,000

Housing costs / Buying


Studio apartment

60,000 GBP 90,000 GBP 180,000 GBP
MINIMUM AVERAGE MAXIMUM
$76,000 $110,000 $230,000

1-bedroom apartment

72,000 GBP 120,000 GBP 450,000 GBP
MINIMUM AVERAGE MAXIMUM
$91,000 $150,000 $570,000

2-bedroom apartment

120,000 GBP 360,000 GBP 720,000 GBP
MINIMUM AVERAGE MAXIMUM
$150,000 $460,000 $910,000
Chart showing the prices and cost of furniture in Edinburgh

Furniture Costs


King Size Bed

320 GBP 400 GBP 540 GBP
MINIMUM AVERAGE MAXIMUM
$410 $510 $680

Double Bed

210 GBP 320 GBP 400 GBP
MINIMUM AVERAGE MAXIMUM
$270 $410 $510

Single Bed

190 GBP 250 GBP 320 GBP
MINIMUM AVERAGE MAXIMUM
$240 $310 $410

Living Room

360 GBP 460 GBP 1,600 GBP
MINIMUM AVERAGE MAXIMUM
$450 $580 $2,000

Dining Table

160 GBP 210 GBP 400 GBP
MINIMUM AVERAGE MAXIMUM
$200 $270 $510

Sofa or Couch

210 GBP 290 GBP 640 GBP
MINIMUM AVERAGE MAXIMUM
$270 $370 $820
Chart showing the prices and cost of electronic devices and appliances in Edinburgh

Electronics and House Appliance Costs


TV Set

210 GBP 320 GBP 640 GBP
MINIMUM AVERAGE MAXIMUM
$270 $410 $820

Fridge or Freezer

190 GBP 290 GBP 400 GBP
MINIMUM AVERAGE MAXIMUM
$240 $370 $510

Washing Machine

250 GBP 360 GBP 640 GBP
MINIMUM AVERAGE MAXIMUM
$310 $450 $820

Stove or Cooker

230 GBP 290 GBP 400 GBP
MINIMUM AVERAGE MAXIMUM
$290 $370 $510

Mobile Phone

270 GBP 320 GBP 460 GBP
MINIMUM AVERAGE MAXIMUM
$340 $410 $580

Laptop or Computer

290 GBP 360 GBP 640 GBP
MINIMUM AVERAGE MAXIMUM
$370 $450 $820

Expenditure to Income Ratio in Edinburgh

One of the most definite ways to determine how affordable a place is measuring the ratio of expenses to salary. A high expense-to-income to ratio indicates a high cost-of-living index while a low expenditure-to-salary ratio means the place is affordable to live in.

Cost of living and expenditure to income ratio in Edinburgh

Spending to Income Ratio

87%

78% to 98%

( expenditure / income ) x 100


Expense to income distribution levels

Spending To Income Ratio% People
< 50%5%
50% - 60%10%
60% - 70%17%
70% - 80%26%
80% - 90%17%
90% - 100%10%
100% - 110%5%
110% - 120%3%
120% - 130%2%
130% - 140%2%
> 140%1%

Interpretation and Analysis

The average spending-to-salary ratio in Edinburgh is 87% This means that on average, people spend around 87% of their income for living. According to the distribution table, 17% of the population spend approximately 60% to 70% of their income every month.


How can spending be more than income?

A value higher than 100% means that the expenditure of those people is higher than their income. They are spending more than what they earn. This is possible in two scenarios. They are either borrowing from their savings to survive or they are borrowing from other sources (relatives, friends, banks, etc.). More about this in the debt section.



Individual
79%
Spending-Income-Ratio
70%
88%

Couple
83%
Spending-Income-Ratio
74%
93%

Family
92%
Spending-Income-Ratio
82%
100%
Distribution of monthly cost of living expenses in Edinburgh

How do people spend their money in Edinburgh?

We asked thousands of people about their spending habits and expenditure breaks. Below are their answers.

The percentage figures in this section are percentages of total spending not income. If you would like to see the percentage of expenses as related to income or salary, see other sections.

Housing Expenditure25%

25% of total expenses on average (14% to 33%)

LOW$98   77 GBP
AVERAGE$1,300   1,000 GBP
HIGH$13,000   10,000 GBP
Per Month

People living in Edinburgh typically spend from 14% to 33% of their total monthly expenditure on housing with 25% being the average. The average spend on housing is 1,000 GBP with expenditure ranging from 77 GBP to 10,000 GBP. This cost mainly goes for rent but it also includes other accommodation-related expenses. Housing costs are highest for families and lowest for students as expected.

Utilities, Electricity, Water, Internet, Mobile7%

7% of total expenses on average (4% to 11%)

LOW$16   13 GBP
AVERAGE$210   170 GBP
HIGH$2,100   1,700 GBP
Per Month

Utility expenditure like electricity, water, and gas in Edinburgh ranges from 4% to 11% of total expenses with 7% being the average. The average monthly cost of utilities is 170 GBP with 13 GBP and 1,700 GBP being the upper and lower limits.

Transport, Fuel, Commute8%

8% of total expenses on average (4% to 12%)

LOW$33   26 GBP
AVERAGE$420   330 GBP
HIGH$4,200   3,300 GBP
Per Month

Fuel consumption and cost of transport depend heavily on whether you live near your work or school, but roughly speaking you would expect to spend from 26 GBP to 3,300 GBP on commuting with 330 GBP being the norm for most people in one month. This means that money spent on transport constitutes about 8% of total spending on average but can go as low as 4% or as high as 12%.

