Cheapest Areas to Rent in London in 2022

How You Can Find Cheapest Areas To Rent In London

London is renowned for its expensive prices, which make it difficult to climb the ladder to homeownership. Renting is becoming more popular throughout the UK. However, it isn’t the cheapest option when you live in a city.

As per the Valuation Office Agency, the median rent for London in 2022 is around £1,804 per month, while the average rent in UK is £1,091 per month. This is nearly double the median rent in United Kingdom and is currently in the process of increasing. The rents in year 2022 have increased by approximately 14.2% compared to 2021 in London. At the same time the rents in the rest of the country have increased by 9.5%. Bexley is the most affordable area to reside in London, where the current average rent is just £1100 per month.

To make the transition easier, we’ve put together an inventory of the most affordable locations for renting within London and will help you find the best locations that fit your budget. Living in London does not have to be as expensive as it appears. To make London relocation as effortless as possible, you can go through the top rental properties in London and locate the ideal house for you.

The 10 Cheapest Areas to Rent in London in 2022

10. Lewisham

Lewisham’s total asking rent is comparatively more than other cheap boroughs, however, they are currently asking for rent of £2,410 pcm, which means £602.50 per individual as long as there is a person in each of the rooms. If you’re considering a house-share, it could be the right option for you. From stylish high-rise apartments to homes in suburban areas, Lewisham has plenty to provide and is just 51 minutes from London by an automobile.

Property Type Current Asking Rent (pcm) Asking Rent Per Person (pcm)
1-bedroom flat £1,077 £1,077
2-bedroom flat £1,548 £774
3-bedroom flat £2,051 £683.67

9. Waltham Forest

It is easy to access as it provides an easy access to Underground. A variety of bus routes also help Waltham Forest to stay well connected to the London City Centre. The most affordable apartment is in Walthamstow, though there are larger Victorian homes in Epping Forest. If you are looking for a house with four bedrooms located in Waltham Forest, you can expect a rent of £2,215 per month, however, when you split it among other people that amounts to £553.75 per person.

Property Type Current Asking Rent (pcm) Asking Rent Per Person (pcm)
1-bedroom flat £1,064 £1,064
2-bedroom flat £1,415 £707.50
3-bedroom flat £1,681 £560.34

8. Hillingdon

If you are looking for a house with four bedrooms located in Hillingdon, you can expect an average asking price of £2,018 per month, which is £504.50 per household. The second most populous London Borough, Hillingdon’s biggest and most well-known attraction is Heathrow Airport, allowing residents to travel further. It ranges from Victorian and Edwardian houses to maisonettes to modern homes. There’s plenty to pick from in Hillingdon.

Property Type Current Asking Rent (pcm) Asking Rent Per Person (pcm)
1-bedroom flat £966 £966
2-bedroom flat £1,365 £682.50
3-bedroom flat £1,587 £529

7. Redbridge

A little further away, with less than one hour of car ride to London, Redbridge is the second cheapest region to rent on our list. With excellent schools and ample green areas, it’s an ideal place for families seeking to rent. The current asking price for a three-bedroom home is £1,630 per calendar month, while four-bedroom houses come with an asking price of £2,014 per calendar month.

Property Type Current Asking Rent (pcm) Asking Rent Per Person (pcm)
1-bedroom flat £952 £952
2-bedroom flat £1,350 £682.50
3-bedroom flat £1,570 £523.34

6. Bromley

The most sought-after area for young renters, Bromley is among the most affordable places for renting in London when you live in a shared space with other tenants. Bromley offers a wide range of properties that are Shared Ownership along with a variety of available houses. If you live in a house with three bedrooms they are rented out at £791 per calendar month to each person. While for homes with four bedrooms renting per person is £522 pcm.

