Rent affordability worsens in England as urban areas drive disparity
People earning a median salary could expect to spend 36.3% of their income on an average-priced rented home in England in 2024, the Office for National Statistics (ONS) said.
This means rent prices were above the 30% threshold that the ONS considers to be affordable.
It also marks an increase on the 33.1% of household income that average renters were paying in 2023.
On the other hand, rents were below the 30% threshold in Wales and Northern Ireland last year.
Affordability increased in Wales, from 26.3% of an average renter's income in 2023 to 25.9% in 2024.
In Northern Ireland, rents were relatively flat with the ratio ticking up to 25.3% from 25.1%.
England's average rent prices have consistently been driven higher by London, where renters can expect to pay a significantly higher proportion of their salary on a home.
It was the least affordable city with average rents of £1,957 per month across the capital, or 41.6% of a typical renter's income.
In the London borough of Kensington and Chelsea, average renters were spending nearly three quarters of their income on rent.
Outside of London, urban cities like Bristol, Bath, and Brighton, and commuter towns like Sevenoaks and Watford have risen above the 30% threshold.
Across England, monthly rents averaged at £1,232 compared with £3,396 monthly household incomes.
Sarah Coles, head of personal finance for Hargreaves Lansdown, said: 'Renters faced a horrible squeeze on their incomes, and there's every sign it has got worse since.
'Landlords are continuing to sell up – concerned about higher costs from more regulation and more tax.
'It means more tenants chasing dwindling numbers of properties, so rents are continuing to rise.
'At the same time, although wages have risen impressively, they have been consistently outpaced by private rental increases.'
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