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Monthly rent by sector

Monthly rent by sector in London and England (2020/21)

Rent is much more expensive in London than in the rest of England. This can be seen most acutely in the private rented sector, where the median monthly rent for a one-bedroom home in London was £1,200 in 2020/21 in the capital and £680 in the rest of the country. At £690 per month for affordable housing and £430 for social rent, non-market tenures are cheaper than the private sector. They are, however, still more expensive in London than in the rest of the country.

Private rents have increased significantly since the financial crisis in 2008, rising by 32% in London, after taking account of inflation. This is faster than the 25% rise in rents seen in the rest of England. Social rents were increasing at a similar rate until 2016, but have diverged from private rents from this point.

The pandemic does not appear to have these long-term trends, except in the case of social rents in London, which increased slightly above inflation after several years in decline.

Social and private market real terms rents in London and England, indexed to 2008 (2008-2021)