The cost of renting in the UK has reached eye-watering levels – especially for those looking to live alone.Analysis of over 13,000 tenancies by property technology company Goodlord has revealed living alone costs UK renters nearly 40% of their salary.
According to the data, the average cost of renting alone in the UK stands at £750 a month, jumping to a staggering £1,250 for those in London. This compares starkly to a £500 per month average for those who share a property with one other person, dropping to £469 a person if there are three people sharing. And in London, buddying up with one housemate will reduce the cost of rent to £750 a month, falling to £623 if there are three housemates. Almost a third (28)% of renters across the UK opt to live alone, with an average age of 32. Goodlord found the median income of this group is £25,000, meaning solo-renters spend over a third (36%) of their income on rent.