Affordable places to live in Lincoln

While Lincoln is usually celebrated for its rich history and beautiful cathedral, it offers a lot more than that. It is a cultural gem and district in Lincolnshire. It is also a practical choice for property investment. Lincoln is known for its affordability and welcoming atmosphere, and it also tends to attract both first-time and experienced buyers. 

Are you looking for a cosy place to settle down? Would you prefer a property with rental potential instead? The average property price in Lincoln is around £234,000, significantly below the national average. So, this is definitely a great choice for value-conscious buyers. 

In this blog post, we’ll explore some of the cheapest places to live in Lincoln, highlighting the city’s most developing areas and discussing all the essential factors.

10 Cheapest places to live in Lincoln

Some of Lincoln’s finest neighbourhoods, like Uphill and Boultham, have higher property prices. This reflects their charm and proximity to the most popular attractions. That said, for those with a tighter budget, there are many other options you can consider.

In some parts of the city, the average house price can be as low as £200,000, which is great news if you are a first-time buyer or simply someone looking for a budget-friendly investment. Of course, when you decide to purchase a property, you need to weigh the pros and cons and your priorities.

Careful research is key to understanding what each area of Lincoln has to offer before you make your final decision. You can choose from plenty of affordable and conveniently located neighbourhoods in Lincoln. If you do decide to purchase a house in the more affordable part, we can help you sell your current home! We buy houses in the UK for cash, making the process much faster and easier. You don’t have to do anything; The Property Buying Company will do all the work for you.

So, what is the cheapest place to live in Lincoln? Here are a couple of examples:

1. Birchwood

This family-friendly suburb has easy access to local schools, shops, and parks. It offers a mix of detached houses and modern developments, making it ideal for larger families and first-time investors. The average house price in Birchwood is around £170,000.

The neighbourhood has excellent public transport. Birchwood features plenty of beautiful greenery, such as Hartsholme Country Park. With its range of affordable housing, it can attract growing families and those seeking a quiet residential area with many conveniences nearby.

2. Ermine (East and West)

Known for its easy access to Lincoln’s city centre, Ermine has all the local amenities you might need. It is also close to the historic Lincoln Cathedral. This area  has many good schools, recreational facilities, and shops.

Ermine is a great place for those who want to live near the city’s historic charm without spending too much. The average house price is between £160,000 and £180,000.

3. Bracebridge

The area boasts well-maintained housing options and easy access to local amenities. Bracebridge is a quiet residential area with good schools. It is a practical option for young families and skilled workers searching for an affordable house near the centre.

It is particularly appealing for professionals as it is close to the train station and other road networks. The average house price is around £175,000.

4. St Giles

With a mix of affordable terraced and council homes, St Giles is an excellent option for everyone. It has many community-focused conveniences, including local shops, food stores, and schools. It is close to local parks and shopping centres, which is why St Giles is a good choice for families. The average house price is around £165,000.

5. Skellingthorpe

Although this village is located just outside Lincoln, it remains a good option for many. It boasts plenty of greenery, good transport links, and is regarded as a peaceful village. It typically attracts families and retirees seeking a suburban lifestyle.

Skellingthorpe offers a blend of rural charm and modern design. The village has schools and numerous outdoor activities for you to consider. The average house price is around £185,000.

6. Washingborough

This picturesque village offers traditional homes in close proximity to local nature trails. It has a rural feel and is quite near to Lincoln. Washingborough provides a tranquil environment, making it perfect for those in search of a quieter lifestyle.

That said, it also features lively pubs, local shops, and various outdoor activities you can enjoy. The average house price is around £190,000.

7. North Hykeham

The neighbourhood has a vibrant atmosphere, with retail parks, leisure options, and numerous restaurants. North Hykeham is a rapidly growing area with many housing developments and some of the best schools. It offers a wealth of amenities alongside affordable housing. The average house price is around £200,000.

