The rental market in the UK has been busier than ever over the last few years. Tenants across the country have seen their rent costs rise as a result of a 'chronic imbalance' of supply and demand.
According to Zoopla, demand pressures have been worsened recently by rising mortgage rates making it harder for people to get on the property ladder, and therefore forcing more people to rent.
With high demand and a lack of supply comes higher prices which has caused the average rents to surge. Rent costs for new tenants have increased by 11 percent in the last 12 months alone and a huge 20 percent rise in the last years - which is around an extra £2,220 a year.
READ MORE: Cheapest areas to buy a house in Greater Manchester where you're most likely to find a bargain
Although rents have risen all across the UK, thankfully there are still some locations where rental homes don't cost an arm and a leg.
In general, the cheapest rent in the UK is in the North East region - where tenants tend to spend an average of £631 a month on rent.
Northern Ireland and Scotland also offer affordable rental rates, with average rents of £688 and £712 respectively.
Rents across the south are expensive compared to other regions, with the South East, South West and East of England all registering average rents of more than £1,000 a month.
The average cost to rent in Manchester is now £978, which has gone up by 14.4 percent in the last year alone.
There are certain local areas across the UK where rents stand-out as much cheaper than the average.
Hartlepool, a seaside and port town in County Durham, is the local authority with the cheapest rent in 2023, sitting just shy of £500 per month.
There are also some areas in nearby Lancashire and Cumbria with rents for less than £600 per month, and these places- Hyndburn and Burnley - are just a short commute from Greater Manchester.
Here are the 10 cheapest areas to rent a home in the UK at the moment, along with their average prices:
- Hartlepool, County Durham - £494
- Burnley, Lancashire - £507
- East Ayrshire, Scotland - £522
- Pendle, Lancashire - £530
- Dumfries & Galloway, Scotland - £530
- County Durham - £535
- Barrow-in-Furness, Cumbria - £540
- Hyndburn, Lancashire - £544
- Allerdale, Cumbria - £545
- North Ayshire, Scotland - £549
This data has been retrieved from Zoopla's Rental Index in March 2023.
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