Cost of Living in Penzance
South West
Town
Cornwall, EnglandPopulation: 21,000
Average House Price
£279.9k
-3% vs UK avg (£290k)
Median Salary
£37,015
-5% vs UK avg (£39,039)
Average Rent
£1,056/mo
-12% vs UK avg (£1,200)
Quick Facts
Council Tax£2,079Band D / yr
Energy£139/ mo
Water£34.00/ mo
Broadband£40.00/ mo
Bus Pass£75.64/ mo
House Prices in Penzance
+3.0% year-on-year
Average Property Prices
Based on Land Registry data for 2025-12-01
Average price (all types)
£279,930
Detached£423,150
Semi-detached£269,700
Terraced£232,500
Flat / Apartment£181,350
House prices in Penzance have increased by +3.0% over the past year.
Salaries in Penzance
Annual Salary
Median and mean gross annual pay
Median£37,015
Mean£41,650
Median hourly rate£17.79/hr
Salary Range
Lower and upper quartile earnings
Lower quartile (25th)£25,284
Upper quartile (75th)£49,000
vs UK National Median (£39,039)
-5.2%
£2,024 below national averageMonthly Cost of Living in Penzance
Estimated Monthly Breakdown
What it costs to live in Penzance each month, based on averages from ONS and open data sources.
| Category | Item | Monthly Cost |
|---|---|---|
| Housing | Rent(Average monthly rent) | £1,056 |
| Housing | Council Tax(Band D, paid over 12 months) | £173 |
| Utilities | Energy(Gas and electricity) | £139 |
| Utilities | Water | £34.00 |
| Utilities | Broadband | £40.00 |
| Transport | Transport(Monthly commute estimate) | £195 |
| Food | Groceries(Estimated monthly shop) | £264 |
| Leisure | Leisure(Gym, dining out, entertainment) | £159 |
| Estimated Total | £2,061 |
These figures are estimates based on averages and may vary depending on your lifestyle, property type, and household size. Council tax shown at Band D; your band may differ.
Transport Costs in Penzance
Monthly Bus Pass
Standard adult monthly bus pass
£75.64
Fuel per Litre
Average petrol price per litre
£1.50
Monthly Commute
Estimated monthly commuting cost
£195
Compare Penzance with Another Location
See how the cost of living in Penzance stacks up against other UK cities and towns.
Or choose any two locations to compareFrequently Asked Questions About Living in Penzance
- What is the average house price in Penzance?
- The average house price in Penzance is £279,930, based on HM Land Registry data for 2025-12-01. Detached homes average £423,150, while flats and apartments average £181,350. Prices have risen by +3.0% over the past year.
- What is the average salary in Penzance?
- The median annual salary in Penzance is £37,015, compared to the UK national median of £39,039. This is £2,024 below the national average. Salaries typically range from £25,284 (lower quartile) to £49,000 (upper quartile).
- How much does it cost to rent in Penzance?
- Average monthly rent in Penzance is £1,056 per month. Rents have increased by +3.2% over the past year.
- Is Penzance an affordable place to live?
- Penzance can be a stretch for those on median earnings. Rent accounts for approximately 34% of the median monthly income, which exceeds the 30% affordability guideline. The average monthly rent is £1,056, while the median annual salary is £37,015 (approximately £3,085 per month before tax).
- How does Penzance compare to London?
- The average house price in Penzance is £279,930, compared to approximately £551,000 in London. Property in Penzance costs around 51% of London prices, making it £271,070 cheaper on average. Rent is also more affordable, at £1,056 per month versus approximately £2,253 in London.
- Are house prices rising or falling in Penzance?
- House prices in Penzance are currently rising, with a +3.0% increase over the past year. The current average price of £279,930 reflects data from 2025-12-01. As with all property markets, past performance does not guarantee future changes.
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