Does your area feature in Rightmove’s most affordable rental locations?

Hull has topped the list as the most affordable city in Great Britain to rent, new data from Rightmove has revealed.

The average advertised rent in the city of Hull is £799 per calendar month (pcm), the lowest in Rightmove’s analysis of the 50 largest cities. The typical rent in Hull is 48% below the average across Great Britain, which now stands at £1,526pcm.

A typical monthly rental payment in Hull takes up 26% of the average single monthly earning across Great Britain, compared with 50% nationally.

This is halved if two people were splitting the cost of the rent equally together.

Second on the list of Great Britain’s most affordable cities is Carlisle, where the average advertised monthly rent is now £816pcm. Wrexham is third on the list, at £817pcm.

The findings come as many students have sent off their university applications this week, with affordable rents being one factor that many will be considering.

At the other end, London continues to be the most expensive city to rent in with the average advertised rent of a home reaching a new record of £2,695pcm.

St. Albans is second on the list at an average of £2,330pcm, and Oxford is third at £2,041pcm.

Steve Pimblett, Chief Data Officer at Rightmove, comments, “With average rents continuing to rise in most cities, many are having to consider their affordability when choosing a city to live in, including students heading off for their university adventure later this year.”

“We are seeing rental price growth slowing overall and a better balance between supply and demand. However, as seen by this data, the picture can look quite different depending on where you’re looking to live, and agents tell us the market is still very busy compared with pre-pandemic norms.”

Great Britain’s most affordable cities to rent in

Ranking City Average advertised rent per calendar month Average monthly rent as a % of average single monthly earning Average rental price growth compared to last year
1 Hull £799 26% +8.2%
2 Carlisle £816 27% +10.4%
3 Wrexham £817 27% -16.3%
4 Sunderland £833 27% +12.9%
5 Stoke-On-Trent £862 28% +5.5%
6 Bradford £876 29% +8.6%
7 Dundee £885 29% -3.7%
8 Doncaster £893 29% +2.7%
9 Lancaster £964 32% +3.9%
10 Preston £986 32% +3.5%
  GB £1,526 50% +4.3%

 

Great Britain’s most expensive cities to rent in

Ranking City Average advertised rent per calendar month Average monthly rent as a % of average single monthly earning Average rental price growth compared to last year
1 London £2,695 88% +8.2%
2 St. Albans £2,330 76% +2.2%
3 Oxford £2,041 67% +2.8%
4 Winchester £1,985 65% -3.3%
5 Brighton £1,880 62% +3.5%
6 Cambridge £1,870 61% +1.8%
7 Chelmsford £1,857 61% +8.5%
8 Salford £1,739 57% +30.5%
9 Milton Keynes £1,641 54% +9.2%
10 Edinburgh £1,620 53% +5.3%
  GB £1,526 50% +4.3%

 

Rents fall for first time since before the pandemic

 

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