A Minimum Income Standard for London 2024

The latest Minimum Income Standard (MIS) London report reveals that, for the first time since research began in 2014, it can no longer be assumed that families with children will have access to social housing. This shift that has significant implications for the cost of living and the adequacy of social support in the capital.

Now in its tenth year, our 2024 MIS London study, which focused on what households with children need to live with dignity, highlights the growing disparity between London and other urban areas of the UK. It found that 4 in 10 Londoners (41%) – and half of all children – live in households with incomes below the minimum required for a dignified standard of living.

Key Findings:

  • For the first time, groups agreed that access to social housing is no longer a reasonable assumption for families with children. The switch to private rents significantly raises costs:
    • A couple with two children in Inner London now needs to earn £41,600 each per year to reach MIS, compared to £34,700 in other UK urban areas
    • A lone parent with two children needs 57% more in Inner London and 34% more in Outer London than their counterparts outside the capital
  • 3.7 million Londoners, including over 1 million children, live in households below MIS
  • A single working-age adult in Inner London needs 70% more than those living in other UK urban areas, and needs to earn £47,300 annually (vs. £28,000 outside London) to reach MIS
  • Households relying solely on benefits fall far below the MIS threshold. A non-working couple with two children renting privately in Inner London has no disposable income left after covering rent and council tax

The report also draws attention to systemic challenges that continue to put pressure on Londoners: the high cost of childcare, rising transport expenses, and a chronic lack of affordable housing.