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.
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.
Show the figures
| Year | Manchester | Tower Hamlets |
|---|---|---|
| 2005 | 100 | 100 |
| 2006 | 117 | 108 |
| 2007 | 129 | 127 |
| 2008 | 125 | 132 |
| 2009 | 112 | 114 |
| 2010 | 115 | 125 |
| 2011 | 114 | 127 |
| 2012 | 115 | 127 |
| 2013 | 115 | 137 |
| 2014 | 125 | 169 |
| 2015 | 133 | 187 |
| 2016 | 145 | 203 |
| 2017 | 158 | 204 |
| 2018 | 167 | 198 |
| 2019 | 173 | 194 |
| 2020 | 178 | 207 |
| 2021 | 209 | 220 |
| 2022 | 231 | 220 |
| 2023 | 233 | 204 |
| 2024 | 241 | 205 |
| 2025 | 247 | 206 |
| 12 months to July 2026 | 251 | 191 |
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.
Show the figures
| Year | Manchester | Tower Hamlets |
|---|---|---|
| 2005 | 4.8 years of pay | – |
| 2010 | 5.0 years of pay | 9.0 years of pay |
| 2015 | 5.4 years of pay | 13.4 years of pay |
| 2020 | 6.3 years of pay | 12.3 years of pay |
| 2025 | 6.8 years of pay | 9.8 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.
Show the figures
| Year | Manchester | Tower Hamlets |
|---|---|---|
| 2015 | 100 | 100 |
| 2016 | 101 | 106 |
| 2017 | 106 | 109 |
| 2018 | 112 | 108 |
| 2019 | 114 | 109 |
| 2020 | 117 | 110 |
| 2021 | 120 | 104 |
| 2022 | 127 | 103 |
| 2023 | 139 | 117 |
| 2024 | 156 | 130 |
| 2025 | 167 | 137 |
| August 2026 | 174 | 142 |
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 |