Milton Keynes residents are among the most flush in the country, according to research

According to finance comparison website www.finder.com every month Milton Keynes residents have £1,241 left after cost of living is taken into account (including things such as rent and food), which is £158 above the UK average.

Milton Keynes residents earn the third highest wage in the study, getting an average of £2,348 per month after taxes.

The UK city where residents have the most disposable income has been revealed to be Derby, with locals enjoying an average of £1,456 to spend per month after after tax, bills and general (essential) outgoings such as travel and food. Derby residents earn around £200 a month above the national average, and have the second lowest cost of living in the study.

The analysis compared average city salaries against local rent and other standard monthly outgoings for 30 UK cities to find who enjoys the most, and least, disposable income.

Speaking about the findings, Jon Ostler, CEO at finder.com, said: “If you’re considering moving to a new city, it is important to have an idea of the cost of living there. It may seem counterintuitive, but this analysis shows that a lower wage offered in a different city doesn’t automatically mean you have less money to spend, and could actually see you keep more.

“If you want to keep a closer eye on what you’re spending, budgeting apps are useful tools to track your outgoings. This will ensure you don’t overreach financially but can also help you grow your savings or spot ways that you can easily save money.”

Top six cities for disposable income

1. Derby

2. Reading

3. Southampton

4. Edinburgh

5. Aberdeen

6. Milton Keynes