The cost of renting a home in the UK has reached nearly £1,000 a month as rent prices have risen at the fastest pace in 14 years. The average rent now stands at £995 a month after climbing by 11% over the last year, according to Zoopla.
The jump is being driven by a shortage of properties available to rent at a time when demand is soaring in city centres as students, office workers and international buyers make their return to urban areas post-pandemic.
But similar to house price s, the rental market remains highly localised with prices fluctuating areas across different parts of the country. In Greater Manchester, there are some boroughs where rental properties remain affordable, whereas others are much more extortinate.
Using the latest figures from Zoopla’s rental market report, here are the cheapest and most expensive areas of the region for tenants looking to rent a home.
Cheapest boroughs to rent a home
Along with being the most affordable borough to buy a home, Wigan is also the cheapest part of the region to rent. The average rent costs here are £606, but you can often find rental properties for even less than this.
A ground floor flat in Platt Bridge is currently up for sale for £425 per month. The rental home comes unfurnished but boasts a fitted kitchen with an oven, hob and extractor, a living room, two bedrooms and a bathroom with a shower.
Rochdale is the second cheapest borough to rent a home in Greater Manchester, with an average cost of £634.
You can rent a home for a cheap price here, such as this two-bed apartment for £550 a month which has an entrance hall, open plan lounge, dining area, modern fitted kitchen two bedrooms and a bathroom.
Bolton is one of the cheaper parts of the region to buy a home, and it is also one of the more affordable areas to rent. The average rent costs in the borough are £641, but there are a variety of properties to let for less.
This one-bed unfurnished flat is listed by estate agents as ‘ready to move into’ and is available to rent for a bargain price of £380 per month. The accommodation is self contained and situated within walking distance of Bolton town centre and its amenities.
Also on the cheaper end of the rental market is Oldham, where a typical property costs £644 to rent. Available to let for an even cheaper price of £475 per month is this studio apartment which comes fully furnished.
Situated close to the town centre, estate agents say the flat offers a great space for professionals working in the area.
The fifth most affordable borough to rent a home is Tameside, where the average rent cost is £688.
You can rent this two-bed terrace house for £550 per month here, which has been recently redecorated and ‘ideal for professionals and couples’ with a lounge and dining kitchen, two bedrooms and bathroom.
Most expensive boroughs to rent a home
On the pricier end of the region’s rental market is Bury, where the average home costs around £736 to rent. You can however rent some apartments here for much cheaper, such as this one-bed apartment listed for £575 per month.
The first-floor flat has been recently refurbished and is in close proximity to local amenities within Bury town centre. The apartment has an open-plan kitchen and living area, one bedroom and an en-suite shower room.
In the Stockport borough, renting a home is much more expensive, with the average rent costing £830 per month for a standard home. With prices slightly higher here, you can let a one-bed apartment like this one in the region of £675 a month.
et on the lower ground floor of a detached period home in the heart of Heaton Chapel, the flat has a hallway, spacious lounge, modern kitchen with a breakfast bar, double bedroom and bathroom.
Like anywhere, there are cheaper and more expensive parts of every borough. But despite having some areas where house prices are low, rent costs are high across the borough.
You can expect to let a standard property in Salford for around £864 per month on average. This studio flat is up for rent for £695 in Salford Quays, which comes with a pull down double bed area, open-plan lounge and kitchen with a modern bathroom.
Rent costs in Manchester are one of the highest in the region, mainly because of the increasing prices to rent a flat or apartment in the city centre. The average rent is now £944 in the Manchester borough.
This one bed flat is avalable to rent in the Northern Quarter, for a bit of a cheaper price of £797 a month. It has an open-plan kitchen, living and sleeping area with a separate bathroom and has been designed with stylish decor.
Trafford is Greater Manchester’s most expensive borough to buy a home, so it is no surprise that its also the most unaffordable place to rent.
The average rent cost in Trafford is now £946, and although there are some parts of the borough where you can rent for much cheaper, there are also some extortionate areas.
This apartment in Altrincham is available to rent for £800 per month, and comes with one double bedroom, a modern kitchen, living area and fitted bathroom.