Kensington and Chelsea vs Richmond upon Thames: buying or renting a home

A typical terraced house costs £2,150,000 (246%) more in Kensington and Chelsea than in Richmond upon Thames. Measured against local pay, buying is harder in Kensington and Chelsea: it takes 57.5× median annual pay, against 15.3× in Richmond upon Thames.

At a glance

Buying rates the typical price of all homes against median pay; renting rates a year of average rent against median pay; crime rates recorded crime per resident against the England and Wales average.

What the numbers say

Median full-time pay in Richmond upon Thames (£57,233) is 9% higher than in Kensington and Chelsea (£52,576), while a typical terraced house costs 71% less (£875,000 against £3,025,000). Set against local pay, Richmond upon Thames is the easier of the two for a typical earner to buy in.

Buying a terraced house takes 57.5× annual pay in Kensington and Chelsea and 15.3× in Richmond upon Thames. Renting one takes 103% of pay in Kensington and Chelsea and 56% in Richmond upon Thames. Both are harder in Kensington and Chelsea, and the gap is wider for buying.

Across all property types and measured against pay, Kensington and Chelsea is the most expensive of 316 areas to buy in, and Richmond upon Thames is the 14th most expensive of 316 areas. For renting against pay, Kensington and Chelsea is the most expensive of 316 areas and Richmond upon Thames is the 30th most expensive of 316 areas.

Someone on £40,000 in Kensington and Chelsea would need about £11,500 in Richmond upon Thames to be equally placed to buy a terraced house, and about £24,000 to be equally placed to rent one. Keeping the same pay after a move to Richmond upon Thames would leave you better placed to buy. These figures compare housing costs only; they ignore other living costs and the pay you could earn in a new job.

Police recorded 145.8 crimes per 1,000 residents in Kensington and Chelsea and 57.3 in Richmond upon Thames, so recorded crime per resident is 61% lower in Richmond upon Thames. The biggest difference is in sexual offences: 4.1 per 1,000 in Kensington and Chelsea against 1.8 in Richmond upon Thames.

Can a typical earner buy?

Buying, by property type

Renting, by property type

Crime

Police recorded 145.8 crimes per 1,000 residents in Kensington and Chelsea and 57.3 in Richmond upon Thames, so recorded crime per resident is 61% lower in Richmond upon Thames.

Rates use resident population, so city centres and student areas show higher crime per resident than residents experience. Recorded crime also depends on reporting and police recording practice.

How prices have changed in each area

Average house price for all property types, indexed so that 2005 is 100. A line at 200 means prices have doubled.

In 2005 the average home cost £562,861 in Kensington and Chelsea and £343,295 in Richmond upon Thames. Now it is £1,327,221 and £802,985: Kensington and Chelsea is up 136% and Richmond upon Thames is up 134%.

How rents have changed in each area

Average monthly rent for all property types, indexed so that 2015 is 100.

In 2015 the average rent was £2,713 a month in Kensington and Chelsea and £1,660 in Richmond upon Thames. Now it is £3,690 and £2,333: up 36% in Kensington and Chelsea and up 41% in Richmond upon Thames.

What your salary is worth in each area

Salary needed to afford the same kind of home (terraced), going by median prices and average rents.

Moving from Kensington and Chelsea to Richmond upon Thames

Moving from Richmond upon Thames to Kensington and Chelsea

All Kensington and Chelsea figures · All Richmond upon Thames figures