One-third of tenant income goes towards rent, as average rents rise by 4.3%, report finds
Lomond found that the average rent across the UK now sits at £1,369 per calendar month (pcm), increasing by 4.3% from the same period last year.
Tenants spend nearly a third of their income on rent, according to the latest findings from Lomond’s Summer 2026 Quarterly Insights Report.
The report also found that the average rent across the UK now sits at £1,369 per calendar month (pcm), increasing by 4.3% from the same period last year.
London maintained its command of a significant premium, with average rents now standing at £2418pcm, a staggering 76% higher than the UK average.
Elephant & Castle was one of the Capital’s strongest-performing lettings markets, with new-build developments achieving record rents amid sustained demand from overseas renters, students and young professionals.
According to Goodlord and LomondIQ data, the average UK renter is 31.5 years old, with Scotland standing out as home to the youngest renters in the UK, with an average age of just 25 due to the large student population.
The data also revealed that London has the largest volume of tenancies created in the last year.
The number of tenancies agreed in Kent has increased a startling 121%, with family housing continuing to lead demand.
Two- and three-bedroom properties also remained appealing to renters across the region.
Kent has also seen its average rents increase 5% compared to the same period last year, according to the report from Lomond.
The North West and Yorkshire regions have also seen average monthly rents increase by 5%, to £1215 and £1283 respectively.
John Ennis, chief revenue officer, Lomond, said: “Our insights report shows that the rental market remains resilient, but affordability continues to be a key consideration for many households.
“With tenants now spending almost a third of their annual income on rent, the importance of delivering well-managed, high-quality homes in the right locations has never been greater.
“What we’re seeing across the UK is not a slowdown in demand, but a shift in renter priorities, with tenants increasingly focused on long-term value.”
He added: At the same time, landlords are adapting to a changing regulatory landscape, with the Renters’ Rights Act encouraging a greater emphasis on sustainable, long-term tenancies.
“Success in this market is no longer simply about filling a property quickly, but matching the right tenant with the right home and creating tenancies that work for everyone involved.
“What remains consistent is a continued appeal for high-quality rental accommodation in locations that offer a compelling balance of affordability, connectivity and lifestyle.”
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