Over the past five years, rental prices across the UK have soared, creating a noticeable divide between cities. St Albans, located just outside London, now holds the title of the most expensive city to rent outside the capital. Tenants there face an average rent of £2,307 per month, a staggering 71% above the national average. On the other end of the spectrum, Carlisle offers some the lowest rental prices in the country, with tenants paying an average of £791 per month, which is 41% below the national average. This leaves a striking rental gap of over £1,500 between the most and least expensive cities.
In Lancaster, a city known for its prestigious university, the average rent currently stands at £763 per month. This figure places it below even Carlisle, making Lancaster one of the most affordable places to rent in the UK despite being a top student hub. For students and young professionals alike, Lancaster offers a balance of quality education and low living costs, making it an appealing option compared to pricier university cities.
The affordability of cities like Lancaster and Carlisle contrasts sharply with the rental boom seen in other parts of the country, though it’s interesting to note that rental prices have still jumped by over 40% in lower-priced rental areas over the past five years.
This growing rental divide across the UK not only impacts students and professionals but is also reshaping how people live, work, and study, with affordability becoming an increasingly critical factor in their decisions.
What are your views on the rental market? If you would like to talk about the Lancaster rental market further, please get in touch. At JDG we are here to help.
Thanks for reading
Josh
