Cambridge Wealth Disparity
Cambridge has been found to be the least equal city in the UK, in front of both Oxford and London.
Income is more unevenly distributed among residents than any other city with the top 6% of earners taking home 19% of the total income that’s generated while the bottom 20% of people account for just 2% of the total.
This is attributed to a high level of highly-paid, high-skilled jobs in the city, most of which coming from 4,700 tech and life science firms such as Apple, Amazon and Microsoft who turn over £12 billion a year. These jobs attract people from across the world but are largely inaccessible to local people.
This wealth means that house prices in Cambridge are twice the British average (£505,200) and is 6th out of the top 10 cities in the UK with the highest rises in house prices, making it more difficult for people in Cambridge to own or rent homes in the city. This wealth disparity means that 1 in 10 households earn less than £16,518 per year while 13,698 people are living in households that claim benefits, 4,609 of them being children.
Cambridge is the least equal city in the UK
The top 6% of earners in Cambridge take home 19% of total income generated whilst the bottom 20% of earners take home just 2% of the total income
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