Affordable living in the West Midlands

The West Midlands offers a wide range of housing options, so there are plenty of places to consider. There are options for those on a budget, as well as those looking for more lucrative choices.

For those seeking affordable homes, the region has several areas where the cost of living is significantly lower than the national average. According to the ONS, the average house price in the West Midlands in 2024 is £245,000, which is below the UK average of £315,000.

Finding the cheapest place to live in West Midlands can provide savings while also granting access to active communities, convenient transport links, and growing economic opportunities. Considering that many towns and neighbourhoods offer affordable housing, it is no wonder that the West Midlands continues to attract first-time buyers, investors, and families.

10 Cheapest Places to Live in the West Midlands

Knowing which are the cheapest places to live in the West Midlands can help homeowners find affordable housing options without compromising on quality of life. Here are ten areas in the region that are known for their budget-friendly property prices.

Hanley

Hanley has an average asking price of £115,023, making it one of the most affordable areas in the West Midlands. It is located in Stoke-on-Trent and offers a beautiful shopping district and cultural attractions while also providing residents with urban amenities at lower costs.

Burslem

Another part of Stoke-on-Trent is Burslem, where the average property price is £122,663. This area is known for its rich pottery heritage and combines affordable living with historical charm, perfect for those interested in arts and history.

Wolverhampton Central

The average house price in Wolverhampton Central is £122,500, which is quite cost-effective as its location offers easy access to all kinds of points of interest, including transport links. The city centre provides a mix of retail outlets, entertainment venues, and dining options. Due to recent infrastructure improvements, including the West Midlands Metro tram extension, it has enhanced connectivity to Birmingham and other areas.

Walsall Town Centre

Property prices in Central Walsall offer affordable housing, with the average price around £130,000. Walsall features a variety of amenities, such as shopping centres, a leather museum, and the Walsall Arboretum. Because Birmingham is nearby, it is convenient for commuters looking for lower housing costs.

Chesterton

Part of Newcastle-under-Lyme, Chesterton offers lower housing prices that average around £154,997. This suburban area provides local schools, parks, and community centres, making it perfect for families. Due to its location, it is also easy to access the amenities that Newcastle-under-Lyme and Stoke-on-Trent have to offer.

Longton

Another area located in Stoke-on-Trent is Longton, where prices average around £154,997. Longton is home to the Gladstone Pottery Museum and offers a range of supermarkets and independent stores. One thing that Longton residents can be proud of is the sense of community they have created, as well as the local events hosted in the area.

Small Heath, Birmingham

Located in Birmingham’s postcode B10, Small Heath has an average house price of £202,671. This area is fantastic for those who love convenience, as there are numerous local shops, restaurants, and parks, and its proximity to Birmingham city centre and public transportation makes this area incredible, especially when considering the affordable price of urban living.

Handsworth, Birmingham

Another affordable part of Birmingham is the B21 postcode, which has an average house price of £203,350. Handsworth is known for its cultural heritage, highlighted in Handsworth Park and the Soho House Museum. There are also various shops, schools, and community services that residents can enjoy.

Perry Barr, Birmingham

The B44 postcode has an average house price of £205,188. Due to the ongoing regeneration, which includes new housing developments and improved transportation, it is becoming appealing to residents seeking something affordable.

Sandwell

One of the cheapest places to live in the UK is Sandwell, with the average property price around £143,000. Birmingham is relatively close, and the connections to the south are great as well, making Sandwell a desirable location for many. The borough is well-suited for families, as there are plenty of well-rated schools in the area too.

What is the cheapest borough in the West Midlands?

When it comes to the cheapest borough in the West Midlands, the one with the lowest property prices and affordability ratios has to be Stoke-on-Trent. The average property price in the area is £154,997. The affordability ratio of house price-to-earnings is 3.8, indicating that the average property prices are 3.8 times the average annual earnings in the area.

What are the cheapest places to live near the West Midlands?

What is the most deprived area in the West Midlands?

