It’s no secret that living in London can be incredibly expensive. Sure, we may love rounding up all of the great cheap eats the city hides and bragging about how much free stuff London has. But there’s an inescapable truth that we simply can’t escape: rent prices in London are incredibly high.
In fact, just over the last five years, rent in London has gone up by a whopping 37%. In real figures, that means that the average amount people are paying (just to rent a room, not for individual flats!) is a staggering £995 per month.
But what if we break that information down by postcode? After all, as we know from primary-level maths, average means that there are greater and smaller amounts being paid across the city. Taking the top spot for cheap rent is E12, aka Manor Park. Here, an average room will run you just £721 a month.
On the other end of the spectrum, with the most expensive average rent, is WC2, the central part of London that comprises the Strand and Holborn. Here, the average rent for one room (again, I stress, ONE ROOM) is £1,674. Per month! That’s well over double the rental prices in Manor Park!
Most expensive average rent in London
Okay, so The Strand and Holborn took the top spot. That pretty much makes sense. After all, to live that close to the West End and central London is going to cost a pretty penny. But London is home to plenty of other pricey postcodes.
Whether you’re looking for a bougie new place to live – with rent prices to match – or are trying to steer clear of extortionate prices, these are some of the most expensive postcodes to live in London:
- WC2 (Strand/Holborn) – £1,674
- W1 (West End/Soho) – £1,504
- SW7 (South Kensington/Knightsbridge) – £1,498
- W8 (Holland Park) – £1,469
- SW3 (Chelsea) – £1,355
- WC1 (Bloomsbury/High Holborn) – £1,307
- SW10 (West Brompton/Chelsea) – £1,283
- W2 (Bayswater/Paddington) – £1,281
- SW1 (Westminster/Belgravia/Pimlico) – £1,268
- SW5 (Earl’s Court/West Brompton) – £1,258
Cheapest average rent prices in London
Okay, but what about the other end of the scale? Where should you be looking for affordable places to live in the capital? After all, we can’t all very well afford to live in Notting Hill or Hackney Central (much as we may want to). These postcodes boast the lowest average rent prices in London:
- E12 (Manor Park) – £721
- E6 (East Ham) – £759
- N9 (Lower Edmonton) – £788
- E4 (Chingford) – £799
- SE2 (Abbey Wood) – £804
- SE12 (Lee) – £808
- E10 (Leyton) – £812
- E7 (Forest Gate) – £814
- N18 (Upper Edmonton) – £818
- N22 (Wood Green) – £820
Check out the average rent in every London postcode here.