Rents rise £221 a month in just three years – find out which towns and cities have taken the biggest hit

New figures from Zoopla show that average UK rents have gone up by £221 a month since 2022 – that’s over £2,600 a year.

Right now, the average rent for a new let sits at £1,283 a month – well over £100 more than the average mortgage payment of £1,154.

Why is this happening?

It's down to a perfect storm of more people needing to rent, not enough homes available and landlords not investing in new rental properties.

After the pandemic, a strong labour market and higher levels of people migrating here to work and study boosted demand for rental properties.

At the same time, mortgage rates soared, making it harder for first-time buyers to get on the housing ladder. Increased demand and limited availability pushed up rents.

Where have rents gone up the most?

Some of the biggest rent rises have hit towns that used to be more affordable. In Oldham, Wigan and Bolton, for example, rents have jumped by over 30% in just three years.

Here’s a quick look at some of the areas hardest hit:

Taking a toll on tenants

When mortgage rates went up, a lot of people worried about homeowners – and fair enough. But what’s been less talked about is how renters have been hit just as hard, if not harder.

The key difference? Homeowners are at least paying off a loan – even if it's expensive, their payments are going toward owning something. Renters are just paying to keep a roof over their heads. And for many, especially those on low incomes or benefits, the rises just aren’t sustainable.

The good news? Rent rises are slowing down

Zoopla says that rent increases are now the slowest they’ve been in four years. That’s because fewer people are moving for work or study, and more first-time buyers are managing to get on the housing ladder.

That said, rents are still going up – just not as fast. And for many renters, especially those on tight budgets, the damage is already done.

Help if you're struggling with rent

If rising rents are making it tough to keep up with your bills, you’re not alone – and there is help out there.

Every year, around £23bn in benefits and support goes unclaimed, according to figures from Policy in Practice. You might be missing out on help you didn’t even know you were entitled to.

If you’re on a low income, you could be eligible for things like:

• the housing element of universal credit or housing benefit
• discretionary housing payments (extra help from your local council)
• council tax support
• pension credit (if you're over state pension age)

The quickest way to check what you might be able to get is by using our free benefits checker.

And if you’re finding your income simply doesn’t cover the essentials anymore, get debt advice. We can help with budgeting and run you through the various types of support available. You may be surprised at just how much assistance is out there. Our advice is available both online and over the phone.