UK tenants are spending almost a third of their annual income on rent as average rents continue to rise, according to new research from Lomond.
The agency network’s Summer 2026 Quarterly Insights report puts the average proportion of income spent on rent at 32.7%, with the typical UK rent reaching £1,369 per month.
That represents an annual increase of 4.3%, while London remains considerably more expensive at an average £2,418 per month – 76% above the UK average.
The report, drawing on Goodlord and LomondIQ data, also puts the average age of a UK renter at 31.5.
DEMAND EVOLVING
Lomond says tenant priorities are changing as affordability pressures combine with higher expectations around property quality, location and value.
It argues the Renters’ Rights Act and the move towards periodic tenancies are also encouraging landlords and letting agents to focus increasingly on securing suitable long-term tenants rather than simply filling properties as quickly as possible.
London recorded the largest volume of tenancies created during the past year, while Kent saw the number of tenancies agreed jump 121%.
Average Kent rents increased 5% annually, with two and three-bedroom homes proving popular and family housing continuing to drive demand.
Rents in both the North West and Yorkshire also increased 5%, reaching £1,215 and £1,283 per month respectively.
LONG-TERM VALUE
In the North West, Lomond reports increasing demand for rural and semi-rural locations between Liverpool and Manchester as renters seek a combination of affordability, lifestyle and access to employment centres.
Yorkshire has also recorded an increase in tenants moving into properties, with two and three-bedroom terraces and semi-detached homes amongst the most sought-after stock.
John Ennis (main picture, inset), Chief Revenue Officer at Lomond, says: “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.
“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.”
