Interactive graphic: Study ranks Cambridge 11th worst place to make a living
Affordability of property means city performs poorly in TotallyMoney report
With its array of fascinating and world-leading companies, above-average salaries and beautiful scenery, you might argue that Cambridge is one of the best places to work in the country.
Not according to new research by TotallyMoney, which concludes it’s the 11th worst place to make a living.
It places Cambridge 49th out of 59 places in the country - and that’s largely thanks to its high property prices making affordability a real challenge.
The research looked at the median monthly take-home salary, average monthly mortgage repayment, cost of living, unemployment levels and job growth to rank the 59 locations in order, from best place to earn a living to worst.
How Cambridge scored
Overall ranking - 49/59
Median monthly take-home salary - £609
Average monthly mortgage repayment -£2,527
Cost of living rank - 55/59
Employment rate - 73%
Business closures (per 10,000 population) -51.21%
Employment and business rank -19/59
TotallyMoney said of Cambridge: “Famous the world over for its university, Cambridge is not the kind of city you’d want to play chess against. Stephen Hawking and Charles ‘evolution’ Darwin are among its alumni, which boasts no shortage of brainiacs. However, it’s not all folks in gowns and mortarboards.
“Look past the towering, dreaming spires and you’ll find the rapidly evolving tech industry of Silicon Fen, where many software and bioscience start-ups are giving Silicon Valley a run for its money.”
The study found that South East England was the best region, with Crawley, Southampton, Reading, Oxford and Slough taking five spots in the top 10 — first, third, seventh, ninth, and tenth respectively.
Workers in Crawley enjoy salaries similar to those in London. But mortgage repayments and living expenses are much lower there, helping it scoop the top spot.
Derby takes second position and was the only East Midlands location to feature in the top 10. South West England also did well, with Gloucester and Swindon taking fifth and eighth place.
London had the highest take-home salary but the high house prices and cost of living means it only ranked 39th.
TotallyMoney is a free credit report service.