Stoke-on-Trent is the cheapest city for rent according to new data, whilst London is the most expensive
Analysis reveals that Stoke-on-Trent is the cheapest city in the UK to rent an apartment with tenants paying £489.22 a month on average.
Bradford and Sunderland are the second and third most affordable cities for tenants.
London, Brighton and Oxford are the most expensive cities in the UK to rent an apartment
Stoke-on-Trent offers tenants the most affordable rent costs for an apartment new data can reveal, while London takes the top spot for being the most expensive city.
The research by financial experts TheAdvisorCoach analysed the most populated cities in the UK and used data from Numbeo to find where tenants can rent an apartment at the lowest cost. The analysis was based on prices for one bed apartments and three bed apartments both in the city centre and outside of the city.
The study revealed that Stoke-on-Trent is the most affordable city for tenants, with an average cost of £489.22 per month. Stoke-on-Trent offers tenants the lowest apartment prices in any city when it comes to a one-bedroom apartment outside of the city centre at £376.67 and a three-bed apartment in the city centre costing only £593.33 as a monthly average.
Bradford came in second with the average cost of an apartment to rent being £537.95 per month. The Yorkshire city offers low prices on many different types of apartments such as an average monthly rent of £443.12 for a one-bedroom in the city centre, the lowest in the UK. Bradford also has the third most affordable monthly rent for a three-bedroom apartment in the city centre with an average cost of £692.14.
Blackpool had the second lowest rent cost for a three-bed apartment in the city centre, priced at £691.67 a month, while Wigan had the third cheapest price for a three-bed outside of the city centre, costing £550 a month.
The research found that Sunderland is the third most affordable city for tenants looking to rent an apartment. The average cost of renting an apartment in Sunderland for a tenant would be £568.75, and it is the cheapest city in the UK for tenants looking for a three-bedroom apartment outside of the city centre with an average monthly rent of £525. The city can also offer tenants the third cheapest monthly rent price of £400 for a one-bedroom apartment outside of the city centre.
In contrast, London was revealed to be the priciest city for tenants to rent an apartment with an average total monthly rent of £2,100.69, over four times that of an apartment in Stoke-on-Trent. London had the highest cost for every form of apartment analysed in the study with a one-bedroom in the city centre having an average monthly rent of £1,685.32.
Brighton was the second most expensive city in the UK to rent an apartment. It has the second highest rent for a three-bedroom apartment both in the city centre and outside of it. A three-bedroom apartment in the city centre would set back tenants £2,150.88 a month on average while the same type of apartment outside of the city centre would cost £1.551.02 in monthly rent.
The analysis revealed Oxford as the third most expensive city in the UK for tenants to rent an apartment, setting a tenant back by £1,374.18 a month on average. Oxford had the UK’s second most expensive monthly rent price for a one bedroom apartment outside of the city centre, costing £943.75. The academic city also had the third highest rent price for a one bedroom in the city centre at an average of £1,090.45.
Commenting on the study, a spokesperson from TheAdvisorCoach said:
“This analysis is an eye-opener for those wishing to begin living alone or make a change to their living situation. There are many aspects that we can cut down on financially to save money and rent is no exception. This study offers a breakdown of the most cost-effective locations and styles, providing the best options for those looking to rent.”