We all know that living in London is expensive – it’s part of the reason so many Gen Z and millennial women have moved to the country.
Though rents in some London neighbourhoods have actually fallen over the last five years, securing a reasonably affordable room can still feel like an uphill struggle.
The market has been especially competitive in recent weeks, too, as a new intake of students has arrived in the capital. At the same time, some office workers have decided to move back to London after a pandemic break living in the country or perhaps with their parents.
For this reason, it’s definitely helpful to check out SpareRoom’s latest report on the cheapest postcodes in London to rent a room.
The prices are based on the average monthly room rents across 58,000 ads on Spareroom in July, August and September, so they’re comprehensive and pretty much bang up to date.
SE2, a postcode that covers Abbey Wood and adjacent neighbourhoods in southeast London, is named the most affordable of all with an average room rent of £563 per month. E6 (East Ham) and N9 (Edmonton) aren’t too far behind, though.
Check out the top eight affordable postcodes below.
1. SE2 (Abbey Wood) £563
2. E6 (East Ham) £568
3. N9 (Edmonton) £579
4. SE25 (South Norwood) £583
5. E13 (Plaistow) £585
6. SE9 (Eltham) £587
7. N21 (Winchmore Hill) £591
8. E11 (Leytonstone) £592
Meanwhile, three increasingly popular neighbourhoods in east London – East Ham (Eg), Leytonstone (E11) and Leyton (E10) are named London’s most affordable “hotspots” for renters..The average room rent in Leyton is £604, which is still relatively reasonable for the capital.
At the other end of the scale, SW7 (South Kensington and Knightsbridge) is named the most expensive postcode with an average monthly room rent of £1,102. That’s nearly double the average price in Abbey Wood and an eye-watering amount to pay for close proximity to London’s most Instagrammed restaurants and popular bottomless brunch spots.
Like what you see? How about some more R29 goodness, right here?