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Monday, October 11, 2021
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How London renters are squeezed

In London, renters can expect to spend just under 40% of their income on private rentals. This is based on numbers from the Office for National Statistics (ONS), which examined the percentage of income that middle-income renters can expect to spend on average-price rental properties in 2020.

In the East Midlands, tenants paid the lowest percentage of their income, 22%. Rental affordability has increased in many regions, with the share of tenant income required for rent in 2020 lower than in 2015. Renters in the East of England experienced the largest decline in affordability, with the share of income spent on rent increased from 23%. in 2015 to 26 percent in 2020.

In 2015, tenants in London spent 4.6 percentage points more (42 percent) on rent than their income. Despite this, however, the percentage of Londoners’ income that is spent on rent is still above 30 percent: a threshold that the ONS considers affordable.

[See also: Energy prices, petrol, rent and food: What’s driving the UK’s cost of living crisis?]



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