Rental rates in London have experienced a yo-yo effect during the past 18 months. They dipped strongly at the height of the pandemic as everyone fled for the countryside, but are now bouncing back up. But how do things stand now? Where’s the best place for average rent London residents can find? Equally, now that prices are winding back up, where are the most expensive rental prospects to be found?
Let us take you through the highs and lows of the London rental market. Our comprehensive list will show you exactly where the most likely hotspots are for lower rent in London, and where the big hitters are.
What is this list based on?
The following list ranks all 32 of London’s boroughs (plus the City of London) by their median monthly rental rate, from the most expensive to the least.
The data is drawn from London.Gov’s London Rental Map. This is a great resource that is updated every quarter and its findings are published annually. The most recent update was March 2021.
We’ve used the average rental rate for two-bedroom properties. This was by far the most common type of rental recorded in practically every borough.
Average rent London borough rankings
Okay, let’s do this. Which London boroughs offer the best average rent? Which one tops the charts for affordability, which ones are solidly reasonable, and which are eye-wateringly steep?
33: Kensington and Chelsea
Average rent: £2708 per month
The average rent in Kensington and Chelsea is currently £2,708 per month. This is hardly surprising, given that London’s most expensive street is in this ultra-desirable borough, along with many of the capital’s most exclusive homes.
A typical Chelsea street
32: Westminster
Average rent: £2659 per month
Westminster gives renters an average of £2659 per month. This is a popular area for politicians, well-to-do lawyers, actors and other socialites to find rental pads.
31: Camden
Average rent: £2167 per month
Camden offers a monthly rental average of £2167. Camden is one of the coolest places in London, though sadly, coolness comes at a price.
30: City of London
Average rent: £1950 per month* (For one-bedroom properties. Not enough data for two-bedroom properties)
The City of London sports a monthly rental average of £1950. Being right in the heart of the city comes with an understandable high monthly rental bill.
29: Hammersmith and Fulham
Average rent: £1850 per month
Hammersmith and Fulham currently has a monthly rental average of £1850. Smart, exciting, conveniently placed, this is the borough that all the well-heeled young professionals want to be in.
28: Islington
Average rent: £1846 per month
In Islington, you’ll find rents averaging at around £1846 per month. Highly desirable due to its excellent nightlife, dining, theatre and retail offerings, Islington’s rental market is pricey yet delivers on quality.
27-26: Tower Hamlets
Average rent: £1750 per month
Tower Hamlets has a monthly rental average of £1750. You might have expected this borough to be lower down, but Canary Wharf and St Katherine’s Docks are desirable and expensive enough to push its average rental rate much higher. Be aware that cheaper options below this point can easily be found outside these two areas.
27-26: Wandsworth
Average rent: £1750 per month
Tying with Tower Hamlets, Wandsworth has a monthly rental average of £1750. It also has a winning combination of excellent transport links, good schools and abundant green spaces, including scenic riverside spots. This makes it sought-after, and expensive.
25: Hackney
Average rent: £1725 per month
Hackney comes in at £1725 per month as an area-wide average for rent. Fast growing, smartening up while still retaining a bit of an edge, Hackney is one of those places that is successfully catching the next set of trends. This includes smartly designed rental developments.
24: Lambeth
Average rent: £1699 per month
Lambeth currently offers a monthly rental average of £1699. Here, you’ve got the bright lights of Southbank, and the buzz of Brixton. This is a tailor-made borough for young professional renters looking to make the most of London living.
23: Southwark
Average rent: £1650 per month
Southwark currently has a monthly rental average of £1650. It’s a borough that’s an architect’s dream. You’ve got the Shard, Tate Modern, Shakespeare’s Globe, and that just scratches the surface.
22: Richmond Upon Thames
Average rent: £1600 per month
Richmond upon Thames offers renters an area-wide average of £1600 per month. Tranquil riverside living, all with the convenience and bustle of the city close to hand whenever you want it. What’s not to like?
A stag in Richmond Park
21-19: Merton
Average rent: £1500 per month
In Merton, you can expect to find a monthly rental rate of £1500 on average. Accommodating to a fault, Merton serves up a good mix of quiet and lively areas that you can’t help but fall in love with.
21-19: Ealing
Average rent: £1500 per month
Ealing also has a monthly rental average of £1500. Diverse, well connected and full of hidden gems, Ealing is a solid renting prospect for anyone, from a young professional to a growing family.
