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London Rents Plummet: Only 5 Postcodes Stay Under £800
14 Apr
Summary
- Only five London postcodes now offer average room rents below £800.
- Monthly rents in London have fallen to £978, down from £1,015.
- The cheapest room rental is in East Ham at an average of £727.

The availability of affordable rental rooms in London has drastically diminished, with only five postcodes now offering average monthly rents below £800. This marks a sharp decline from 81 postcodes at the start of the pandemic. While the overall average monthly rent for a room in the capital has dipped to £978 from a high of £1,015 at the end of 2023, the number of budget-friendly options has plummeted.
East Ham (E6) is currently the most affordable area, with average room rents at £727 per month. Other cheaper locations include Manor Park (E12) and Chingford (E4), both at £731, followed by Upper Edmonton (N18) at £774 and Forest Gate (E7) at £781. Renters seeking rooms in other London postcodes must now typically budget over £800 per month.
Experts note that years of high demand have inflated prices, making cheap rents scarce. This situation is forcing renters to seek housing in outer areas and suburbs as inner London becomes increasingly unaffordable. In contrast, the most expensive areas, such as South Kensington and Knightsbridge (SW7), see average room rents exceeding £1,572 per month.