Tenants pay as much as 43% of earnings on the cost of renting - Least affordable rental markets revealed
The latest insight into the rental market from Ocasa has revealed that the average tenant is paying 23.5% of their net earnings on the cost of renting, climbing as high as 42.8% in the nation’s least affordable pockets of the rental market.
With the average cost of renting an apartment in London now at £1,650pcm, many workers in the capital are having to fork out almost half of their earnings on housing. For young professionals wanting to be close to central London, homes come with an even higher price premium – with rent for one-bedroom apartments in Tower Hamlets, Hackney and the City of London commanding £2,280pcm, £2,130pcm...
