The Greater Manchester areas where being single hurts renters the most
by Phoebe Jobling · Manchester Evening NewsThe cost of renting a home is on the rise across Greater Manchester, with single-income households feeling the affects the most. The average cost of renting a home in Manchester has risen by £129 a month over the last year, with typical rents now standing at £1,266 a month.
Finding an extra £129 each month can be a tough ask for any renters, but it’s particularly hard for those with just one income. Figures released by the Office for National Statistics earlier this month showed that 42 percent of the average household income in Manchester goes on rent.
However, household income takes into account all salaries coming into the household, so for couples where both of them work, this will be two salaries. It means things are much tougher for those having to survive on a single income, whether that be on their own or as part of a couple.
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Manchester’s average rent now works out at costing around 46 percent of the average individual full-time worker’s salary. That’s above the national average of 42 percent and is one of the highest rates outside of London.
Things are a little better for those with a one-bed property, with their average rent working out as 34 percent of the average full-time salary, while a two-bed takes up 42 percent.
Neighbouring Trafford has seen rents increase by even more. The typical home in the borough now costs £1,278 a month to rent, which is £151 more than 12 months prior. That works out as 39 percent of the average full-time salary for someone living in the area.
Rents are also up by £100 a month in Salford, and now work out at costing 37 percent of the local average full-time income. Renting in Stockport also now costs £129 a month more now than it did last year and works out as 32 percent of local salaries, while rents are also up by £100 in Bury and take up 30 percent of salaries.
(Image: Christopher Furlong/Getty Images)
How much of your income goes on rent depends very much on where you live. The average home in Manchester costs 7.7-times the local average full-time salary. In Trafford, however, the average home costs 9.8-times the average local salary.
Elsewhere in the country, London is the least affordable place to buy a home. The average house price in Kensington and Chelsea is 22.5-times greater than the average full-time salary of people that live there.
Westminster is next with the average house there costing 19.0-times the average local salary. That’s followed by Camden (18.3-times), Hammersmith and Fulham (15.4-times), and Brent (14.0-times).
Wychavon in the West Midlands is the least affordable place to buy a home outside of London and the South. The average home in the local authority costs 10.0-times the average local full-time salary.
Stratford-on-Avon is next at 9.9-times the average salary, followed by Trafford in Greater Manchester at 9.8-times.