Durham most affordable city to rent in England
Durham is the most affordable city to rent in England, with just 23% of people’s monthly salary going towards rental payments, Open Property Group has found.
To maintain an adequate standard of living, experts advise that tenants should not spend more than 30% of their gross income salary on rent.
Northern cities remain the most affordable rental hotspots, with Lancaster and Liverpool requiring tenants to spend just 24% of their salary on rent.
Jason Harris-Cohen, managing director of Open Property Group, said: “It is noteworthy that the North/South divide is highly evident, demonstrating the low rental values in all cities north of Warwick.
“Despite the sales market being challenging, the rental market has remained buoyant and constrained availability of stock, thus keeping prices strong.
“Hopefully we will continue to see wage growth over the coming years and assuming that the rental values remain static, we will find that the percentage of income spent on rent is more affordable.”
Brighton and Bath are the most expensive cities to rent in, as renters will be expected to spend over half (52%) of their monthly salary on rental payments.