Trust for London Releases New Minimum Income Standard for London
29th July 2025
Trust for London has released an update on its 2024 report detailing the Minimum Income Standard for London. The update shows that half of London’s children are growing up without enough for a basic standard of living, while nearly four million people are living in households with inadequate incomes.
What Is the Minimum Income Standard for London?
The Minimum Income Standard (MIS) is a measure of what a person needs to earn in order to reach an acceptable standard of living. The current figure for London is £47,000. The figure for the rest of the UK is £28,000. This metric represents enough income to afford essential products, while also being able to participate in society. It provides a benchmark for what is considered a ‘basic standard of living’.
Minimum Income Standard for London 2024
Why Does It Cost More To Live In London?
According to the MIS, it costs £47,000 to achieve a ‘basic standard of living’ in London. This is £19,000 more than the rest of the UK. This is due to a higher cost of living, which Trust for London attributes to two main drivers: childcare and housing.
Single, working-age adults have the highest MIS for London – it costs 70% more in Inner London to afford essential items and participate in society, and 45% more in Outer London, than the rest of urban UK.
Single parent households are also affected – it costs 57% more in Inner London and 34% more in Outer London to achieve the minimum income standard.
Find Out More
Discover the full update on the Trust for London website here. Trust for London will also be holding a free online event with the report author.