Property Type Current Asking Rent (pcm) Asking Rent Per Person (pcm)
1-bedroom flat £917 £917
2-bedroom flat £1,294 £917
3-bedroom flat £1,543 £514.34

5. Sutton

With highly rated schools, a bustling main street and excellent transport connections, Sutton is well-connected with an easy 30-minute drive to London Victoria. Sutton is also on our list of top London neighbourhoods that are ideal for first time buyers looking for cheapest and safest places to live in London. With four bedrooms and an asking price of £2,107 per month, you could expect to pay £526.75 per person if you opt to live in a shared ownership.

Property Type Current Asking Rent (pcm) Asking Rent Per Person (pcm)
1-bedroom flat £926 £926
2-bedroom flat £1,260 £630
3-bedroom flat £1,663 £554.34

4. Barking and Dagenham

Another affordable borough for renting in London is Barking and Dagenham. This borough offers four-bedroom homes with the asking price of £1,799 pcm, which indicates that you’d only spend £449.75 pcm per person. From modern apartments to traditional terraced houses, there’s an extensive selection of different types of homes to pick from, with the majority of residents choosing to rent.

Property Type Current Asking Rent (pcm) Asking Rent Per Person (pcm)
1-bedroom flat £999 £999
2-bedroom flat £1,247 £623.50
3-bedroom flat £1,467 £489

3. Croydon

Another location that is popular with younger renters, Croydon provides 4-bedroom homes with a rent asking of £2,068 per month, which means you will pay around £517 per month. Croydon is among the cheapest places for renting within South London, especially for groups that split the cost of the rent.

There’s an array of house types in Croydon that range from contemporary flats within residential towers to huge detached homes and Victorian cottages. It is guaranteed that you will find the perfect house for you. It is also easy to commute to London from here as it is just a 20 minutes train ride to London.

Property Type Current Asking Rent (pcm) Asking Rent Per Person (pcm)
1-bedroom flat £917 £917
2-bedroom flat £1,315 £657.50
3-bedroom flat £1,538 £512.67

2. Havering

With four bedroom houses at the current asking price of just £1,875 per month, you can certainly save more pounds in Havering. It’s a quick 1 hour 10 minutes drive towards London City Centre, making it an ideal area for people who commute daily. It is also easy to board trains from this area.

Havering is famous for its wide range of eateries and delicious food. It also has a bustling high street that mixes well-known brands with local shops. There’s a variety of schools available for people with families. With an array of green spaces open to the public and parks, it’s the capital’s greenest area, making it ideal for those who love nature or people with pets.

Property Type Current Asking Rent (pcm) Asking Rent Per Person (pcm)
1-bedroom flat £863 £863
2-bedroom flat £1,152 £576
3-bedroom flat £1,308 £436

1. Bexley

No. 1 on our list, Bexley is currently the most affordable borough to rent within London with one-bedroom apartments averaged at £823 per month. An ideal location for those who want to relocate to London with a limited budget. There are numerous houses to choose – ranging from small apartments to massive period houses.

If you are thinking of commuting, Bexley is a 47-minute journey via car, or you can board a train at Bexley Railway Station to arrive in the city in just 30 minutes. For those seeking larger houses, the price for homes with 4 bedrooms in Bexley is £2,025 per month which is equivalent to £506.25 per month for each person.

Property Type Current Asking Rent (pcm) Asking Rent Per Person (pcm)
1-bedroom flat £823 £823
2-bedroom flat £1,119 £559.50
3-bedroom flat £1,191 £397

Where to Rent in London

GoHodophile has come up with an inventory of the 10 most affordable areas that rent out in London. Prices can vary according to the exact location of the property along with other variables. However, the areas we’ve discovered are currently the most affordable renting spaces in London and are ideal for people who are looking to relocate within an established budget.

Area in London Overall Average Asking Rent (pcm) Average Asking Rent for 1-Bedroom Flat (pcm)
Bexley £1,155 £823
Havering £1,297 £863
Croydon £1,219 £917
Barking and Dagenham £1,260 £999
Sutton £1,315 £926
Bromley £1,361 £917
Redbridge £1,397 £952
Hillingdon £1,410 £966
Waltham Forest £1,465 £1,064
Lewisham £1,469 £1,077
     

All information has been extracted from Zoopla up to April 2022.