Food and Groceries Cost27%

27% of total expenses on average (19% to 33%)

LOW$81   64 GBP
AVERAGE$1,100   840 GBP
HIGH$11,000   8,400 GBP
Per Month

The average outlay on groceries in a month in Edinburgh is 840 GBP. The cost of groceries can range between 64 GBP to 8,400 GBP. People spend on average about 27% on food and groceries with upper and lower bounds of 19% and 33% respectively.

Healthcare and Medical Services9%

9% of total expenses on average (4% to 12%)

LOW$23   18 GBP
AVERAGE$300   230 GBP
HIGH$3,000   2,300 GBP
Per Month

People in Edinburgh allocate 4% to 12% of their total monthly expenditure to healthcare including health insurance and out-of-pocket medical expenses. The average spending is around 9%. The range of medical expenses range from 18 GBP to 2,300 GBP with 230 GBP being the norm.

Leisure and Shopping5%

5% of total expenses on average (3% to 9%)

LOW$13   10 GBP
AVERAGE$170   130 GBP
HIGH$1,700   1,300 GBP
Per Month

This category mostly contains discretionary or non-essential expenses but also some non-discretionary spending like furniture for example. The monthly expenses range from 10 GBP to 1,300 GBP with 130 GBP being the average. Speaking of percentages, that equates to 3% to 9% of total expenses with an average of 5% for most residents.

Education and Schooling6%

6% of total expenses on average (4% to 12%)

LOW$20   15 GBP
AVERAGE$250   200 GBP
HIGH$2,500   2,000 GBP
Per Month

Spending on education can vary drastically between different people. While working singles can spend 0% on education, families and students' expenditure can reach up to 22%. On average, education constitutes 6% of the monthly expenditure with 4% and 12% being the lower and upper bounds respectively. The average reported education cost is 200 GBP per month with 15 GBP being the minimum spent amount and 2,000 GBP being the maximum.

Other Expenses13%

13% of total expenses on average (8% to 20%)

LOW$42   33 GBP
AVERAGE$550   430 GBP
HIGH$5,500   4,300 GBP
Per Month
Percentage of people who manage to save money from their income every month in Edinburgh

How much money can you save in Edinburgh every month?

We asked thousands of people what percentage of their income can they save in a month. Below are the answers.


What percentage of people in Edinburgh manage to save money from their income every month?


Saving Money
67%
Not Saving
33%

Almost 67% of the surveyed people in Edinburgh said that they can save some money at the end of each month while 33% said that aren't saving anything.


Percentage of people saving money by population group in Edinburgh

GroupSaversNon Savers
Singles76%24%
Couples71%29%
Families65%35%

Savings-to-Income Ratio

The savings-to-income ratio is measured as the percentage of income that people save over a specific period and it is simply calculated by dividing the saved money by total income and then multiplying the result by 100. (Savings / Income) x 100.


Savings to income ratio in Edinburgh

Saving to Income Ratio

13% 22% of income 34%
MINIMUM AVERAGE MAXIMUM

Average Monthly Saved Amount

100 GBP
$130
1,300 GBP
$1,700
13,000 GBP
$17,000
MINIMUM AVERAGE MAXIMUM

For most people, 13% to 34% of their monthly income is what they can allocate to their savings, with 22% being the average. The amount of money that people can save is approximately 1,300 GBP on average with savings ranging from 100 GBP to 13,000 GBP.

76% of surveyed singles reported some of their income going to savings while 71% of couples said the same. 65% of families confirmed their ability to save money.


How much money do people actually save in Edinburgh?

The amount of money that people can afford to save depends hugely on their income. It is better to focus on the percentage when trying to understand saving patterns.


Singles

Saving to Income Ratio

16% 27% of income 36%
MINIMUM AVERAGE MAXIMUM

Average Monthly Saved Amount

100 GBP
$130
920 GBP
$1,200
6,100 GBP
$7,800
MINIMUM AVERAGE MAXIMUM

Savings to income distribution levels for singles

Saving To Income Ratio% Singles
0% - 10%30%
10% - 20%24%
20% - 30%16%
30% - 40%15%
40% - 50%11%
> 50%4%

Interpretation and Analysis

Singles who can afford to save reported that they allocate from 16% to 36% of their monthly income to savings, with 27% being the average for most singles. The average amount of money that singles are able to save is 920 GBP with 100 GBP and 6,100 GBP being the minimum and maximum respectively.


Couples

Saving to Income Ratio

14% 25% of income 35%
MINIMUM AVERAGE MAXIMUM

Average Monthly Saved Amount

510 GBP
$650
1,500 GBP
$1,900
8,200 GBP
$10,000
MINIMUM AVERAGE MAXIMUM

Savings to income distribution levels for couples

Saving To Income Ratio% Couples
0% - 10%34%
10% - 20%26%
20% - 30%19%
30% - 40%10%
40% - 50%8%
> 50%3%

Interpretation and Analysis

Couples who confirmed their ability to save reported saving equivalent to 14% to 35% of their monthly income, with 25% being the average for most couples. The average amount of money that couples can save is 1,500 GBP with 510 GBP and 8,200 GBP being the minimum and maximum respectively.


