The Lancashire postcodes with the most and least affordable rents

Renting a home is becoming increasingly unaffordable in parts of Lancashire, as wages fail to keep up with increasing prices.

It costs £726 a month on average to rent a home in Ribble Valley in the year to March 2024, according to the latest figures from the Office for National Statistics. That’s up by nearly a quarter (24.7%) from £582 in 2015.

The average full-time worker in the area earned £30,589 after tax last year. That’s up just 2.8% from £29,743 in 2014. It means rents are increasing at almost nine times the rate of wages in Ribble Valley, the largest disparity in our region.


The average rent in the area is now 28.5% of the typical take-home pay, up from 23.5% in 2015. Pendle has also seen rent prices increase far faster than wages.

The average rent in the area has increased from £437 a month in the year to March 2015, to £566 a month in March 2024. That’s an increase of 29.5%.

Take-home pay increased by just 5.9% in that time though to £22,000 a year. It means average rents now make up 30.9% of typical wages, up from 25.2% in 2015.

Meanwhile, the amount of take-home pay going on rent in Rossendale has increased from 28.2% to 31.7%.

You can see how rent affordability has changed over time in our region as well as in other parts of the country by using our interactive map:

Elsewhere, renting in some parts of Lancashire is becoming more affordable. Renting the average home in Preston cost £662 a month in the year to March 2024.

The average take-home pay is £26,590 a year. That means the average rent makes up 29.9% of the typical income, down from 34.1% in 2015.

In Blackpool, average rents make up 31.9% of the typical take-home pay, down from 35.8% in 2015. In West Lancashire the ratio has dropped from 32.4% to 28.4%, and in Burnley from 27.5% to 25.6%.

People in Great Britain spend more than half of their take-home pay on rent, as wages fail to keep up with soaring prices. It cost £1,246 a month on average to rent a home in Britain in the year to March 2024.

That’s up by 9.1% compared to the same time last year, and by 34.8% since March 2015, when the average home cost £924 a month to rent. Meanwhile, the average full-time employee earned an estimated £27,825 last year after tax and national insurance were deducted.

That’s up by 23.1% from 2014, when the average take-home pay was £22,597 for full-time workers. That’s almost 12 percentage points less than rents have increased by in that time. It means that renting the average British home now costs 53.7% of the typical take-home pay, up from 49.1% back in 2015.

The figures come from exclusive analysis of official earnings and rent price data by the Reach Data Unit. Take-home pay has been calculated by deducting income tax and national insurance from the median salary in each local authority, for each year from 2014 to 2023.