Renters in Derby, Aberdeen and Coventry have the smallest relative monthly housing costs in Britain
The average income of two-income households in Derby is £4,250 per month. Meanwhile the average rent in the city is just £494.44, a mere 11.63% of the household’s income, according to data compiled by price comparison service comparethemarket.com.
At the bottom of the pile, unsurprisingly, is London where the average two-income household earns £4,096 but would face paying an eye-watering £1,735 in rent – or 42.35% of their income.
Other affordable cities include Aberdeen where households spend just 14% of their income on rent and Coventry where it’s just 15%.
At the other end alongside London are Brighton where renters pay 29% of income, and Milton Keynes where its 24%.
The research also highlights how much tougher the situation is for singles.
In London a single person would have to spend 85% of their income on average to rent a home on their own.
Indeed, the only cities where this figure is below 30% for singles is Derby (23%) and Aberdeen (28%).
The table below shows relative percentages of income spent in cities around the UK, organised by lowest percentage to highest.
|City||Monthly take-home salary (£)||Monthly household income (2 salaries) (£)||Average rent - city centre (£)||Percent of monthly household Income (%)||Percent of single take-home salary (%)|
Source: comparethemarket.com, July 2019
Centre is spelt “centre” not center, the pound sign should have given you a clue which country you are in.