Families

Saving to Income Ratio

12% 20% of income 32%
MINIMUM AVERAGE MAXIMUM

Average Monthly Saved Amount

720 GBP
$910
2,000 GBP
$2,600
13,000 GBP
$17,000
MINIMUM AVERAGE MAXIMUM

Savings to income distribution levels for families

Saving To Income Ratio% Families
0% - 10%37%
10% - 20%29%
20% - 30%20%
30% - 40%7%
40% - 50%5%
> 50%2%

Interpretation and Analysis

Families in Edinburgh can save anywhere between 12% to 32% of their monthly income, with 20% being the average for most families. The average amount of money that families can put aside is 2,000 GBP with 720 GBP and 13,000 GBP being the minimum and maximum respectively.

Reasons that make it difficult for people to save money in Edinburgh

Saving Challenges in Edinburgh

Reasons that make it difficult for people to save money

We wanted to understand what is stopping people from maximizing their savings in Edinburgh. Listed below are the answers given by the survey participants.


Reason% People
Low Income6%
High Expenses9%
Debt and Loans16%
Lack of Budgeting Skills11%
Impulsive Spending10%
Financial Emergencies6%
Living the moment6%
Will do it later18%
Inflation12%
Social Pressure3%
Market Instability3%

Around 6% of the people said that their salary is too low to accommodate a portion for savings while 9% said that the high cost of living leaves little room for savings. 16% of the residents said that they are burdened with debt and find it challenging to save money. 11% reported that they just don't have the knowledge or discipline to create and stick to a budget, leading to overspending and an inability to save. 10% blamed impulsive spending as the reason for saving inability. Around 6% said that unexpected expenses like medical bills or car repairs are derailing their savings goals. 6% bluntly said that they don't see the purpose of it and prefer to live each day to the fullest. 18% reported that they understand the value of saving but are putting off saving for the future, thinking they have plenty of time to start later. 12% blamed inflation, saying that every time they save some money they end up using it immediately. A surprising 3% said that social pressure and keeping up with peers or social expectations makes them overspend. Lastly, 3% blamed market instability and price fluctuations.

Where do people choose to put their savings in Edinburgh

Typical saving choices for people in Edinburgh

Where do people choose to put their savings?


Saving Type% People
Emergency Funds11%
Gold11%
Savings Accounts17%
Retirement Accounts11%
Cash Savings18%
Real Estate10%
Investment6%
Stocks5%
Bonds6%
Mutual Funds3%
Certificates of Deposit3%
A typical and healthy budgeting structure. The 50-30-20 rule

A typical and healthy budgeting structure

The 50/30/20 rule

Spending among different people can vary significantly based on factors such as their income, lifestyle, location, and personal preferences. A commonly used guideline for budgeting is the 50/30/20 rule, which suggests allocating your income into three main categories in the following percentages.

  • 50% for needs and financial obligations

    This category includes essential expenses like housing, utilities, groceries, transportation, and healthcare.

  • 30% for wants and discretionary spending

    This category covers discretionary spending on non-essential items, such as dining out, entertainment, travel, and other lifestyle choices.

  • 20% for savings and emergency fund

    This is the percentage that must be allocated to savings, emergency funds, and retirement accounts.

About financial planning, money management, and household budgeting

The 50/30/20 rule is used as a general guideline but may not be the best choice for all people. There are in fact many budgeting plans out there like the 70/20/10 and the 60/20/20 rules, all claiming to be the best. More important than all of this is to establish financial discipline by creating a budget tailored to your specific financial goals and situation. It is very important that your financial outflow be less than your income to maintain a healthy cash flow.

Income and cost of living compatibility. Is it affordable or economical to live in Edinburgh

Affordable living in Edinburgh

Income and cost of living compatibility

We asked residents one simple question and recorded their answers.

Is it affordable or economical to live in Edinburgh?


Yes
78%
No
22%

Around 78% of surveyed residents think that living in Edinburgh is affordable with proper budgeting while 22% reported that it is just too expensive and not affordable even with frugality and thriftness.

How easily is cost-cutting. Are there plenty of low-cost options in Edinburgh

Low-cost alternatives in Edinburgh

People are always looking for ways to cut down expenses and reduce expenditures. The hallmark of any affordable place is the availability of discount stores, bargain deals, smart or secondhand shopping, refurbished items, and couponing. We asked residents how easily cost-cutting is and the answers were distributed as follows:

Plenty of low-cost options63%

Few low-cost options37%


Based on the survey, 63% of the people living in Edinburgh have no problem finding low-cost alternatives to support a frugal lifestyle while 37% think that thriftness is difficult due to scarcity in discount markets and secondhand outlets.

Emergency Funds

An emergency fund is a financial safety net comprised of easily accessible savings set aside to cover unexpected expenses or financial emergencies, typically amounting to three to six months' worth of living expenses. We asked residents of Edinburgh whether they have an emergency fund and the answers were as follows.

Yes74%

No27%


Based on the survey, 27% of the people living in Edinburgh said that they don't have an emergency fund while 74% said that they do.

Financial literacy and difficulty in budgeting and financial planning in Edinburgh

Financial Literacy in United Kingdom

Financial literacy is the knowledge of concepts and principles related to personal finance that allow individuals to make informed decisions regarding their money such as budgeting, saving, investing, borrowing, managing debt, financial risk management, and planning.

