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Families now spend HALF their monthly income on rent
Posted By kurtnimmo On October 20, 2011 @ 7:21 am In Economic Crisis | Comments Disabled
October 20, 2011
Hard-up families are spending more renting their home than ever before, it has been revealed.
Figures released today show nearly half the average British family’s monthly income goes on renting their home.
The average rent has risen to £890 a month – 46 per cent of the typical tenant’s net income.
In London, rent accounts for more than three-quarters of average earnings. Landlords in the capital charge an average of £2,075 per month, while the typical household brings in £2,721 in net monthly income.
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