According to a recent study of the least affordable places to live, Oxford, Guildford and Winchester are again high on the list, as are several other University Cities.
On average both tenants and home owners can expect to spend 32.9% of their income on rent or mortgages. This new study compared average advertised salaries with average rental figures across the UK to formulate the latest lists of the most and least affordable places for renters to live.
London, as expected, is top of the list and there are some other familiar towns and cities where employees can expect to spend the largest proportion of their salaries on a place to live.
Milton Keynes 35.4%
High Wycombe 27.1%
The study assumes that the cost of monthly rent is equally split between two people sharing a home.
The smallest proportion of people’s salaries spent on rent using the same criteria in towns and cities is equally fascinating with noticeably more northern cities making the top 10 list.
= Rochdale 15%
= Derby 15%