Shildon tops the list of the cheapest places to rent a home in the UK

There’s a lot of chat about where the cheapest place to buy a home is in the UK.

It’s Middlesborough, FYI.

But what are you supposed to do while you’re saving up the deposit for that first home, even if the deposit is measly in comparison to those required to buy a house in London?

You’ll need to find a place to rent in the meantime, but if said monthly rent is astronomical, your chances of ever buying a house disappear along with your salary.

Thus it’s worth knowing whereabouts lie the cheapest monthly rents around the country, and handily, Rentround has put together a list.

It turns out the DL4 postcode in Shildon, a town in County Durham, is the cheapest place to rent a home, with the average monthly rent coming in at just £376.

In second place is Ferryhill, also in County Durham, where rent is £377 a month, and Bishop Auckland, in – you guessed it – County Durham, also for £377 a month.

It’s not until you get to the 5th slot on the list that you leave County Durham, with Burnley in Lancashire averaging at £394 a month for rent.

The cheapest places to rent a home in the UK and the average rent:

As you’d expect, the most expensive places to rent are in London, with prices going up the closer you get to the centre.

In SW7 – that’s Chelsea, Knightsbridge, and Kensington – rents can be upwards of £1,300 a month. Yeesh.

Please bear in mind, though, that these are all averages, and you may find far cheaper or more expensive places wherever you rent.

Even in London, it is possible (though much harder) to rent somewhere under £500 a month… as long as you’re okay with living further out of the centre and sharing with a bunch of strangers.

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