Rent vs buy calculator · England
Rent vs buy in Westminster: is it cheaper to rent or buy?
Renting leaves you £926,762 better off after 7 years. Owning a 2-bed terraced house costs about £13,577 a month, against £3,383 to rent the same size home.
- After 7 years
- Rent +£926,762
- Difference in net wealth
- Monthly cost to own
- £13,577
- Mortgage £11,603, of which £3,503 is capital
- Monthly cost to rent
- £3,383
- Rent £3,305 plus council tax
- Median price
- £2,250,000
- terraced house
- Cash needed to buy
- £408,750
- £225,000 deposit + £183,750 SDLT
- Price-to-rent ratio
- 56.7
- Price divided by a year of rent
Renting vs buying in Westminster by home size
| Bedrooms | Price | Rent / mo | Owning vs renting / mo | After 7 yrs |
|---|---|---|---|---|
| 1 bed | £795,000 | £2,548 | +£2,235 | Rent £133,517 |
| 2 bed | £2,250,000 | £3,305 | +£10,194 | Rent £926,762 |
| 3 bed | £4,837,500 | £3,895 | +£25,104 | Rent £2,473,191 |
| 4+ bed | £2,675,000 | £5,424 | +£10,621 | Rent £966,068 |
Average rent and house prices in Westminster
The ONS average private rent in Westminster is £3,196 a month (Aug 2026, provisional), up -0.6% on a year earlier. The median price paid is £865,000 (ONS median price paid, year ending Mar 2026).
Default scenario: 2-bed home, 7 years stay, 10% deposit, 4.80% fixed mortgage, monthly difference invested in a S&S ISA at 7.5%. Council tax is £933 a year (Band C) and is paid whether you rent or buy, so it does not change the verdict.
Renting or buying in Westminster: FAQs
Is it cheaper to rent or buy in Westminster?
For a 2-bed home in Westminster, owning costs about £13,577 a month and renting about £3,383, both including council tax. Renting leaves you £926,762 better off after 7 years. This assumes a 2-bed home, 7 years stay, 10% deposit, 4.80% fixed mortgage, monthly difference invested in a S&S ISA at 7.5%.
What is the average rent in Westminster?
The ONS average private rent in Westminster is £3,196 a month across all home sizes (Aug 2026, provisional), with £2,548 for 1 bed, £3,305 for 2 bed, £3,895 for 3 bed, £5,424 for 4 or more bed. Rents rose -0.6% over the past year.
What is the average house price in Westminster?
The median price paid in Westminster is £865,000 (ONS median price paid, year ending Mar 2026). The calculator uses £2,250,000 for a terraced house, the property type typical for a 2-bed home.
How much is stamp duty on an average home in Westminster?
A first-time buyer paying £2,250,000 would pay £183,750 in SDLT. With a 10% deposit of £225,000, the cash needed on day one is about £408,750.
What is the price-to-rent ratio in Westminster?
About 56.7: the 2-bed price is 56.7 times a year of rent. Higher ratios favour renting; lower ratios favour buying.
Which home size is best value to buy in Westminster?
On the default assumptions, a 1-bed home gives buying its strongest position: renting still ahead by £133,517 after 7 years.
Areas with a similar price-to-rent ratio
Browse every local authority.