The most recent comprehensive data on deprivation levels in the West Midlands is from the Indices of Multiple Deprivation (IMD) 2019. This data shows that the most deprived local authority is Birmingham, as it ranks 7th out of 317 local authorities nationally. This deprivation affects various aspects of residents' lives, such as their income, employment, education, health, and housing.

Some areas within Birmingham, such as Druids Heath, exemplify significant deprivation. According to the 2019 IMD, some parts of this area are among the most deprived in the city and rank within the top fifty deprived areas nationally. While things might have changed since 2019, Birmingham is still considered the most deprived area in the West Midlands, according to these statistics.

Is the West Midlands a low-income area?

The economic landscape within the West Midlands is quite versatile, so the average household income varies significantly depending on the area of the West Midlands. According to the West Midlands Combined Authority’s State of Region 2023 report, the average household income ranges from £21,209 in Birmingham's Castle Vale Ward to £59,666 in Solihull's Dorridge and Hockley Heath Ward.

When this is compared to national figures, the West Midlands’ average income is relatively lower. The ONS reported the average income in the UK at the end of 2023 was £34,500. With this in mind, there are certain areas in the West Midlands that experience lower income compared to the national average, but there are some areas that are significantly higher as well.

Which areas of the West Midlands are facing the most regeneration?

There are multiple areas that are undergoing significant regeneration efforts in the West Midlands. The goal is to revitalise these urban areas and boost economic growth while enhancing the community's well-being along the way. Here are the key areas that are experiencing the most regeneration:

Digbeth, Birmingham

Digbeth, also known as Birmingham’s “Creative Quarter,” is undergoing a lot of redevelopment. The transformation includes the establishment of Digbeth Loc Studios, as it is set to host productions such as “MasterChef.” The BBC is also relocating its Birmingham operations to the Typhoo Tea factory in Digbeth, which is further revitalising the area’s status in media and culture.

Brierley Hill, Dudley

While the regeneration initiatives are not that recent, the effects from the DY5 Business and Innovation Enterprise Zone that launched in 2017 are still active. On top of this, the area will also benefit from the metro extension that will connect Brierley Hill with the metro network and the proposed HS2 line.

Stoke-on-Trent

The former industrial site is undergoing redevelopment and is worth £60 million. The goal is to transform it into a new urban neighbourhood called Goods Yard. The first phase of this project is supposed to be completed by spring 2025, which includes the development of a public square, canalside dining, 174 rental homes, and plans for a 150-bed hotel.

Longbridge, Birmingham

Another former industrial area that is undergoing regeneration is Longbridge, which has seen development in the form of new homes and jobs. While its scale is not as big as Stoke-on-Trent, the regeneration definitely has a positive impact on revitalising the community.

Bordesley, Birmingham

Bordesley is set to be transformed as part of an extended Digbeth city centre quarter. There will be a demolition of existing industrial buildings, which are to be replaced by blocks of apartments.

What is the least deprived area in the West Midlands?

According to the IMD 2019, Solihull is the least deprived area in the West Midlands. Nationally, Solihull ranks 171st out of 317 local authorities, which places it in the 54th percentile for deprivation. In contrast, other areas in the West Midlands, such as Birmingham, are in the 2nd percentile, where the levels of deprivation are much higher, showing just how much better Solihull is standing.

How to sell your house in cheap West Midlands areas?

If you are selling a property somewhere that is the cheapest place to live in West Midlands, there are various ways that you can sell your house. Here are some things that you want to consider:

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

By far, the easiest and most convenient way to sell a house in the West Midlands is through cash home buyers like The Property Buying Company. This approach eliminates elements that make the selling process lengthy and stressful, such as viewings, negotiations, and waiting for buyers to secure funds to finalise the sale.

Cash home buyers save you time, but they can also save you money. A trusted cash buyer such as TBPC will handle all legal fees and provide a no-obligation valuation. If you are looking to sell your home quickly and without any complications, check out our website, enter your postcode, and get an offer that can help you sell your home in as little as seven days.