Hull has been named the most affordable city in Britain to rent in, with the average monthly cost being as low as £799.
Rent in the area is 48% below the national average of £1,369, according to new research collected by property website Rightmove, making the prospect of moving to the city desirable for renters who want to minimise their living costs.
MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Other affordable cities for renters include Carlisle where the average rent is £816, and Wrexham where a typical month’s rent will set you back by £817.
“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.”
However, the average advertised rent of properties coming to market outside of London fell by 0.2% to £1,341 per calendar month over the last quarter, separate Rightmove data suggests.
Here’s a full list of the top ten of the most inexpensive places to rent in the country:
The cheapest places to rent in England
| Rank | City | Average advertised rent per calendar month | Average monthly rent as a % of average single monthly earning | Average rental price growth compared to |
|---|---|---|---|---|
| 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% |
The most expensive places to rent in England
Some of the most expensive places to rent in Britain include many cities in the East and South East of England. Unsurprisingly, London takes the top spot with the average advertised rent reaching a new record of £2,695 a month, representing 88% of average monthly earnings in Britain.
Other costly places to rent in England include St Albans, where the average monthly rent is £2,330, and Oxford, where rent will cost you around £2,041 a month.
Edinburgh is Britain’s 10th most expensive city to rent in, and Scotland’s most expensive city for renters.
| Rank | 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% |
Related articles
-
Inflation holds steady at 3.8% ahead of BoE meetingThe rate of inflation did not rise in August, but the Bank of England is still expected to keep interest rates on hold tomorrow
-
Thousands of savers with £250k pensions take cash over tax-free money and IHT fearsWith a record £70 billion withdrawn from pensions in the year to March, experts are concerned savers are making knee-jerk decisions without advice that could affect their long term wealth
-
The alcohol industry is suffering as consumers sober up – is it still worth investing in the sector?Changing consumer tastes are rocking the alcohol industry, but the best players are adapting their strategies. Buy them while their shares are still cheap
-
Giorgio Armani: the irreplaceable Il SignoreGiorgio Armani started his fashion business in 1975 and built it into the world’s largest private luxury brand. Where can it go without him?
-
8 of the best properties for sale with mountain viewsThe best properties for sale with mountain views – from an Arts & Crafts house with holiday lets in the Carding Mill Valley in Shropshire to a highland lodge with wood-burning stoves near the Rogie Falls in the Scottish Highlands
-
Review: Puerto Rico – embrace the spirit of BoricuaTravel Natasha Langan discovers why the indigenous name for Puerto Rico has come to define this Caribbean island’s vibrant culture
-
8 of the best beachside properties for saleThe best beachside properties for sale – from an Arts & Crafts house in Hampshire with 128 metres of beach frontage, to a 16th-century house in Norfolk, just 300 metres from a Blue Flag beach
-
A voyage of discovery through the Baltic countriesTravel Max King explores the rich history, culture and cuisine of Estonia, Latvia and Lithuania
-
Are wealthy whisky enthusiasts leaving Britain?Collectables Wealthy whisky enthusiasts are heading to tax-friendly countries such as Dubai, where there is more disposable income to spend on collectable luxuries like rare whisky.
-
8 of the best properties for sale with kitchen gardensThe best properties for sale with kitchen gardens – from a 17th-century timber-framed hall house in Norfolk, to an Arts & Crafts house in West Sussex designed by Charles Voysey with a garden by Gertrude Jekyll
