Renting before buying now costs an average £163,000 – what support's available if you’re struggling with rising rental costs

Did you know the average first-time buyer spends over £163,000 on rent before they finally get on the property ladder?

That’s according to new research by specialist mortgage lender Perenna, which highlights just how expensive renting has become in the UK, and how it’s impacting people’s ability to save for a home.

Rent costs are rising

In 2015, the average renter spent around £116,427 before buying their first home. Fast forward to today and that figure has jumped by £46,621 to £163,047.

Renting for longer than ever

Perenna’s research also found that first-time buyers are now renting for 12.8 years on average, up from 11.4 years a decade ago, assuming renting starts at age 21.

With rental prices rising faster than both inflation and wages, many are stuck in a cycle where it’s becoming harder to save while paying rent.

What’s happening with rent prices?

According to the Office for National Statistics (ONS), private rents in the UK have increased by 5.7% in the 12 months up to August 2025. That’s higher than:

• inflation: 3.8%
• wage growth: 4.8%

Current average rents across the UK

• In England, average monthly rent rose to £1,403.
• In Wales, rents increased by 7.8% to £811 per month.
• In Scotland, rents went up by 3.5%, to £1,002 a month.
• London remains the most expensive place to rent, with average rents now at £2,253 per month.
• North East England has the lowest average rent at £745 a month.

What help is available for renters?

If you're struggling with the rising cost of rent, there is support available:

Universal credit

If you’re of working age, universal credit (UC) may include extra money to help with rent and service charges. This housing element is usually included in your monthly UC payment and paid directly to your landlord.

You can also apply for additional support from your UC if you're dealing with financial hardship.

Housing benefit

If you’re over state pension age, you might qualify for housing benefit through your local council. Some people under pension age may also be eligible, particularly if they live in supported or temporary housing.

The amount you receive depends on:

• your age
• where you live
• the size of your household

Discretionary housing payment (DHP)

If your rent is already partly covered by UC or housing benefit, you may be able to get a discretionary housing payment (DHP). These are short-term payments designed to help with rent or other housing costs.

You can apply for a DHP through your local council.

Charity grants

Organisations like Turn2us can help you find and apply for grants and other financial support from charities and local community groups.

Are you struggling to pay your rent?

If you’re finding it hard to keep up with your rent, here are some steps you can take:

Use our benefits calculator to make sure you’re getting all the support you’re entitled to.

Use our budget calculator to identify where possible savings can be made and free up cash to put towards vital expenses.

We’ve also put together some useful money saving tips for people living in rented accommodation.