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Private rental and affordability

Summary
Rental levels in Herefordshire are just under the median point for all English authorities excluding London.

The Valuation Office Agency (VOA) carries out an on-going survey of private rental levels across the country. The table below provides monthly private rental levels in Herefordshire during the year to March 2016.

   room           studio         one-bed      two-bed      three-bed   four-bed+
 lower quartile rent £303 £290 £400 £520 £620 £775
 median rent £325 £335 £450 £565 £685 £900
 upper quartile rent £355 £375 £495 £600 £750 £1,100

(This chart and associated data can be downloaded below)
Source: Private rental market statistics (Valuation Office Agency, 2016)

Across all dwelling sizes, the median rent in Herefordshire is £570 per month which is just below the median point for all (excluding London) English authorities. This means that if you line all of the local authorities in England in order, from the lowest to the highest rent, Herefordshire falls just under the mid-way point. Rental levels range across England from £395 (Kingston upon Hull) to £1,293 (Elmbridge).

Chart 1 below compares regions by median rent, and the West Midlands region is ranked somewhere in the middle being more expensive than the East Midlands and regions further north, but cheaper than the regions to the south.

Chart 1. Authorities by region excluding London - comparison against Herefordshire's median rental level of £570 per month (This chart and associated data can be downloaded below)
Householdtenure Lasbyregion
Source: Private rental market statistics (Valuation Office Agency, 2016).

Within the West Midlands region, Herefordshire is ranked as the third most expensive unitary or shire authority when median rents for all dwelling sizes are compared, see the table below.

Chart 2. Median monthly rents for all dwelling sizes (This chart and associated data can be downloaded below)

West Midlands Region (shires and unitary authorities) Median monthly rental across all dwelling sizes
Stoke-on-Trent UA £425
Staffordshire £545
Shropshire UA £550
Telford and Wrekin UA £550
West Midlands (Met County) £560
Herefordshire, County of UA £570
Worcestershire £595
Warwickshire £675

Source: Private rental market statistics (Valuation Office Agency, 2016).

The ratio of lower quartile rent to lower quartile earnings can be used to judge how affordable a dwelling at the lower end of the rental market is to the lowest earners in an area. In 2016, the ratio for Herefordshire was 0.31 which is at the median point for all (excluding London) English authorities. Excluding London, the earnings-to-rental ratios range from 0.18 for Copeland in the North West region to 0.55 for St Albans in the South East region. Out of all the West Midlands shires and unitary authorities, only Wocestershire has a worse affordability ratio than Herefordshire.

Chart 2 below compares regions by affordability ratio. It can be seen that there is a clear divide in rental affordability between the North and the South as well as the East of the country.

Chart 2. Affordability ratio for renting - authorities by region excluding London (This chart and associated data can be downloaded below)
Householdtenure Affratio

Source: Private rental market statistics (Valuation Office Agency, 2016).

Tables & charts

  • Private rental market statisticsPrivate rental market statistics
  • Average private rents and affordability of the rental market in Herefordshire. Includes comparisons with regional and national figures.
  • 127 Kb
 

Last updated: Thursday, August 23, 2018