In autumn, the demand for rental housing reaches its peak: the holiday season is ending, business activity is growing, and students are looking for new accommodation. Analysts at picodi.com investigated the offers on the real estate market in the UK, compared them with the average wages and made a ranking of housing affordability.
Among 50 cities considered in the study, the highest average cost of renting a one-bedroom apartment in early September 2020 was noted in the capital — around £1,450 per month. Brighton and Hove ranked second (£900), followed by Milton Keynes in the third place (£895).
The cheapest place to rent a flat is Northumberland, Wakefield, and Dudley. In these cities, the average price of a one-bedroom flat is £325. The study showed that the best rent to average wage ratio is in Dudley. In this city, an average family of two working people would spend only 8.6% of their monthly income on rent. With the cheapest average rent among 50 cities, Dudley also ranks 29th in terms of monthly salaries. Among the most affordable cities for tenants are also Wakefield and North Lanarkshire (both 8.7%).
However, Londoners, who found themselves at the top of the ranking, would have to pay 29.3% of their combined salary for a one-bedroom flat.