London rent as a percentage of gross pay

Date 1 September 2017
Date updated 20 April 2020

Rent for a one-bedroom dwelling as a percentage of London median gross pay, by London borough (2018/19)

To rent an average one-bedroom house or flat in London on the private market, someone on the median pre-tax pay in London would need to spend almost half (49%) of that pay. In contrast, they would need to spend less than a quarter (24%) for the average one-bedroom house or flat in England on the private market.

In every London borough, the average rent for a one-bedroom house or flat on the private market is at least 30% of median pre-tax pay in London. The average across the capital is that a one-bedroom dwelling cost the equivalent of half the gross-median pay in London.

The least affordable boroughs are Westminster and Kensington and Chelsea in the centre of London, requiring up to three-quarters of median pay to rent one-bedroom. Outer London boroughs including Bexley, Havering and Croydon have the lowest average rents of between 30% and 35% of earnings. In England as a whole, the average one-bedroom property is less than a quarter of average earnings.