Where In London Can You Afford To Rent On Your Own?

By M@ Last edited 51 months ago
Where In London Can You Afford To Rent On Your Own?

How big a salary do you need to rent on your own in London? We made the map above to give an indication.

Dark red = more than £100,000
Red = more than £50,000
Orange = more than £40,000
Yellow = more than £30,000
Green = more than £20,000

[Note: these are only guidelines based on mean values. It is possible to live on less — see notes and caveats below.]

The most expensive borough — surprise, surprise — is Kensington and Chelsea. To rent a decent place on your own, you'll need an annual salary of around £117,000.

The most affordable borough, by contrast, is Bexley. Singletons here can rent a one-bedroom flat on a salary of around £21,000

The mean salary needed across all London boroughs (plus the City of London) is a shade under £40,000.

Notes and caveats

Figures are taken from the Rental Affordability Index 2017. The survey also includes stats that show how much income a family of four need in order to rent across London. It also compares the city to other places in the UK and overseas.

The stats are calculated based on mean price per square foot of property in each borough, and factor in the minimum space recommended for one person (as laid out by the Greater London Authority).

They also assume that a tenant spends no more than 29% of gross salary on rent — a figure recommended in this report.

Given the above, it is of course possible to find rented accommodation in any borough on a lower salary than indicated. You may have to compromise on space or the percentage of your salary that goes on rent.

The research is published by Nested.com. As an online estate agent, it may have its own agenda in commissioning the survey, so treat the stats with a pinch of salt.

Last Updated 15 February 2017