21-19: Haringey
Average rent: £1500 per month
Haringey is another borough with a rental average of £1500 per month. It’s a culture-rich North London borough that offers affordability alongside pleasant village-style community living, plenty of greenery and good commuting links into the city centre.
18: Newham
Average rent: £1450 per month
Newham offers a monthly rental average of £1450. It’s a historic borough, combined with a retail offering that’ll suit any shopper, thanks to the likes of Westfield Stratford City.
17: Brent
Average rent: £1430 per month
Brent has an area-wide monthly rental average of £1430. Another up and comer, Brent is a good rental prospect due to its latest stage of comprehensive urban regeneration projects. One to watch.
16: Barnet
Average rent: £1400 per month
Barnet offers renters an average rate of £1400. If you want green space within walking distance from home, Barnet has 200 parks and 32,000 trees.
15-12: Greenwich
Average rent: £1350 per month
Greenwich currently offers a monthly rental average of £1350. You’d think that Greenwich would be more expensive to rent in, given its excellent location, tons of history and even a Unesco World Heritage Site. However, there are plenty of reasonable rental options to be found here.
15-12: Lewisham
Average rent: £1350 per month
Lewisham also has an area-wide rental average of £1350. It’s 10 minutes’ ride into central London and has plenty on its doorstep. Lewisham already has a big renter community, which keeps prices competitive.
15-12: Waltham Forest
Average rent: £1350 per month
Waltham Forest is the third of the boroughs on our list with a £1350 per month rental average. It’s gone from a favourite hunting lodge of Queen Elizabeth I, to a high-flying borough with a booming town centre.
15-12: Kingston Upon Thames
Average rent: £1350 per month
Kingston upon Thames is tied with three other boroughs at £1350 per month for its area-wide average rental rate. It’s another historic riverside borough with plenty to offer. It offers renters plenty of space but without the high prices of nearby Twickenham or Richmond.
11: Harrow
Average rent: £1325 per month
Harrow has a monthly rental average of £1325. Harrow is a good rental prospect for those looking to get a quieter London lifestyle but with plenty of excitement not too far away.
A leafy Harrow park
10-9: Enfield
Average rent: £1300 per month
Enfield offers a monthly rental average of £1300. A magnet for first-time buyers as well as renters, renting in Enfield is a great way to get an authentic North London experience while preparing to get your feet on the property ladder.
10-9: Hounslow
Average rent: £1300 per month
Hounslow offers renters an area average of £1300 per month as well. It is one of the best-connected boroughs in London. Chiswick also provides excellent options for local shopping and dining out.
8-7: Redbridge
Average rent: £1275 per month
Redbridge has a monthly rental rate average of £1275. Though it’s a sleepier, more sedate borough than most, Redbridge has its charms and makes for an easy 20-minute journey into central London.
8-7: Hillingdon
Average rent: £1275 per month
Hillingdon also offers a £1275 per month rental average for the area. It’s a good rental prospect now, before the Crossrail Project begins to drive prices up.
6: Bromley
Average rent: £1250 per month
Bromley has an area average rental rate of £1250. With a revitalised town centre, good schools, Bakerloo extension plans, and Crystal Palace Park, Bromely has plenty to recommend itself.
5: Barking and Dagenham
Average rent: £1200 per month
Barking and Dagenham offers renters a monthly rent of £1200 on average. The borough is experiencing a lot of private and public investment, which is bringing it up in many key areas. It’s lively, multicultural and increasingly confident in its future.
4: Croydon
Average rent: £1200 per month
Croydon has an area average rental rate of £1200 as well. It is ideal for commuters and is constantly reinventing itself. Today, Croydon is cool, inviting and uniquely artsy.
3: Sutton
Average rent: £1175 per month
Sutton offers renters an average rate of £1175. It is one of the safest boroughs in London, and the third cheapest to rent.
2: Havering
Average rent: £1120 per month
Havering has a monthly rental rate average of £1120, making it the second cheapest London borough in which to rent. It’s another tranquil, green and open borough that straddles the urban and rural parts of North East London.
1: Bexley
Average rent: £1100 per month
The average rent in Bexley is just £1100, making it the cheapest borough in London for renting. Sitting quietly on the border of Kent, Bexley gets the country/city lifestyle mix just right, giving excellent access to green spaces, good schools, access to the River Thames and a direct route into the heart of the capital.
We hope that this full list of the average rent London boroughs typically offer will be useful in your hunt for the ideal rental property. If you want to refine your search in a borough or wider London area, be sure to take a look at our specific area guides.
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