Londoners need £20,000 more per year to afford rent

New report reveals the minimum salary required to rent a home in UK cities.


The study by apartment search engine Nestpick shows the minimum amount you need to earn to rent a 420 sq.ft. apartment in eight UK cities.

Unsurprisingly, the most expensive location is London, which requires a minimum annual salary of £50,064 for a furnished apartment (£47,076 unfurnished).

The cheapest city to rent when taking salary ratio into account is Glasgow, where to rent the same size home would need a salary of £18,288 (furnished) or £15,816 (unfurnished).

Ömer Kücükdere, managing director of Nestpick, said: “The Office for National Statistics reported that the average annual wage for a full-time worker in the UK was £28,600 in April 2017.

“According to our study, this means that the majority of UK cities ought to be considered affordable in terms of rent for the average person.

“That in London you must earn £20,000 more per year than the average citizen in order to afford rent, and retain a high quality of life, is very telling of the current housing situation in the UK’s capital city.

“We hope that this study will highlight this disparity and perhaps encourage any fed-up Londoners to explore the many more affordable options around Great Britain, and abroad.”

The report can be read in full here.