Propertymark data reveals a rental affordability divide — rents fell in nine regions while income demands remain steep
Rents fell across most of England and Scotland in September 2026, yet the income required to secure a tenancy remains out of reach for many workers.
Propertymark’s September 2026 Rental Price and Average Salary Tracker data show that rents declined month-on-month in nine of the 11 regions surveyed. Scotland recorded the largest fall at 3.4%, followed by the North West at 2.5% and both London and the South West at 2.1%.
Despite that, annual salary demands remained steep across every region, a finding that underscores the depth of the UK’s rental affordability divide. The range ran from £26,160 in the North East to £72,450 in London.
| Location | Average rental price | Annual salary needed to secure the average-priced home (before tax) |
|---|---|---|
| Scotland | £1,134 | £34,020 |
| Wales | £995 | £29,850 |
| East Midlands | £991 | £29,730 |
| East of England | £1,354 | £40,620 |
| London (inner and outer) | £2,415 | £72,450 |
| North East | £872 | £26,160 |
| North West | £1,109 | £33,270 |
| South East | £1,491 | £44,730 |
| South West | £1,256 | £37,680 |
| West Midlands | £1,062 | £31,860 |
| Yorkshire and Humberside | £961 | £28,830 |
| Source: Propertymark Rental Price and Average Salary Tracker, September 2026. Salary calculated at 30× monthly rent. Data from approximately 15,000 letting agencies across the UK. Northern Ireland excluded — insufficient sample size for statistically reliable findings. | ||
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A monthly dip, not a rental affordability shift
The gap between short-term rent movements and longer-term affordability is the central lesson in this data. It is the difference between a client reading a monthly headline as good news and making a sound, long-term assessment of their portfolio.
“A monthly fall in rents does not necessarily mean renting has become more affordable,” said Kim Lidbury, president of ARLA Propertymark. Lidbury welcomed improvements in Yorkshire and Humberside and the North West, where the salary requirement dropped 3.6% and 1.9% respectively. She cautioned, however, that regional differences alone would not resolve the structural pressures bearing down on the private rented sector.
What does September’s rental affordability data mean for your client conversations?
For brokers with landlord clients, the regional data offers a useful lens on where buy-to-let fundamentals remain viable. The North East, with average rents at £872 per month and a salary threshold of £26,160, sits at the affordable end.
The South East sits at the other extreme. At £1,491 per month, a tenant there needs £44,730 yearly, a level of affordability pressure that raises void risk for landlords in the region.
The tracker calculates salary requirements at 30 times the monthly rent, the standard threshold used by referencing agencies. A London tenant renting at the September 2026 average of £2,415 per month would need earnings of £72,450 before tax. That figure shapes how lenders and landlords assess risk in the capital’s buy-to-let mortgage market.
Supply remains the underlying constraint
“Ensuring there are enough good-quality homes available to meet demand will be essential,” Lidbury said. “Supporting landlords to remain in the sector and invest in rental properties, alongside increasing housing supply, will be key.”
That view is consistent with broader market data. Supply shortages are present in every region, according to recent rental market research. Affordable markets are recording some of the sharpest rent increases as tenants compete for limited stock.
Year-on-year, the salary requirement held flat in Wales and the East Midlands. It rose modestly in London (+1.4%), the East of England (+0.9%), the North East (+1.5%), and the South West (+1.1%). Only Yorkshire and Humberside and the North West recorded genuine annual improvements.
Broker takeaway on UK rental affordability
The data does not point to a broad affordability recovery. It points to a market in gradual, uneven transition. For brokers advising renters on whether to continue renting or explore home ownership, the salary figures provide a concrete reference point. A renter in the North East earning above £26,160 already meets the standard referencing threshold. A renter in London would need nearly triple that.
Propertymark’s data — drawn from 15,000 letting agencies across the UK — adds context to any rental affordability conversation with a landlord or renter client. For brokers, the regional salary figures are a practical tool that sharpens any conversation with a landlord or a renter considering their next move.
