An average of 34 per cent of a tenant’s typical salary is spent on rent across the UK, according to an online lettings platform ā but many areas are substantially higher.
Howsy looked at government data on rental costs across England, Scotland, Wales and Northern Ireland, plus figures from the Office for National Statistics showing the average salary in each area.
It says that Wales appears the most affordable nation with rental costs accounting for just 30 per cent of the average monthly salary.
The North East of England is the most affordable region after Wales with 31 per cent of income spent on rental costs.
Unsurprisingly London is bottom of the affordability scale with the average cost of renting accounting for a staggering 65 per cent of the average salary.
Amongst the capital’s boroughs Hackney is the least affordable with a whopping 83 per cent of the average salary in the area spent on renting.
The most affordable locations to rent in the capital are still above the UK average but Bromley and Bexley offer the best pick with the typical rental cost accounting for 46 per cent of the average salary.
Amongst other highly unaffordable locations are Oxford and Brighton.
