Rents rising fastest in poorest areas

People living in the poorest areas of the UK are facing the steepest rent increases, new analysis has shown.

Rents in the most deprived parts of the country have risen by 52% over the past four years. This compares to 29% in the most affluent areas, according to data from the estate agent Hamptons shared with the Observer.

How much people are paying

In 2019, renters in the poorest areas were paying an average of £499 a month. This has since risen to £759.

In comparison, renters in the wealthiest regions have seen average costs rise from £1,078 to £1,387.

Hamptons explained landlords in more deprived areas tend to rely more on mortgage finance. As mortgage costs have risen in line with inflation, those landlords have passed on the increases to their tenants.

In just one year, since 2022, people renting in the most deprived parts of the country have seen their monthly rent increase by an average of £97.

One payday away from losing their homes

A recent study by Shelter found half of all private renters in England wouldn’t have enough savings to pay their housing costs for more than a month if they lost their job.

If you’re struggling

If your landlord is looking to put your rent up, make sure you know your rights. Generally, they can only increase it once a year and the increase has to be reasonable. Find more information on your rights and what to do if you’re struggling to pay. 

You can also find budgeting tips and information on getting support if money worries are affecting your mental health in our blog on how to manage rising rents and mortgage interest rates. 

And why not use our free benefits calculator to check you’re not missing out on financial support you're entitled to.

If you’re on a low income or claim benefits, you may be able to get a council tax reduction of up to 100%. Check to see if you’re eligible.

Local councils have also been given a share of £842m to help families struggling with the cost-of-living crisis. Visit your local council’s website to see what’s available in your area.

And if you need free debt advice, we're here 24/7 online, or you can give us a call during our office opening hours. You may be surprised at the range of support that's available. Get in touch today.