The most affordable rental cities in Britain revealed

The major cities that currently have the highest level of affordable homes for tenants that are at or below the current average rent have been revealed.

A new study by Zero Deposit, the tenancy deposit alternative, looked at the average rent in 15 major British cities and compared it to the availability of rental properties at or below this affordability benchmark.

The research shows that across England, 31% of all current available rental stock is listed for £1,000 per month or less, close to the current average rent of £960 per month.

This climbs to 55% in Scotland and 52% in Wales using their average monthly rental amounts of £1,042 in Scotland and £1,032 in Wales.

‘Rental market is a perfect storm for tenants’

Zero Deposit’s chief executive, Sam Reynolds, said: “Today’s rental market is a perfect storm for tenants and for many, successfully navigating the rental market to find their perfect property is an impossibly tough task.

“The biggest obstacle remains the cost of securing a property.”

He added: “Doing your research is always key, but especially today as tenants are being forced to heavily compromise and reset expectations to find an acceptable property.”

Sheffield stands out as the most affordable city

The research reveals that Sheffield stands out as the most affordable city, with an average rent of £717 per month and a whopping 68% of current rental stock listed with an asking rent of up to £800.

This means that tenants in Sheffield have the best chance of finding a property that suits their budget and preferences.

Liverpool ranks second, with an average rent of £664 per month and 62% of current rental stock listed with an asking rent of up to £700 per month.

Glasgow is third, with an average rent of £1,105 per month and 61% of current rental stock listed with an asking rent of up to £1,200 per month.

Worst city for tenants looking for a bargain

However, Newcastle is the worst city for tenants looking for a bargain, with an average rent of £681 per month and only 9% of current rental stock listed with an asking rent of £700 per month or less.

London is not far behind, with an average rent of £1,751 per month and 21% of current rental stock listed with an asking rent of up to £1,800 per month.

Other cities that were ranked include Bradford, Leicester, Edinburgh, Bristol, Birmingham, Leeds, Nottingham, Portsmouth, Manchester and Cardiff.