What is the average rent-to-income ratio in London?

According to the article, the average rent in London accounts for 41.6% of the median income, far exceeding the 30% affordability threshold.

Which region in England has the most affordable rents?

The article states that the North East region has the most affordable rents, with the average rent accounting for only 19.8% of the median income.

Home / Business and Economy / London Rents Soar to Unaffordable Levels, North East Remains Most Affordable

London Rents Soar to Unaffordable Levels, North East Remains Most Affordable

Q: What is the Renters' Reform Coalition calling for to address the housing affordability crisis?

The article mentions that the Renters' Reform Coalition director, Tom Darling, has called for the government to establish a national rental affordability commission to investigate ways to bring rents down relative to incomes, including through rent regulation.

18 Aug

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Summary

Rents in London reach 41.6% of median income, far exceeding affordability threshold
North East remains most affordable region with rents at 19.8% of income
Calls for rent regulation to address growing affordability crisis for renters

London Rents Soar to Unaffordable Levels, North East Remains Most Affordable

The latest data from the Office for National Statistics (ONS) reveals a concerning trend in England's rental market. As of 2024, people earning a median salary are now spending an average of 36.3% of their income on rent, up from 34.2% the previous year. This figure is even higher in London, where tenants pay a staggering 41.6% of their income on housing.

The situation is particularly dire in the capital, with all 10 of the least affordable council areas located in London. Kensington and Chelsea tops the list, where those on median incomes must allocate 74.3% of their earnings to rent. Other severely unaffordable areas include Westminster, Wandsworth, and Camden.

Outside of London, the least affordable regions are Bristol, Bath and North East Somerset, Brighton, and Trafford, as well as commuter hubs like Sevenoaks and Watford. In contrast, the North East remains the most affordable region, with rents accounting for just 19.8% of the average income.

Experts have called for urgent action to address the growing affordability crisis, with the Renters' Reform Coalition director Tom Darling stating that "the biggest issue facing renters - the cost of their rent - isn't going away any time soon." Darling has urged the government to establish a national rental affordability commission to investigate ways to bring rents down relative to incomes, including through rent regulation.

As the cost of living continues to rise, the strain on renters' budgets is only expected to intensify. With millions forced to prioritize rent over essential expenses, the government faces a significant challenge in delivering on its promise to support the country's renters.

Disclaimer: This story has been auto-aggregated and auto-summarised by a computer program. This story has not been edited or created by the Feedzop team.