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Monthly rent by sector

Monthly rent by sector in London and England (2022/23)

Rent is much more expensive in London than in the rest of England, across all sectors.

A one-bedroom home in the lower quartile of the private market (i.e. a property that is more affordable than 75% of others in London) cost £1,100 in 2022/23 - compared to £560 in the rest of England.

The median monthly rent for a one-bedroom home in London was £1,280 in 2022/23 and £720 in the rest of the country. At £700 per month for affordable housing and £450 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 2009/10, rising by 31% in London, after taking account of inflation. This is faster than the 28% rise in rents seen in the rest of England. Social rents were increasing at a similar rate until 2015/16, but have decreased since then and have been below their 2009/10 rents since 2020/21 in London and 2021/22 in England.

The pandemic does not appear to have an impact on these long-term trends.

Social and private market real terms rents in London and England (2009/10-2022/23)