People living alone spend two thirds of pay on rent

Young people who live on their own spend more than two thirds (69%) of their take home pay on rent, Landbay’s Rental Index has revealed.

For tenants aged 18-39 and living on their own 69% of their monthly post-tax income of £1,447 is spent on £1,012 of rent.

In a shared house of two they typically spent 39% on rent each.

John Goodall, chief executive and founder of Landbay said: “For intermediaries, this generation is the future of their client base, a generation who will face a tough financial journey.”

“Whether these millennial tenants are renting as a stepping stone on the way to home ownership – or in some cases choosing to rent for life – this generation are relying on a well-served buy-to-let market to ensure rental growth doesn’t become unbearable.

“What is now needed is some firm government commitment to improving standards, affordability and supply of rental properties.

“Institutional investment and the subsequent growth and professionalisation of the private rental sector are already helping control rental growth and improve living standards for renters, so we hope to see some clear plans outlined in this month’s party manifestos ahead of the General Election in June.”


Free Ad – Reach millions
Mortgages – From 0.99%
Tax – 9 Tax saving guides
Earn £250 to £2000 part time

mortgageMortgages - Find cheapest. Rates from 0.98%. 1st time buyers, remortgages, self-employed, adverse & CCJ, Landlord buy to let. Compare now

mortgageSell or Let Property FREE on Houseladder 0% no fees. Free property advertising. List 1 to 1000 properties to millions of buyers and tenants. Upgrade to a Premium advert for only £30 and sell or let your property FASTER! Create Ad

make-moneyMake Money - Earn £250 to £2000+ per month part time. Get paid every month for work you do once. Work from home. Flexible hours. Free training. No experience needed. Major UK PLC company. Find out how >>

taxHow To Save Property Tax - Updated Sept 2017 “How To Save Property Tax” is widely regarded as THE tax bible for property investors. The 21st edition has just been published (Sept 2017) and is completely up to date. Read now


Written by: Houseladder