Buy-to-letNews

Women pay more of their salary towards rent than men

On average women pay more of their salary towards rent than men, research from room share platform ideal flatmate has showed.

The average male is required to spend 28.6% of their salary on rent, while this climbs to 42.6% for the average female.

This gap is at its largest in England at 17.9%, with men spending 35.5% of their salary on rent while women spend 53.4%.

Tom Gatzen, co-founder of ideal flatmate, said: “Despite the spotlight that has focussed on the gender pay gap for quite some time, it’s clear there is still a worryingly large disparity between the earnings of female and male workers across the UK.

“This isn’t simply a case of equal pay but equal opportunity across the board and there is a real lack of this when it comes to rental affordability in particular.

“Tackling the UK rental market is tough enough as it is without the immediate set back of a 14% reduction in your rental potential due to a lower wage.

“As a result of this inferior financial foundation, female workers are forced to either pay far more in rent or be priced out of the market altogether, resulting in a wider search, a longer commute, and a lower quality of life.”

The smallest gap is in Wales, with women spending 35.3% while it costs men 25.4%, a 9.8% difference.

Based on the average wage for those living there, East Renfrewshire in Scotland is the most affordable spot for men with just 17.1% of salary spent on rent each month.

Rhondda Cynon Taf in the south of Wales is the most affordable rental market for women, however, it would require them to pay 29.7% of their salary on rent.

In London, male renters in Bexley have it best, paying 39% of their salary on rent, while Greenwich is the most affordable for female tenants but requires 58.5% of their salary to rent.

 

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