Private Renters Spending £11bn More Than They Can Afford On Rent

England’s private renters are paying out £11 billion more a year on rent than they can afford – or an average of £425 a month per household among those who are overspending – new research by Shelter shows. Using the widely accepted measure of affordability which says rent should take up no more than 30% of household income, the charity calculated the overspend by comparing government data on private rents and incomes. Hugely unaffordable rents are dominating daily life for millions of people, forcing them to rely on costly credit cards or borrow what they can from family and friends. Read more on 24housing.

https://www.24housing.co.uk/news/private-renters-spending-11bn-more-than-they-can-afford-on-rent/