Rent affordability worsens in England, official figures show

LONDON

Average renters in England are now spending more than a third of their income on housing, with cities such as London, Bristol, and Brighton becoming increasingly unaffordable, new figures from the Office for National Statistics (ONS) showed on Monday.

In 2024, people earning a median salary could expect to spend 36.3% of their income on an average-priced rented home, according to the ONS. This is above the 30% threshold that the ONS considers to be affordable.

The figure also represents an increase on 2023, when average renters were paying 33.1% of household income on rent.

London's private rental affordability ratio was 41.6% in 2024, keeping England's affordability ratio above the 30% affordability threshold, despite most English regions being below the threshold.

In the financial year ending (FYE) 2024, the most affordable region in England was the North East, with average rent prices of £641 ($868) per month, or 19.8% of private-renter household income. This was followed by the East Midlands, and Yorkshire and the Humber.

Rents have risen in recent years for a number of reasons, including high demand outstripping supply, the pandemic and its aftermath affecting how many people live and work, and buy-to-let landlords passing on increased costs caused by higher interest rates.