Pay vs Place

Manchester vs Tower Hamlets: buying or renting a home

A typical terraced house costs £576,250 (225%) more in Tower Hamlets than in Manchester. Measured against local pay, buying is harder in Tower Hamlets: it takes 16.0× median annual pay, against 7.1× in Manchester.

Manchester, terraced
£256,000
Income typically needed: £51,000
Median full-time pay: £36,278
Tower Hamlets, terraced
£832,250
Income typically needed: £166,500
Median full-time pay: £52,000

At a glance

Manchester Tower Hamlets
Buying a home Fairly affordable Expensive
Renting a home Very expensive Very expensive
Recorded crime High Above average

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 Tower Hamlets (£52,000) is 43% higher than in Manchester (£36,278), while a typical terraced house costs 225% more (£832,250 against £256,000). Set against local pay, Manchester is the easier of the two for a typical earner to buy in.

Buying a terraced house takes 7.1× annual pay in Manchester and 16.0× in Tower Hamlets. Renting one takes 46% of pay in Manchester and 63% in Tower Hamlets. Both are harder in Tower Hamlets, and the gap is wider for buying.

Across all property types and measured against pay, Manchester is around the middle of 316 areas (188th most expensive) to buy in, and Tower Hamlets is the 92nd most expensive of 316 areas. For renting against pay, Manchester is the 46th most expensive of 316 areas and Tower Hamlets is the 15th most expensive of 316 areas.

Someone on £40,000 in Manchester would need about £130,000 in Tower Hamlets to be equally placed to buy a terraced house, and about £78,000 to be equally placed to rent one. Keeping the same pay after a move to Tower Hamlets would leave you worse 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 142.7 crimes per 1,000 residents in Manchester and 106.6 in Tower Hamlets, so recorded crime per resident is 25% lower in Tower Hamlets. The biggest difference is in criminal damage and arson: 10.0 per 1,000 in Manchester against 5.8 in Tower Hamlets.

Can a typical earner buy?

Terraced house Manchester Tower Hamlets
Median full-time pay £36,278 £52,000
House price ÷ pay 7.1× 16.0×
Median pay as a share of income typically needed to buy 71% 31%
Rent a year as a share of median pay 46% 63%

Buying, by property type

Type Manchester Tower Hamlets Difference
Terraced £256,000 £832,250 +225% in Tower Hamlets
Flat £210,000 £444,500 +112% in Tower Hamlets

Renting, by property type

Type (average rent a month) Manchester Tower Hamlets Difference
Terraced £1,405 £2,735 +95% in Tower Hamlets
Flat £1,147 £2,284 +99% in Tower Hamlets

Crime

Police recorded 142.7 crimes per 1,000 residents in Manchester and 106.6 in Tower Hamlets, so recorded crime per resident is 25% lower in Tower Hamlets.

Police recorded crime per 1,000 residents Manchester Tower Hamlets Difference
All recorded crime (excluding fraud) 142.7 106.6 -25% in Tower Hamlets
Violence against the person 51.9 31.3 -40% in Tower Hamlets
Sexual offences 5.6 3.7 -34% in Tower Hamlets
Robbery 2.7 3.8 +38% in Tower Hamlets
Residential burglary (per 1,000 households) 9.3 10.9 +18% in Tower Hamlets
Vehicle offences 7.9 7.2 -9% in Tower Hamlets
Theft from the person 3.9 7.6 +94% in Tower Hamlets
Criminal damage and arson 10.0 5.8 -42% in Tower Hamlets

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.

Manchester: 251Tower Hamlets: 191
House prices in Manchester and Tower Hamlets since 2005, indexed so that 2005 is 100Prices indexed to 2005 = 100. Manchester now 251, Tower Hamlets now 191.10015020025030020052010201520202025House prices in Manchester and Tower Hamlets since 2005, indexed so that 2005 is 100Prices indexed to 2005 = 100. Manchester now 251, Tower Hamlets now 191.10015020025030020102020
Show the figures
YearManchesterTower Hamlets
2005100100
2006117108
2007129127
2008125132
2009112114
2010115125
2011114127
2012115127
2013115137
2014125169
2015133187
2016145203
2017158204
2018167198
2019173194
2020178207
2021209220
2022231220
2023233204
2024241205
2025247206
12 months to July 2026251191

In 2005 the average home cost £100,202 in Manchester and £247,681 in Tower Hamlets. Now it is £251,205 and £474,233: Manchester is up 151% and Tower Hamlets is up 91%. Prices have risen faster in Manchester, so the gap between the two has narrowed.

Buying a home against local pay, over time

Average house price divided by median full-time pay. Higher means harder to afford.

Manchester: 6.8 years of payTower Hamlets: 9.8 years of pay
Years of median pay needed to buy the average home in Manchester and Tower HamletsManchester now 6.8, Tower Hamlets now 9.8 years of pay.0×5×10×15×20052010201520202025Years of median pay needed to buy the average home in Manchester and Tower HamletsManchester now 6.8, Tower Hamlets now 9.8 years of pay.0×5×10×15×20052010201520202025
Show the figures
YearManchesterTower Hamlets
20054.8 years of pay–
20105.0 years of pay9.0 years of pay
20155.4 years of pay13.4 years of pay
20206.3 years of pay12.3 years of pay
20256.8 years of pay9.8 years of pay

In 2010 a home cost 5.0 years of pay in Manchester and 9.0 years in Tower Hamlets. In 2025 it was 6.8 years and 9.8 years.

Affordability has worsened more in Manchester over that time.

How rents have changed in each area

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

Manchester: 174Tower Hamlets: 142
Rents in Manchester and Tower Hamlets since 2015, indexed so that 2015 is 100Rents indexed to 2015 = 100. Manchester now 174, Tower Hamlets now 142.100120140160180201620182020202220242026Rents in Manchester and Tower Hamlets since 2015, indexed so that 2015 is 100Rents indexed to 2015 = 100. Manchester now 174, Tower Hamlets now 142.100120140160180201520202025
Show the figures
YearManchesterTower Hamlets
2015100100
2016101106
2017106109
2018112108
2019114109
2020117110
2021120104
2022127103
2023139117
2024156130
2025167137
August 2026174142

In 2015 the average rent was £790 a month in Manchester and £1,729 in Tower Hamlets. Now it is £1,373 and £2,453: up 74% in Manchester and up 42% in Tower Hamlets. Rents have risen faster in Manchester.

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 Manchester to Tower Hamlets

Earning in Manchester Equivalent to buy in Tower Hamlets Equivalent to rent in Tower Hamlets
£30,000 £97,500 £58,500
£40,000 £130,000 £78,000
£50,000 £162,500 £97,500
£60,000 £195,000 £117,000

Moving from Tower Hamlets to Manchester

Earning in Tower Hamlets Equivalent to buy in Manchester Equivalent to rent in Manchester
£30,000 £9,000 £15,500
£40,000 £12,500 £20,500
£50,000 £15,500 £25,500
£60,000 £18,500 £31,000
Prices are medians for each property type over the last 12 months of registered sales; types with fewer than 100 sales in either area are left out. Rents are ONS averages for the area. Pay is the median for full-time employees living in the area, before tax. Income needed is illustrative: it assumes a 10% deposit and a lender willing to lend 4.5 times income. Real lending depends on your circumstances. Salary equivalents compare housing costs only, not other living costs, tax or the pay you could earn in a new job.

All Manchester figures · All Tower Hamlets figures