The UK’s Private Rented Sector (PRS) often faces negative press, but recent government data paints a more balanced picture. According to the latest English Housing Survey and figures from the Office for National Statistics (ONS), many tenants continue to find renting manageable — and, in most regions, rents remain within affordable limits.
Below, we explore five key statistics that might challenge common assumptions about affordability in the PRS.
1. Are fewer private renters falling into arrears post-pandemic?
Despite cost-of-living pressures and rent increases in recent years, most tenants are keeping up with payments. In 2023–24, 95% of private renters had not fallen into arrears over the previous 12 months — a noticeable improvement from 92% in 2019–20.
This suggests that, while finances are stretched, many renters are still managing their housing costs responsibly.
2. How easy is it for renters to pay their rent today?
In the same period, 68% of tenants said it was “easy” to pay their rent. Although this is a slight drop from 73% in 2019–20, the majority of renters still feel their monthly payments are manageable — even with inflation and wider financial pressures.
3. How do private renters’ incomes compare across brackets?
While homeowners tend to occupy higher income bands and social renters the lower ones, private tenants are surprisingly evenly distributed across all income levels:
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20% are in the lowest income quintile
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24% in the second
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22% in the third
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20% in the fourth
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14% in the highest
Regional variation is clear — in London, 26% of private renters fall into the top income bracket, compared to 10% elsewhere in England. Interestingly, even 3% of social tenants are in the highest income group, showing how varied the rental market can be.
4. Are renters still able to save and plan for home ownership?
Encouragingly, many private renters continue to save with a view to buying their own property. Around 2.5 million renters expect to purchase a home in the future.
In 2023–24, over half of private renters (52%) reported having savings — a sharp rise from 33% a decade ago. Meanwhile, those without savings fell from 67% to 48%.
Among renters who plan to buy, 60% already have savings — most commonly between £5,000 and £15,999 (16%), while just 5% have less than £1,000 saved.
5. How affordable are rents across the UK?
The ONS defines “affordable” rent as spending around 30% of household income on rent. In 2024, the figures show:
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England: 36.3%
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Wales: 25.9%
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Northern Ireland: 25.3%
This means that renting is considered affordable in Wales and Northern Ireland, while England’s average looks higher mainly due to cities such as London, Bristol, and Bath. In fact, in most English regions outside the South East and South West, rents remain within or below the affordability threshold.
Thinking about your next step as a landlord?
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You can arrange a free appointment — face-to-face, by phone, or via video — with our trusted partner, Embrace Financial Services.
YOUR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.
Your initial mortgage appointment is without obligation. Embrace Financial Services normally charge a fee for their services; however, it is payable only on the submission of your mortgage application. The fee will depend on your circumstances but the standard fee is £599. Complex cases usually attract a higher fee. Embrace Financial Services will discuss and agree the fee with you prior to submitting any mortgage application.
Please be aware that the information provided within these archives has been pre-published, as of the date published on each article. The information contained within, including references to taxation, legislation, regulation, or any other issues or concerns may no longer apply.
The Your Move Content Marketing Team
