UK’s Most Affordable Places to Rent a Home
Now, however, their nickname has shifted towards a brand-new direction and people born in the 1980s and 1990s are now, more often than not, referred to as the “Boomerang generation” because of their tendency to move back with their parents after they have unsuccessfully tried to live on their own. But given today’s surging property market, Millennials can hardly be blamed for their fate and for their growing desire to move out of London. But which are the most affordable places to rent a home in the United Kingdom? We are here to answer that question for you.
Cheapest towns and cities to rent
Latest property market researches show that some of the country’s most affordable towns and cities from a tenant’s perspective are set either in Lancashire or somewhere in Yorkshire. The most budget-friendly place to rent a home in the UK is the town of Burnley. With an average rent price of under £415, this pretty spot in Lancashire can make any Londoner who is currently living in a rental property consider a house move. With an average rent of £484, the nearby town of Blackburn is slightly more expensive compared to Burnley but it still nowhere near £2,770 which is the average rent price in London. £484 is also the average rent that people pay in Hull (Kingston upon Hull) and Barnsley set in East Yorkshire and South Yorkshire respectively.
- Kingston upon Hull
Wigan is the second most affordable place for tenants in the United Kingdom. Renting a home in this small town in Greater Manchester will set you back with an average of about £450 which is more than acceptable.
Pictured: A row of houses in Kingston upon Hull
An affordable option for city lovers
Bradford is one of the largest cities you can find on the list of UK’s cheapest places to rent a home in. Known as the Currey Capital of Britain, it ranks as the fourth biggest city in the country and it has a population of nearly 530,000 people. Therefore, if you still want to live in a big city without having to spend a fortune on housing every month, Bradford may be a good alternative for you. Average rental price there is currently estimated at a little over £450.
Cheap is still expensive in the UK
Housing prices in the United Kingdom are higher than ever before. The only good news is that if you want to move home, you can still find low-cost van hire services in London. That, however, is a small consolation since no matter where in London or in the country you to choose to move to, you are not likely to find an affordable home to rent. The above-listed places may be cheapest for renters but for the most part, they can hardly be classified as budget-friendly for tenants. For a rent price to be categorised as “affordable,” it must be not more than 35% of the tenant’s monthly income. Given that the average monthly wage in the country ranges from between £413 (in Southend) and about £727 (in London), Burnley’s average rent price of £415 is still a hard pill to swallow.