Today we’re talking about the cheapest places to rent in London in 2018 according to our own data on rental prices across the capital. We reveal the cheapest boroughs in which you can rent a property through Foxtons, making your money go further when it comes to finding an affordable rental property in London.
*Updated version for 2020: 10 cheapest places to rent in London.
Barking and Dagenham
AVERAGE RENTAL PRICE: £1,302 per month / £300 per week
First up is the London Borough of Barking and Dagenham, which according to our figures is the cheapest place to rent in London, with average rents currently at around £1,302 per month. Growing in popularity with both renters and buyers, commuters can enjoy fast links to central London by train or Overground.
AVERAGE RENTAL PRICE: £1,375 per month / £317 per week
Next on the list is Croydon, where average rents currently stand at £1,375 a month. With the area undergoing extensive regeneration, there’s plenty going on in this bustling outer London borough that renters can be excited about – Boxpark, all the usual high street stores and a range of bars and cafes. And, of course, the transport links, which connect with London Victoria in less than 20 minutes.
AVERAGE RENTAL PRICE: £1,407 per month / £325 per week
In at number three is Sutton, offering some of London’s cheapest rental properties at an average of £1,407 a month. Although Sutton is in transport Zone 5, there are fast trains to London Victoria in around 30 minutes and the well-established town centre has lots to offer renters, including a shopping centre, large supermarkets and plenty of places to eat and drink.
AVERAGE RENTAL PRICE: £1,458 per month / £336 per week
One of London’s best value rental areas, Bromley appeals to renters looking for a suburban setting, rather than a busy city vibe. Here, the average rental price stands at around £1,458 a month and there’s a good range of properties, too – from small flats to large family homes, there’s something for most lifestyles.
AVERAGE RENTAL PRICE: £1,534 per month / £354 per week
One of London’s cheapest boroughs is Lewisham, which has been undergoing a makeover for the past couple of years. There are lots of newly built developments popping up in the area and situated on the boundary of Zone 2, it offers renters great value for money considering how close it is to central London.
AVERAGE RENTAL PRICE: £1,562 per month / £360 per week
Encompassing the popular neighbourhoods around Wanstead Flats and more affordable areas of the East End, the London Borough of Redbridge is one of the cheapest places to rent in London, with rents at an average of £1,562 a month. Soon to be connected by Crossrail, the borough is likely to grow in price and popularity over the next couple of years.
AVERAGE RENTAL PRICE: £1,583 per month / £365 per week
Well connected with central London and well-established with London’s rental population, Enfield attracts renters searching for close proximity to the M25 and a more relaxed, out of town feel. Trains into Moorgate and London Liverpool Street make this the perfect affordable London area for those working in the City, who are looking for good value for money when it comes to the property they are living in.
AVERAGE RENTAL PRICE: £1,611 per month / £372 per week
In at number eight on the list is Harrow, which is one of London’s best value areas, with average rents currently coming in at £1,611 per month. Perfect for families, Harrow offers both a modern town centre and a taste of the countryside side-by-side. And of course, some of the best schools in the capital for those with children.
AVERAGE RENTAL PRICE: £1,613 per month / £372 per week
One of London’s cheapest boroughs – both for renters and buyers – Newham stretches from Stratford to Barking and south to London Docklands, which is where much of London’s regeneration is happening. Not only do renters have easy access to Stratford’s fantastic shopping district, but the transport links here are second-to-none.
AVERAGE RENTAL PRICE: £1,617 per month / £373 per week
Just inside the M25, the London Borough of Hillingdon is growing in popularity as the areas around Heathrow Airport are beginning to expand. To the north of the borough, renters can find suitable family homes, while in Uxbridge the student rental population is large thanks to Brunel University. One of the cheapest places to rent in London, the average monthly rental price in Hillingdon is £1,617 a month.
For those of you that are thinking of buying a property, you might find it useful to know where the cheapest places to buy a property in London are.