You might struggle to work and rent in one Merseyside borough but Liverpool is almost the cheapest in all of England
If you work in Knowsley and want to rent in the same borough you are going to struggle more than anyone else in Merseyside. The area is the least affordable place in the district to rent a property compared to the average wage.
Rental prices take up more than 30% of residents salaries every month in Knowsley.
This shows a rise of almost 5% over the last year.
A commonly used rule is not to spend more than 30% of your income on rent – not including other expenses such as bills.
Properties in Sefton came in second and also cost residents more than 30% of their monthly wage.
However rent prices on the whole in Merseyside are some of the most affordable in England.
And when comparing those prices with average monthly salaries in the area it reveals that average rents are more affordable.
Monthly rental prices for residents in Liverpool cost on average of 25% of their salaries.
If you compare these to prices in London, where residents in certain boroughs like Westminster can pay almost 75% of their wage on rent every month, then it makes for more promising reading.
The data, released by the Office for National Statistics, has also revealed St Helens and Wirral to be relatively affordable compared to the rest of the England with rents costing those living there 27% and 28% of their salaries respectively
If you would like to speak to one of our expert team about what this could mean for you please callus on 0151 256 0880 or email westderby@belvoir.co.uk
