Rental rates in London have experienced a yo-yo effect throughout the pandemic. They dipped strongly at its height in mid-2020, as everyone fled for the countryside, and then bounced back. 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 June 2022.
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 rankingsOkay, 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 ChelseaAverage rent: £2600 per monthThe average rent in Kensington and Chelsea is currently £2,600 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 street32: WestminsterAverage rent: £2578 per monthWestminster gives renters an average of £2578 per month. This is a popular area for politicians, well-to-do lawyers, actors and other socialites to find rental pads.
31: City of LondonAverage rent: £2299 per monthThe City of London has had one of the biggest yo-yo effects in rental pricing, crashing by over 12-20% in 2020, and then rocketing back up in late 2021. Currently, the ‘Square Mile’ sports a monthly rental average of £2299. Being right in the heart of the city comes with an understandably high monthly rental bill.
30: CamdenAverage rent: £2000 per monthCamden offers a monthly rental average of £2000. This represents a drop of about £160 from early 2022. Still, Camden is one of the coolest places in London, though sadly, coolness comes at a price.
Few places in the capital ooze cool like Camden. This popular Borough covers a large area but is more recognised for Camden Town. Its gritty, bohemian vibe has long-drawn a mesmerising mix of characters, from free spirits to punks, goths to rockers. And there Read more about Borough of Camden
29: IslingtonAverage rent: £1885 per monthIn Islington, you’ll find rents averaging at around £1885 per month. This is roughly where they were in early 2022. Highly desirable due to its excellent nightlife, dining, theatre and retail offerings, Islington’s rental market is pricey yet delivers on quality.
28: Hammersmith and FulhamAverage rent: £1850 per monthHammersmith and Fulham has crept up in recent months to a rental average of £1850. Smart, exciting, and conveniently placed, this is the borough that all the well-heeled young professionals want to be in.
27: WandsworthAverage rent: £1850 per monthWandsworth also has a monthly rental average of £1850, a major increase since last year. 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.
26: SouthwarkAverage rent: £1700 per monthSouthwark currently has a monthly rental average of £1700. 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.
Southwark is nestled on the South Bank of the Thames, and among its luxury riverside apartments and ultra-modern offices, are some of London’s biggest icons. This area is rich in culture, architecture and entertainment, charming millions of visitors (and residents) each year. For the Read more about Borough of Southwark
25: Tower HamletsAverage rent: £1668 per monthTower Hamlets has a monthly rental average of £1668. You might have expected this borough to be lower down the list, 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.
24: LambethAverage rent: £1658 per monthLambeth currently offers a monthly rental average of £1658, a slight bump up of around £50 from 2022. 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: HackneyAverage rent: £1650 per monthClose to Tower Hamlets and Southwark, Hackney comes in at £1650 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.
22: Richmond Upon ThamesAverage rent: £1625 per monthRichmond upon Thames offers renters an area-wide average of £1625 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?
21: NewhamAverage rent: £1597 per monthNewham offers a monthly rental average of just under £1600. It’s a historic borough, combined with a retail offering that’ll suit any shopper, thanks to the likes of Westfield Stratford City. Be aware that rental rates are on the rise here, up around £100 from early 2022.
A stag in Richmond Park20: HaringeyAverage rent: £1517 per monthHaringey offers a rental average of £1517 per month, which is roughly the same as last year. 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.
19: MertonAverage rent: £1500 per monthIn 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.
18: EalingAverage rent: £1495 per monthEaling has a monthly rental average of £1495. Diverse, well connected and full of hidden gems, Ealing is a solid renting prospect for anyone, from a young professional to a growing family.
17: GreenwichAverage rent: £1400 per monthGreenwich currently offers a monthly rental average of £1400. You’d think that Greenwich would be more expensive to rent in, given its excellent location, tons of history and even the presence of a Unesco World Heritage Site. However, it turns out that there are plenty of reasonable rental options to be found here.
It may be just a few miles from Central London; but emerald-hued Greenwich can feel a world away from the buzz of the capital. This south-east slice sits close to the River Thames looking out towards Canary Wharf, and is blanketed in green. A Read more about Borough of Greenwich
16: BrentAverage rent: £1400 per monthBrent also has an area-wide monthly rental average of £1400. Another up and comer, Brent is a good rental prospect due to its latest stage of comprehensive urban regeneration projects. One to watch.
