The Cost of a Shorter Commute to Central London
Living near Kilburn Park rather than Maida Vale on the Bakerloo line is only one-and-a-half minutes further from Oxford Circus but average two-bed rents are nearly 25% lower.
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Following our popular articles that show how rents change along various tube lines, we decided to take the analysis one step further. If you jump on the tube and make your way to the centre of town, the rents of properties around each station you pass through will generally go up. We wanted to see how fast weekly two-bed rents changed per minute traveled along the tube into the centre of London.
Across the whole tube network (excluding zone 1), a shorter tube commute will cost you an extra £5.60 per week on average, for every minute saved. For example if you live near a station 20 minutes away from the centre and pay £200 per week, rents around the next station 1 minute closer will be £205.60 per week.
The average increase per minute increases exponentially as you get closer to the centre. For example the average rise per minute is only 28p outside zone 5 but is £11.15 per minute by the time you get to zone 2.
The sharpest increases are seen along the Victoria line where the average rise per minute is £11.20 as you get closer to Oxford Circus.
The biggest single jump is Kilburn Park to Maida Vale on the Bakerloo line where rents jump by a massive £76 per minute. As such, if you’re a tenant looking to live as centrally as possible it really pays to consider which tube station you live near. For example by living near Kilburn Park rather than Maida Vale on the Bakerloo line is only one-and-a-half minutes further from Oxford Circus but average two-bed rents are nearly 25% lower.
Is a shorter commute really worth the extra cost?