Financial Leteracy68%


We asked residents of United Kingdom whether they acquired any adequate personal financial training in their lives. Approximately 32% of the people who participated in the survey said that they are not well informed about the topics of budgeting, saving, etc., and just manage things based on their own experience, while 68% said that they know about the general principles of personal finance from sources other than their own experience.


Difficulty in Budgeting and Financial Planning

We wanted to understand whether residents of United Kingdom have problems or difficulties in managing their expenditures and savings so we asked people one simple question: do you struggle with your personal finances? 34% of the participants reported that they indeed struggle in creating budgets and in organizing their finances while 66% said that they have everything under control.

Struggles with finance34%

Easily manages finances66%

Financial goals and targets of people living in Edinburgh

Financial goals of people in Edinburgh

In an attempt to understand the economic situation in Edinburgh, we asked participants about their financial targets. By knowing what the population in general is trying to achieve, we can shed light on the economic outlook, cost of living, and quality of life in general.


Financial Goal% People
Emergency Fund7%
Debt Reduction37%
Retirement Savings9%
Education Funding8%
Homeownership17%
Investing8%
Travel or Lifestyle9%
Healthcare Expenses11%
Financial Independence7%

Around 7% of those who participated in the survey said that their main goal is to establish an emergency fund to cover unexpected expenses while 37% said their number one priority is to pay off high-interest debt or loans and improve credit. 9% of surveyed people confirmed that saving for retirement to ensure a comfortable lifestyle in the final years is their main target. Around 8% reported that their priority is saving for the tuition fees and education costs of their children while 17% choose to buy a home or pay off existing mortgage before other things. 8% of the population would like to build wealth through investments such as stocks, bonds, mutual funds, or real estate. For 9% of people, saving for vacations or upgrading their lifestyle is the number one concern. Approximately 11% of the residents said that saving for healthcare expenses including insurance premiums is their main goal.

Retirement, pension plans, and life after work in Edinburgh

What does the retirement lifestyle look like in Edinburgh and how much retirement savings are required?

Retirement age

The retirement age for most employees in United Kingdom is 65 years. Specific retirement ages can vary based on factors like occupation, gender, years of contribution, and location. It is not entirely unlikely for people to retire either before or after this age.

Retirement planning and savings

There are many retirement saving options, some are personally initiated and others are government-sponsered. Regardless of the source of savings, the minimum amount of money that needs to be put aside to ensure a peaceful and comfortable retirement at each age can be found in the table below. This data is largely approximated and can vary drastically based on individual needs and situations. Treat these figures as a general guideline.


The typical saved amount of money you should have at every age as multiples of monthly salary:
AgeAmount
255x monthly salary at age 25
3010x monthly salary at age 30
3515x monthly salary at age 35
4025x monthly salary at age 40
4532x monthly salary at age 45
5048x monthly salary at age 50
5556x monthly salary at age 55
6064x monthly salary at age 60
6578x monthly salary at age 65

The typical average saved amount of money you should have at every age in Edinburgh:
AgeAmount
259,300 GBP
3019,000 GBP
3533,000 GBP
4047,000 GBP
4570,000 GBP
5098,000 GBP
55120,000 GBP
60140,000 GBP
65170,000 GBP

Retirement Income Distribution

We asked residents of Edinburgh about their retirement income sources and below are the results.

Source% People
Pensions13%
Savings22%
Investments13%
Social Security8%
Annuities8%
Part-time Job12%
Real Estate17%
Dividends and Interest8%

Retirement Monthly Expenses in Edinburgh

190 GBP
$230
1,700 GBP
$2,100
11,000 GBP
$14,000
MINIMUM AVERAGE MAXIMUM
Chart showing the percentage of people who are in debt in Edinburgh

Debt, loans, and mortgages in Edinburgh


Percentage of people who are in debt


In Debt
32%
Debt Free
68%

According to the survey, 32% of the people in Edinburgh have some kind of debt, loan, mortgage, or credit card payments while 68% reported that they don't have financial obligations to banks.


Chart showing debt-to-income ratio in Edinburgh

Debt-to-income ratio in Edinburgh

Debt to income ratio

29%

19% to 39%

( monthly debt payment / monthly income ) x 100

Interpretation

The debt-to-income ratio measures the percentage of income being paid as debt settlement across the population. It is calculated by dividing the monthly debt settlement payment of an individual by their monthly income. Based on collected data, approximately 29% of the people's monthly income in Edinburgh goes to debt settlement.


Debt levels

Monthly debt settlement payment as percentage of monthly income

Debt-to-income ratio% People
> 60%3%
50% - 60%14%
40% - 50%13%
30% - 40%15%
20% - 30%13%
10% - 20%16%
0% - 10%27%

According to our data, 3% of the debtors in Edinburgh pay 60%+ of their income as debt settlement while 14% of the people pay 50% to 60% of their income for the same, which is quite an alarming financial situation for those individuals. 13% of people in debt dedicate 40% to 50% of their income to loan and mortgage payments while 15% dedicated 30% to 40% of income for same. Things are looking brighter for 13% of individuals as they only pay 20% to 30% of their income for loan and credit card repayment.


Distribution by type of debt in Edinburgh

Debt% People
Real Estate Mortgage11%
Auto Loan20%
Student Loan3%
Credit Card27%
Personal Loan39%

11% of debtors in Edinburgh confirm that real estate mortgages constitutes the main part of their outstanding debt while 27% say that credit card payments are the reason they are in debt. Auto loans were the main type of debt for 20% of people and personal loans rose at 39%. Lastly, student loans are the main source of debt for 3% of debtors in Edinburgh.


