Liverpool City Region an ‘affordable’ place to rent

Rental accommodation in the Liverpool City Region is generally affordable, new figures suggest.

A report from the BBC’s data unit suggests the majority of people in Merseyside are spending less than the recommended 30% of their income on rent.

The median annual gross salary is for Liverpool is said to be £24,986, while the average cost of a studio flat is £379 a month, a room in a shared property £336 a month, a one-bedroom property around £479 a month, and a two-bedroom home about £558.

Yearly income of £24,986 leaves £1,680 a month after tax and National Insurance contributions, £30% of which works out as £504.

The BBC’s data indicates that the Liverpool City Region falls outside of the UK’s rental hotspots, where tenants are typically spending more than 30% of their take-home salary on rent.

In total, 142 areas were identified as hotspots, with the problem said to be particularly prevalent in London and the South East.

Meanwhile, Salford, Trafford and Manchester city centre were the only areas in the North where average rent exceeds the recommended limit, highlighting a North-South divide.

About Author: YM Liverpool