Blog Post
Britain's renters
Tom Simper
Jun 14, 2024, 10:00 AM
The private rental sector now provides homes for 20% of all UK households, (30% in London), and it is growing year by year. As more people settle for longer in a rental home, the range of job roles has expanded too, as is clear from this analysis of job types.
30% of private sector renters have a professional job, pay an average monthly rent of £1,529 and earn an average of £46,000 pa. These include scientists, health workers, teachers, business, tech and law.
Renters working as managers or chief executives pay the highest monthly rents (average £1,688 pcm) but also have highest earnings with an average of £57,000 pa. The biggest increase in recent years is in 'Service and Sales' workers (19% up from 14% in 2020). This includes retail, hospitality and other service roles that were so badly affected during the pandemic.
Professionals dominate the rental market, service workers' demand is rising rapidly, and managers pay the highest rents. With a General Election soon, it will be important to keep a close eye on these trends to react to the evolving market in Britain. Source: #Dataloft Rental Market Analytics by PriceHubble (last 12 months), Census 2021.
Leave a comment