About credit score and debt management

Managing debt is a critical aspect of maintaining a favorable credit score. Debt reduction is the first thing you should do improve your financial situation. Getting rid of debt takes precedence over saving money because of interest rates.

Good debt vs. Bad debt

Not all debt is bad. Good debt typically refers to borrowing money for investments that can increase in value or generate income over time like purchasing a home or acquiring student loans. On the other hand, bad debt involves borrowing for things that fail to generate lasting value like high-interest credit card debt used for non-essential expenses like luxury items or vacations.


Loan Affordability Index in Edinburgh

Besides measuring the loan-to-income ratio, we asked residents of Edinburgh how many times in a year they defaulted or were unable to pay their due credit card or loan payments on time. Understanding how often people default on their due payments is one of the indicators of the cost of living and economic situation.

Frequency and percentage of people who failed to pay their monthly credit card or loan payments on time last year.

Frequency% People
Never53%
Once a year23%
Twice a year12%
Three times a year8%
Four times a year4%
Housing and accommodation affordability, property price to income ratio, rent to income ratio, and housing affordability index chart in Edinburgh

Housing costs, accommodation, and housing affordability in Edinburgh

Rental costs and house/apartment prices can vary drastically between different areas and locations.


Rent Cost in Edinburgh

Monthly Rent Prices

Studio apartment monthly rent cost

300 GBP 450 GBP 1,200 GBP
MINIMUM AVERAGE MAXIMUM
$380 $570 $1,500

1-bedroom apartment monthly rent cost

450 GBP 720 GBP 1,800 GBP
MINIMUM AVERAGE MAXIMUM
$570 $910 $2,300

2-bedroom apartment monthly rent cost

600 GBP 900 GBP 2,400 GBP
MINIMUM AVERAGE MAXIMUM
$760 $1,100 $3,000

3-bedroom apartment monthly rent cost

720 GBP 1,200 GBP 3,300 GBP
MINIMUM AVERAGE MAXIMUM
$910 $1,500 $4,100

Furnished apartment monthly rent cost

1,400 GBP 3,600 GBP 7,200 GBP
MINIMUM AVERAGE MAXIMUM
$1,800 $4,600 $9,100

Townhouse monthly rent cost

1,200 GBP 1,800 GBP 5,100 GBP
MINIMUM AVERAGE MAXIMUM
$1,500 $2,300 $6,500

House monthly rent cost

1,400 GBP 3,600 GBP 7,200 GBP
MINIMUM AVERAGE MAXIMUM
$1,800 $4,600 $9,100

Villa monthly rent cost

1,800 GBP 4,500 GBP 7,200 GBP
MINIMUM AVERAGE MAXIMUM
$2,300 $5,700 $9,100

The monthly rental cost of a studio apartment in Edinburgh ranges between 300 GBP and 1,200 GBP, meanwhile the cost of monthly rental of a one-bedroom apartment can be anywhere from 450 GBP to 1,800 GBP. Two-bedroom rentals rate ranges between 600 GBP and 2,400 GBP per month. The monthly rental for a three-bedroom apartment ranges from 720 GBP to 3,300 GBP. The average rent of a townhouse in Edinburgh is around 1,800 GBP while house rental costs can be as high as 3,600 GBP per month. Finally, if you want to rent a villa, expect to pay anywhere from 1,800 GBP to 7,200 GBP per month.



Apartment and house prices in Edinburgh

Cost of buying a property

Studio apartment price

60,000 GBP 90,000 GBP 180,000 GBP
MINIMUM AVERAGE MAXIMUM
$76,000 $110,000 $230,000

1-bedroom apartment price

72,000 GBP 120,000 GBP 450,000 GBP
MINIMUM AVERAGE MAXIMUM
$91,000 $150,000 $570,000

2-bedroom apartment price

120,000 GBP 360,000 GBP 720,000 GBP
MINIMUM AVERAGE MAXIMUM
$150,000 $460,000 $910,000

3-bedroom apartment price

400,000 GBP 600,000 GBP 1.8M GBP
MINIMUM AVERAGE MAXIMUM
$510,000 $760,000 $2.3M

Townhouse price

510,000 GBP 1.2M GBP 4.5M GBP
MINIMUM AVERAGE MAXIMUM
$650,000 $1.5M $5.7M

House price

600,000 GBP 3.6M GBP 5.1M GBP
MINIMUM AVERAGE MAXIMUM
$760,000 $4.6M $6.5M

Villa price

720,000 GBP 4M GBP 6M GBP
MINIMUM AVERAGE MAXIMUM
$910,000 $5.1M $7.6M

The average price of a studio apartment in Edinburgh can range from 60,000 GBP to 180,000 GBP depending on location. One bedroom cost can be anywhere from 72,000 GBP to 450,000 GBP. A villa can cost you 4M GBP on average with prices ranging from 720,000 GBP to 6M GBP.


If you're leasing or purchasing, housing costs in Edinburgh will probably constitute your biggest expenditure, yet it's an area where you wield considerable influence. This is due to the substantial variance in housing prices across communities. Keep in mind the location of your workplace and the accessibility of essential amenities to prevent negating the savings from lower rental rates with increased transportation expenses.

