The research looked at the average cost of rent in each town or city, as well as other student expenses, such as weekly household expenditures.
Around the country, freshers are settling into the academic year, while prospective students are busy preparing their applications for next September.
With spiralling costs for accommodation, food and bills, plus fees now up to £9,250 a year, many will be keeping an eye on which town or city in the UK is the most affordable for students to live in.
The research was carried out by fee-free mortgage broker L&C Mortgages, and used data from Numbeo, ONS, 4icu, National Records of Scotland, NISRA, gov.wales, gov.scot to examine the monthly average cost of rent, gas and electricity, groceries, and transport costs.
These expenses were combined to identify the student towns and cities that would incur the lowest costs for the average student to live, socialise and study in.
Middlesbrough was identified as the most affordable place for students to live, with an average monthly expenditure of £758.58.
It had a monthly average rent cost of £286.81 for students, based on the average price of a one-bedroom flat or house.
In second place was nearby Sunderland, which had a monthly expenditure estimated at £775.77 for students. The city in Tyne and Wear had a monthly average rent expense of £304.63 for students.
Hull followed in third, with bills of £782.82. The East Yorkshire city had an average student rent price of £271.92.
In fourth place was Carmarthen, which had an average monthly expenditure of £786.69 and average rents of £267.63.
Rounding out the top five was Pontypridd, with a monthly student expenditure of £800.69 and average rents of £282.05.
Other towns and cities within the top 10 most affordable places for students were Bangor (£802.27), Bradford (£805.54), Wrexham (£808.71), Huddersfield (£809.94) and Preston (£848.24).
At the other end of the spectrum, London was identified as the most expensive city for students, with a monthly student expenditure of a whopping £1,542.44 and an average rent price of £1,006.75 in the capital.
Seaside favourite Brighton was deemed the second priciest place, with a monthly student expenditure of £1,410.33 and an average student rent price of £764.
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The third most expensive student area was Oxford. The historic student city with its dreaming spires had a monthly student expenditure of £1,291.13 and reported an average rent price of £775.81.
Well-heeled south west city Bristol followed as the fourth most expensive area for students, with a monthly student expenditure of £1,286.31. Its average rent for students in the city was calculated to be £733.81.
Rounding out the top five most expensive towns and cities for students was Guildford, with the Surrey town averaging a monthly student expenditure of £1,271.15 and an average rent price of £705.90.
Other towns and cities within the top 10 most expensive places for students to live include Buckingham (£1,257.03), High Wycombe (£1,250.22), Cambridge (£1,246.50), Reading (£1,227.43) and Edinburgh (£1,217.68).