15: BarnetAverage rent: £1400 per monthBarnet is another borough that offers renters an average rate of £1400. If you want green spaces within walking distance from home, Barnet has 200 parks and 32,000 trees. Food for thought, and space for roaming!
14: HarrowAverage rent: £1350 per monthHarrow has a monthly rental average of £1350. Harrow is a good rental prospect for those looking to get a quieter London lifestyle but with plenty of excitement not too far away. Rents have dropped around £100 from 2021 too!
13: LewishamAverage rent: £1350 per monthLewisham also has an area-wide rental average of £1350. It’s a 10-minute ride into central London and has plenty on its doorstep. Lewisham already has a big renter community, which keeps prices competitive.
Lewisham lies just a few miles south-east of Central London. A borough given a little more than just a fresh coat of paint in recent years. In fact, this area has seen plenty in the way of renovation. Including, a transformation of the town Read more about Borough of Lewisham
12: Waltham ForestAverage rent: £1350 per monthWaltham 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.
11: Kingston Upon ThamesAverage rent: £1350 per monthKingston upon Thames is tied with the other boroughs at £1350 per month for its area-wide average rental rate. It’s another historic riverside borough with plenty to offer. It gives renters plenty of space but without the high prices of nearby Twickenham or Richmond.
10: HounslowAverage rent: £1350 per monthHounslow is the fifth and final borough to offer renters an area average of £1350 per month. It is one of the best-connected boroughs in London. Chiswick also provides excellent options for local shopping and dining out.
A leafy Harrow park9: EnfieldAverage rent: £1325 per monthEnfield offers a monthly rental average of £1325. 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.
8: BromleyAverage rent: £1310 per monthBromley is a hair cheaper at an area average rental rate of £1310. With a revitalised town centre, good schools, Bakerloo extension plans, and Crystal Palace Park, Bromely has plenty to recommend itself.
Bromley is the largest of the 32 London boroughs, stretching from Crystal Palace and Mottingham in the north right down to Biggin Hill in the south. It’s also a borough that transitions dramatically from suburban to rural, with farmland making up around 30% of Read more about Borough of Bromley
7: RedbridgeAverage rent: £1300 per monthRedbridge has a monthly rental rate average of £1300. 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.
6: Barking and DagenhamAverage rent: £1300 per monthBarking and Dagenham also offers renters a monthly rent of £1300 on average, having jumped up about £100 since last year. 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.
5: CroydonAverage rent: £1250 per monthCroydon has an area average rental rate of £1250 as well. It is ideal for commuters and is constantly reinventing itself. Today, Croydon is cool, inviting and uniquely artsy.
There are two great reasons to live in Croydon, these go hand in hand to make it a compelling choice; its relatively cheap property prices and its excellent transport links into Central London. On top of that, numerous initiatives are transforming Croydon and helping Read more about Croydon
4: HillingdonAverage rent: £1225 per monthHillingdon also offers a £1225 per month rental average for the area. It’s a good rental prospect to secure now, ideally before the Crossrail Project begins to drive prices up further.
3: SuttonAverage rent: £1225 per monthSutton was the cheapest rental borough for years, but has recently jumped up to an average rate of £1225. This is still highly competitive, and Sutton is also one of the safest boroughs in London, which makes it a haven for families and a magnet for new investment in high-quality homes and a growing range of independent stores. There’s also a good range of green spaces – a hangover from Sutton’s history as being part of Surrey before officially joining London in 1934. Now, with its cosmopolitan vibe, increased confidence and increasingly smart yet affordable housing developments, Sutton has really found its feet… without charging an arm and a leg!
Sutton is a hugely popular commuter spot for young families seeking more space outside central London areas. Excellent schools add to its appeal, alongside plenty of open green spaces and good value homes. The town of Sutton offers a great selection of family homes, Read more about Borough of Sutton
2: BexleyAverage rent: £1200 per monthThe average rent in Bexley is still £1200. This pushes it up to second place. 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.
1: HaveringAverage rent: £1195 per monthHavering has a monthly rental rate average of £1195, plummeting from the highs of around £1400 in 2021. This makes it the cheapest London borough in which to rent. It’s a tranquil, green and open borough that straddles the urban and rural parts of North East London. Firmly competive with lots to recommend itself, this is a must-see borough for renters looking for a great deal!
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.
HomeViews provides verified resident reviews of the UK’s housing developments. We’re working with developers, house builders, operators, housing associations and the Government to recognise high performers and help improve standards in the built environment.