House / apartment prices to income ratio


Property price to income ratio

( average property price / average monthly income ) x 100


46 x136 monthly income 231
MINIMUM AVERAGE MAXIMUM

Property prices in Edinburgh can be x136 to x231 multiples of the monthly income depending on the property and the income of the person. On average, property prices are approximately x136 multiples of the average monthly salary in Edinburgh.



Rent to income ratio


Rent to income ratio

( monthly rental / monthly income ) x 100


25% 35% of income 46%
MINIMUM AVERAGE MAXIMUM

The average rent-to-income ratio in Edinburgh is around 35%. This means that people pay 35% of their income for rent. Those figures can range from 25% to 46% depending on the salary, location, and type of property.


The housing-to-income ratio is a very important metric to evaluate and measure how affordable living is in a particular area, city, or country since housing comprises the biggest chunk of expenditure. A higher housing to income ratio means that the place is relatively expensive. The figure by itself does tell much. It only starts to make sense when comparing the housing to income ratio across different locations.

Housing affordability index

The housing affordability index measures how affordable accommodation is in a particular place. This can measured in multiple ways, the most common being housing expenditure to total expenditure ratio and the rent to income ratio. The housing expenditure ratio is a figure reported by individuals on the percentage they allocate for housing. Rent to income ratio is calculated by dividing the average monthly rent by the average income. Because these values are both percentages, we can find their average and get the best of the two worlds.

Housing Affordability Index
33%

Property Taxes

Real estate owners pay property taxes to local tax authorities, which are determined by the assessed value of their property. Typically, these taxes are paid once a year. Property tax funds contribute to community development, financing infrastructure improvements, public services, and local education initiatives.


FROM
2.2%
AVERAGE
3.2%
TO
4.1%

Home Maintenance Costs

Home maintenance costs encompass various expenses associated with the upkeep and repair of a residence. These expenditures include regular tasks such as lawn care, pest control, and HVAC system servicing, as well as occasional repairs and renovations like fixing leaks, painting, or replacing appliances.


5.1 GBP 67 GBP 670 GBP
MINIMUM AVERAGE MAXIMUM

Urban vs. rural living costs

Urban living typically entails higher housing and transportation costs due to demand and limited space, while rural areas generally offer lower housing expenses but may have higher prices for goods and services. The differnce in rental rates between urban areas and rural areas can be as high as 300% in some cases.

Monthly costs and expenses of energy and basic utilities in Edinburgh

Utilities expenditure can vary slightly between different areas and locations.


Energy, electricity, water, gas, internet, and mobile cost in Edinburgh

Utility Bill Cost / Electricity + Water + Gas / Individual

20 GBP 140 GBP 930 GBP
MINIMUM AVERAGE MAXIMUM
$25 $180 $1,200

Utility Bill Cost / Electricity + Water + Gas / Couple

51 GBP 170 GBP 1,100 GBP
MINIMUM AVERAGE MAXIMUM
$65 $220 $1,400

Utility Bill Cost / Electricity + Water + Gas / Family

90 GBP 260 GBP 1,700 GBP
MINIMUM AVERAGE MAXIMUM
$110 $330 $2,100

Internet and cable cost

16 GBP 32 GBP 43 GBP
MINIMUM AVERAGE MAXIMUM
$20 $41 $54

Mobile phone bill and charges

13 GBP 21 GBP 64 GBP
MINIMUM AVERAGE MAXIMUM
$16 $27 $82

Because most utility bills club electricity, water, and gas costs in one bill, we can't provide a breakup for each type of utility and will display electricity, gas, and water as single cost.


The average monthly expenditure for individuals on electricty, water, and gas in Edinburgh ranges between 20 GBP and 930 GBP with average being 140 GBP, meanwhile the expenditure of couples is slightly higher at 170 GBP with 51 GBP and 1,100 GBP being the upper and lower limits respectively. As expected, the energy and water consumption of families is the highest among the three groups with an average of 260 GBP. The cost of internet and WiFi is unchanged among the three groups and ranges from 16 GBP to 43 GBP with 32 GBP being the average internet bill. Finally, the average monthly mobile charges is around 21 GBP but can range between 13 GBP and 64 GBP depending on consumption. Mobile charges include both calling minutes as well as data packages.


Energy / Utility expense to income ratio


( monthly utility expenses / monthly income ) x 100


2.1% 5.3% of income 9.6%
MINIMUM AVERAGE MAXIMUM

The average utility-to-income ratio in Edinburgh is around 5.3%. This means that people pay 5.3% of their income for energy, water, internet, and mobile charges. Those figures can range from 2.1% to 9.6% depending on salary and location.

Food Prices, Dining Expenses, and Grocery Costs in Edinburgh

Grocery / Food expenditure and prices can vary drastically between different areas and locations.


Prices and cost of goods and services in Edinburgh

Dining out, food, and beverages costs. Price variations for common food items.

Fast food combo meal price

3.2 GBP 6.4 GBP 11 GBP
MINIMUM AVERAGE MAXIMUM
$4.1 $8.2 $14

The average price of a regular combo meal at a fast food outlet or chain like McDonald's, Pizzahut, or KFC in Edinburgh is approximatly 6.4 GBP with meal cost ranging from 3.2 GBP to 11 GBP. The typical combo meal consists of a burger, french fries, and a drink.

