Cost of Rent Day 2024

• Cost of Rent Day falls on the 5th May;

• Renters in England work 125 days a year solely to pay their landlord;

• Cost of Rent Day is the day on which, on average, renters in England earn enough before tax to cover their annual rent bill;

• Cost of Rent Days have been calculated for 9 regions and 309 local areas across England;

• This analysis of local areas shows Cost of Rent Day is even later in England’s major cities and the South East;

• For example, the average Cost of Rent Day in London is the 16th July, more than two months later than the national average. This means that higher salaries are no sufficient to compensate for higher rent prices renters face in the capital;

• This research has also exposed gaps in ONS housing statistics that need to be addressed, to enable better tracking and understanding of rental costs;

• It is now incumbent on policymakers to fix the housing crisis, in particular, by addressing the shortage of homes.