2 days ago
Map: The most and least affordable areas to rent across the country
The average renter in England spends more than a third of their income on a home, new figures reveal.
People earning a median salary could expect to spend 36.3 per cent of their income on an average-priced rented home in England in 2024, figures from the Office for National Statistics showed.
This means rent was a third above the threshold that the ONS considers to be affordable. It also marks an increase on the 33.1 per cent of household income that average renters were paying in 2023.
On the other hand, rents were below the 30 per cent threshold in Wales and Northern Ireland last year.
Affordability increased in Wales, from 26.3 per cent of an average renter's income in 2023 to 25.9 per cent in 2024.
In Northern Ireland, rents remained relatively flat, with the ratio increasing to 25.3 per cent from 25.1 per cent.
England's average rent prices are driven higher by costs in 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 per cent of a typical renter's income.
In the London Borough of Kensington and Chelsea, someone on the area's average income would have to spend three-quarters of their pay to keep a roof over their head.
Outside of London, cities like Bristol, Bath, and Brighton, and commuter towns like Sevenoaks and Watford have risen above the 30 per cent threshold.
Across England, monthly rents averaged at £1,232 compared with £3,396 monthly household incomes.
The top 10 least affordable council areas in England and Wales, all in London:
Kensington and Chelsea - 74.3%
Westminster - 55.8%
Wandsworth - 54.0%
Camden - 51.7%
Hammersmith and Fulham - 51.3%
Haringey - 48.3%
Lambeth - 47.1%
Merton - 46.8%
Islington - 45.5%
Richmond upon Thames - 45.3%
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.'