Restaurant meal for one price

11 GBP 17 GBP 34 GBP
MINIMUM AVERAGE MAXIMUM
$14 $22 $43

If you are planning to have a nice meal at a mid-range restaurant, expect to pay anywhere between 11 GBP and 34 GBP with 17 GBP being the average price of a plate for one person at a regular restaurant in Edinburgh.

Fine dining meal for one price

23 GBP 34 GBP 140 GBP
MINIMUM AVERAGE MAXIMUM
$29 $43 $170

The price range of a meal at fine-dining restaurant is 23 GBP to 140 GBP with the average cost being 34 GBP for one person. This is what you would expect to pay a top-tier diner in Edinburgh.

Beverage prices, cappuccino, latte etc..

2.7 GBP 4.3 GBP 6.4 GBP
MINIMUM AVERAGE MAXIMUM
$3.4 $5.4 $8.2

The average price of a regular beverage like cappuccino or latte at Starbucks, Costa, or similar coffee shops and cafes in Edinburgh is around 4.3 GBP. Price ranges between 2.7 GBP and 6.4 GBP depending on the type of beverage, the size, and optional add-ons.



Grocery and market costs

Large bottle of milk price

2.1 GBP 2.6 GBP 3.2 GBP
MINIMUM AVERAGE MAXIMUM
$2.7 $3.3 $4.1

The average price of a large bottle of milk in Edinburgh is 2.6 GBP. The maximum what you would pay for milk is 3.2 GBP and the minimum being 2.1 GBP depending on the brand of milk and other properties.

12 eggs price

1.6 GBP 2.1 GBP 3.2 GBP
MINIMUM AVERAGE MAXIMUM
$2 $2.7 $4.1

A dozen eggs costs around 2.1 GBP on average with 1.6 GBP and 3.2 GBP being the lower and upper limits respectively.

Fresh whole chicken price

3.7 GBP 4.7 GBP 6.7 GBP
MINIMUM AVERAGE MAXIMUM
$4.6 $6 $8.5

The price range of a fresh whole chicken in Edinburgh is between 3.7 GBP and 6.7 GBP depending on the size of the chicken and whether it is oraganic or not. The average price is approximatly 4.7 GBP.

Pack of beef price

4.3 GBP 6.4 GBP 13 GBP
MINIMUM AVERAGE MAXIMUM
$5.4 $8.2 $16

The price of a regular pack of beef or meat is around 6.4 GBP. A pack of beef contains around 1Kg or 1lb depending on packing.

Medium bag of rice price

1.7 GBP 2.4 GBP 3.4 GBP
MINIMUM AVERAGE MAXIMUM
$2.2 $3 $4.3

A bag of rice in Edinburgh costs around 2.4 GBP on average with prices rangeing between 1.7 GBP and 3.4 GBP depending on the brand and quality.

Bag of tomatos price

0.65 GBP 0.86 GBP 1.6 GBP
MINIMUM AVERAGE MAXIMUM
$0.82 $1.1 $2

A bag of tomatoes costs anywhere from 0.65 GBP to 1.6 GBP. A bag of tomatoes denotes 1Kg or 1lb depending on location.

Bag of apples price

1.2 GBP 1.5 GBP 2.5 GBP
MINIMUM AVERAGE MAXIMUM
$1.5 $1.9 $3.1

A bag of apples costs 1.5 GBP on average. A bag of apples denotes 1Kg or 1lb depending on location.


Grocery and food expenditure to income ratio


( monthly grocery expenses / monthly income ) x 100


18% 27% of income 33%
MINIMUM AVERAGE MAXIMUM

The average grocery-to-income ratio in Edinburgh is around 27%. This means that people spend 27% of their income on grocery and basic household items. The expenditure can range from 18% to 33% depending on salary and location.


Expenditure on food and grocery for every population group

A single person living alone spends approximately 370 GBP per month on grocery and food with expenditure fluctuating between 53 GBP and 2,500 GBP depending on location and the type of person. The average cost of food and groceries for a couple is around 540 GBP per month. That number can be get as low as 180 GBP or a high as 2,900 GBP. Families' spending on grocery ranges from 320 GBP to 6,000 GBP with the location, income, and size of the family being the most determinite factors.


Single
Spending habits, consumption analysis, and expenditure patterns for a single person living in Edinburgh

Housing cost for a single person31%

31% of total expenses on average (19% to 43%)

LOW$150   120 GBP
AVERAGE$1,100   830 GBP
HIGH$7,000   5,600 GBP
Per Month

Utilities, Electricity, Water, Internet, Mobile8%

8% of total expenses on average (4% to 13%)

LOW$25   20 GBP
AVERAGE$180   140 GBP
HIGH$1,200   930 GBP
Per Month

Transport and Fuel Cost6%

6% of total expenses on average (4% to 12%)

LOW$33   26 GBP
AVERAGE$230   190 GBP
HIGH$1,600   1,200 GBP
Per Month

Food and Groceries Cost18%

18% of total expenses on average (12% to 23%)

LOW$67   53 GBP
AVERAGE$470   370 GBP
HIGH$3,100   2,500 GBP
Per Month

Healthcare Cost11%

11% of total expenses on average (5% to 15%)

LOW$38   30 GBP
AVERAGE$260   210 GBP
HIGH$1,800   1,400 GBP
Per Month

Leisure and Shopping Expenditure3%

3% of total expenses on average (3% to 6%)

LOW$21   16 GBP
AVERAGE$150   120 GBP
HIGH$980   770 GBP
Per Month

Education Cost2%

2% of total expenses on average (1% to 4%)

