Millennials Spend Over A Third Of Take Home Pay On Rent

According to the latest Landbay Rental Index, young tenants are spending a third of monthly take home pay on rent, with those in a three bed property spending 30% and those in a two bed spending 39%. Those attempting to live alone face spending over two thirds (69%) of monthly take home pay. For tenants aged between 18-39 and living alone, 69% of a monthly post-tax income of £1,447 is spent on £1,012 of rent. In a shared house of two people, overall rent of £1,152 adds up to 39% of each tenant’s income, while those co-habiting in a three-bed property would each spend 30% of their monthly take home pay on a rent of £1,322. Read more on the property reporter website.