The Cambridgeshire area where single people struggle to rent homes on their own
The cost of renting a home is on the rise in Cambridge, with single-income households really feeling the pinch. The average cost of renting a home in the city has risen by £137 a month over the last year, with typical rents now standing at £1,715 a month.
Finding an extra £137 each month can be a tough ask for any renters, but it’s particularly hard for those with just a single income coming in. But one area of Cambridgeshire sees higher rents than the rest.
Figures released by the Office for National Statistics (ONS) earlier this month showed that 34.2 percent of the average household income in Cambridgeshire goes on rent. However, household income takes into account all salaries coming into the household, so for couples where both of them work, this will be two salaries.
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It means things are much tougher for those having to survive on a single income, be that on their own or as part of a couple. Cambridge’s average rent now works out as 46 percent of the average individual full-time worker’s salary - making the area a difficult place to live in if you are single.
That’s above the national average of 42 percent and is one of the highest rates outside of London. Things are a little better for those with a one-bed property, with their average rent working out as 32 percent of the average full-time salary, while a two-bed is 41 percent.
Elsewhere in our county, more than a third (36 percent) of the average full-time salary of someone living in South Cambridgeshire goes on the average rent there. The cost of renting in the local authority has increased by £97 a month over the last year.
East Cambridgeshire and Huntingdonshire are the next least affordable places for people living on a single average full-time income, with rent making up 32 percent of salary. In Peterborough rent makes up 31 percent of the average full-time salary, while in Fenland it’s 27 percent.
So, there are cheaper places to live in the county if you are living on your own. However, if you are single, it might make more sense to avoid Cambridge.