LOW$8.3   6.6 GBP
AVERAGE$59   46 GBP
HIGH$390   310 GBP
Per Month

Other Expenses21%

21% of total expenses on average (13% to 25%)

LOW$75   59 GBP
AVERAGE$530   420 GBP
HIGH$3,500   2,800 GBP
Per Month


Couple
Average monthly living expenditure breaks and spending patterns for couples in Edinburgh

Housing cost for a couple28%

28% of total expenses on average (21% to 38%)

LOW$550   440 GBP
AVERAGE$1,700   1,300 GBP
HIGH$8,900   7,000 GBP
Per Month

Utilities, Electricity, Water, Internet, Mobile7%

7% of total expenses on average (5% to 11%)

LOW$65   51 GBP
AVERAGE$220   170 GBP
HIGH$1,400   1,100 GBP
Per Month

Transport and Fuel Cost10%

10% of total expenses on average (4% to 15%)

LOW$200   150 GBP
AVERAGE$590   460 GBP
HIGH$3,100   2,500 GBP
Per Month

Food and Groceries Cost16%

16% of total expenses on average (11% to 21%)

LOW$230   180 GBP
AVERAGE$680   540 GBP
HIGH$3,600   2,900 GBP
Per Month

Healthcare Cost13%

13% of total expenses on average (7% to 17%)

LOW$180   140 GBP
AVERAGE$540   420 GBP
HIGH$2,900   2,300 GBP
Per Month

Leisure and Shopping Cost4%

4% of total expenses on average (2% to 7%)

LOW$98   77 GBP
AVERAGE$290   230 GBP
HIGH$1,600   1,200 GBP
Per Month

Education Cost2%

2% of total expenses on average (1% to 4%)

LOW$33   26 GBP
AVERAGE$98   77 GBP
HIGH$520   410 GBP
Per Month

Other Expenses20%

20% of total expenses on average (14% to 26%)

LOW$280   220 GBP
AVERAGE$830   660 GBP
HIGH$4,400   3,500 GBP
Per Month


Family
Average monthly expenses and break out of spending for families living in Edinburgh

Housing cost for a family27%

27% of total expenses on average (22% to 37%)

LOW$730   580 GBP
AVERAGE$2,100   1,600 GBP
HIGH$14,000   11,000 GBP
Per Month

Utilities, Electricity, Water, Internet, Mobile5%

5% of total expenses on average (3% to 8%)

LOW$110   90 GBP
AVERAGE$330   260 GBP
HIGH$2,100   1,700 GBP
Per Month

Transport and Fuel Expenses6%

6% of total expenses on average (4% to 8%)

LOW$230   180 GBP
AVERAGE$650   510 GBP
HIGH$4,200   3,300 GBP
Per Month

Food and Groceries Cost20%

20% of total expenses on average (13% to 26%)

LOW$410   320 GBP
AVERAGE$1,200   930 GBP
HIGH$7,600   6,000 GBP
Per Month

Healthcare Expenses10%

10% of total expenses on average (6% to 15%)

LOW$210   160 GBP
AVERAGE$650   510 GBP
HIGH$3,400   2,700 GBP
Per Month

Leisure and Shopping Cost3%

3% of total expenses on average (2% to 7%)

LOW$110   90 GBP
AVERAGE$330   260 GBP
HIGH$2,100   1,700 GBP
Per Month

Education Cost14%

14% of total expenses on average (7% to 22%)

LOW$320   250 GBP
AVERAGE$910   720 GBP
HIGH$5,900   4,700 GBP
Per Month

Other Expenses15%

15% of total expenses on average (8% to 20%)

LOW$180   140 GBP
AVERAGE$520   410 GBP
HIGH$3,400   2,700 GBP
Per Month


Student
Cost of living and expenses break down for students living in Edinburgh

Housing costs for Student19%

19% of total expenses on average (14% to 25%)

LOW$78   62 GBP
AVERAGE$510   400 GBP
HIGH$3,400   2,700 GBP
Per Month

Utilities, Electricity, Water, Internet, and Mobile Expenses6%

6% of total expenses on average (4% to 10%)

LOW$13   10 GBP
AVERAGE$84   67 GBP
HIGH$560   440 GBP
Per Month

Transport and Fuel Cost5%

5% of total expenses on average (5% to 11%)

LOW$23   18 GBP
AVERAGE$150   120 GBP
HIGH$990   780 GBP
Per Month

Food and Groceries Expenditure22%

22% of total expenses on average (16% to 26%)

LOW$65   51 GBP
AVERAGE$420   330 GBP
HIGH$2,800   2,200 GBP
Per Month

Healthcare Cost8%

8% of total expenses on average (5% to 11%)

LOW$20   15 GBP
AVERAGE$130   100 GBP
HIGH$840   670 GBP
Per Month

Leisure and Shopping Cost3%

3% of total expenses on average (2% to 7%)

LOW$16   13 GBP
AVERAGE$110   83 GBP
HIGH$700   560 GBP
Per Month

Education Cost19%

19% of total expenses on average (12% to 24%)

LOW$62   49 GBP
AVERAGE$400   320 GBP
HIGH$2,700   2,100 GBP
Per Month

Other Expenses18%

18% of total expenses on average (12% to 24%)

LOW$49   39 GBP
AVERAGE$320   250 GBP
HIGH$2,100   1,700 GBP
Per Month
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