Renters ‘must earn more than £75,000’ to afford to live in London
August 21, 2024
Renters ‘must earn more than £75,000’ to afford to live in London
by Lazergun_Nun
12 comments
Well I must be a miracle then because I definitely don’t
According to greedy landbastards
Absolutely LOVE this! Let’s put some ambition back in this country. I want to see everyone out tomorrow morning, CV in hand walking into their high street bank, giving the manager a firm handshake and saying “I want a job!” It’s that simple!!
Thank god I live with parents and we own our house. Although I knew grads at my old job that were making it work but they were in house shares. I do wonder how long this can continue though as if it continues to be unaffordable for young people starting out to live in London then companies in the city will struggle to recruit new staff as younger people may move to other cities like Leeds and Manchester for cheaper accommodation.
So much money to live in a mouldy shithole
It’s beyond ridiculous. I earn a pretty decent salary but can only afford to rent a room in a house share. I’m fortunate in that it works for my lifestyle, but I don’t know how people manage if they’re on much lower incomes or one parent families. I love where I live, but it’s a reality that if I ever want to rent by myself I’ll have to leave London.
Git gud
That’s a misleading headline and a spurious conclusion. What the figures actually show is that the average London rent represents an arbitrary 30% of the take home pay from a salary of £75,000 (I’ve done the maths, it’s roughly £1,500 a week).
This is nearly twice average London pay. Meaning that the many real-life renters who are paid less than this either pick from the roughly half of rental properties which charge less than average rent, or choose to hand over more than 30% of their pay for rent, or more likely a combination of both.
Someone earning £75,000 takes home around £4,500 a month. If they allocated 30% of this to rent, they would still be left with a more than adequate £3,000 per month for everything else. This clickbait article implies that anything even marginally less is some form of poverty. It is glossing over the problems of the genuinely poor such as those earning below average salaries and forced into inadequate accommodation.
Define “live”…
My landlord is literally raising the rent every year by £150 a month and it’s getting ridiculous now.
Shit I make $75k USD and I can’t even afford to rent on my own in bumfuck Oklahoma.
12 comments
Well I must be a miracle then because I definitely don’t
According to greedy landbastards
Absolutely LOVE this! Let’s put some ambition back in this country. I want to see everyone out tomorrow morning, CV in hand walking into their high street bank, giving the manager a firm handshake and saying “I want a job!” It’s that simple!!
Thank god I live with parents and we own our house. Although I knew grads at my old job that were making it work but they were in house shares. I do wonder how long this can continue though as if it continues to be unaffordable for young people starting out to live in London then companies in the city will struggle to recruit new staff as younger people may move to other cities like Leeds and Manchester for cheaper accommodation.
So much money to live in a mouldy shithole
It’s beyond ridiculous. I earn a pretty decent salary but can only afford to rent a room in a house share. I’m fortunate in that it works for my lifestyle, but I don’t know how people manage if they’re on much lower incomes or one parent families. I love where I live, but it’s a reality that if I ever want to rent by myself I’ll have to leave London.
Git gud
That’s a misleading headline and a spurious conclusion. What the figures actually show is that the average London rent represents an arbitrary 30% of the take home pay from a salary of £75,000 (I’ve done the maths, it’s roughly £1,500 a week).
This is nearly twice average London pay. Meaning that the many real-life renters who are paid less than this either pick from the roughly half of rental properties which charge less than average rent, or choose to hand over more than 30% of their pay for rent, or more likely a combination of both.
Someone earning £75,000 takes home around £4,500 a month. If they allocated 30% of this to rent, they would still be left with a more than adequate £3,000 per month for everything else. This clickbait article implies that anything even marginally less is some form of poverty. It is glossing over the problems of the genuinely poor such as those earning below average salaries and forced into inadequate accommodation.
Define “live”…
My landlord is literally raising the rent every year by £150 a month and it’s getting ridiculous now.
Shit I make $75k USD and I can’t even afford to rent on my own in bumfuck Oklahoma.
Alone, perhaps. I earn significantly less.