8. Monks Road

Monks Road is known for being one of the most affordable areas in Lincoln and features Victorian terraced houses. The average house price ranges from £150,000 to £160,000. It is close to the University of Lincoln, making it a popular location for young professionals and students. Its proximity to the city and the city centre also makes it ideal for renters.

9. Boultham

This residential area offers a mix of housing options and access to Boultham Park. Boultham is a particularly friendly area, and with its excellent schools, it is perfect for families. The average house price is approximately £180,000.

10. Hartsholme

Situated near Hartsholme Country Park, this neighbourhood provides both affordable housing and natural beauty. It is ideal for those who enjoy outdoor activities. Additionally, Hartsholme is close to major roadways and public transport. The average house price is around £190,000.

What is the cheapest borough in Lincoln?

Lincoln is filled with many affordable housing options for those who value cost-effectiveness. It ultimately depends on your specific preferences regarding the neighbourhood you wish to reside in. In 2024, Park Ward is regarded as the cheapest housing area in Lincoln.

Additionally, areas like Birchwood and Abbey are affordable alternatives with slightly higher prices. However, they offer more green spaces and family-friendly places. Both provide good access to public services and schools, which appeal to different individuals.

What is the most deprived area in Lincoln?

Lincoln’s most deprived areas are characterised by higher levels of unemployment, lower income levels, and limited access to education and healthcare, among other quality services. These are the areas that suffer from economic and social challenges.

Is Lincoln a low-income area?

You could say that Lincoln is a relatively low-income area, especially when comparing the UK's national average income. The median salary in Lincoln is around £34,500, while in the UK, it’s around £37,500. The unemployment rate in Lincoln is 5.5%, which is also much higher than the national average of 3.7%. This means that there are greater economic challenges in the area.

However, the housing prices are affordable, which is why Lincoln is usually a good choice for homebuyers despite the lower incomes. Lincoln's overall cost of living is also slightly lower than the national average, even when you include housing, food, and transportation. Thus, even if Lincoln is considered a low-income area when you take all the factors into account, it is definitely an affordable place to move to.

Moving to Lincoln can offer you many opportunities. So, if that’s what you decide, let us assist you in selling your home! You do not have to hire an estate agent because we do all the work for you. TPBC will buy your house for cash!

Which areas of Lincoln are facing the most regeneration?

Over the years, Lincoln has initiated regeneration projects that focus on revitalising key areas that support housing growth and the city’s economy.

One of the major regeneration zones is the Western Growth Corridor. This area is set to have 3,200 new homes built, which includes additional employment and leisure facilities. They are also set to improve transport.

The historic Cornhill Market has also undergone a transformation, funded by a £5.9 million investment from the government's Towns Fund programme. However, this major regeneration work was completed at the end of 2023.

What is the least deprived area in Lincoln?

North Hykeham, Boultham, and some parts of Waddington stand as the least deprived areas in Lincoln in 2024. These areas consistently perform better across the IMD indicators. They have better housing, lower crime rates, and an affluent demographic. They are known to be peaceful, have excellent schools, and numerous leisure facilities. This makes these locations ideal for families and others who seek comfort and convenience.

How to sell your house in cheap Lincoln areas?

Selling your home in one of Lincoln’s more affordable areas requires a different approach compared to selling a home in an averagely priced area. If you do not know where to get started, here is a simple guide that can help.

What's the easiest way to sell a house in Lincoln?

From estate agents to cash buyers, it’s all a matter of preference and affordability. Agents tend to be more expensive and take longer to sell your home, while cash buyers are cheaper and quicker, but often offer a below-market price.

Whether you live in a more affordable area in Lincoln or not, we can help you sell your home without any issues. We might buy properties below the market value, but we also do all the work for you.

The Property Buying Company will cover your fees, both selling and legal fees. We specialise in buying properties quickly, as little as 7 days to be precise. You can sell your home in Lincoln 6 times faster than if you were to work with an estate agent.

If you want to know more about our services, contact us. Our services are entirely free!