Editor's note: This brief was summarised by The Property AI Team from a report by Letting Agent Today. Read the original article for full details.
Renters' Income Share Rises Despite Monthly Rent Fall
UK renters spent a higher share of their income on rent in October, despite average rent prices falling month-on-month, according to the latest HomeLet Rental Index. The index shows UK renters spent an average of 32.7% of their income on rent in October, up from 32.1% in September.
That increase in income share occurred even though average rents fell 0.9% compared to September, to £1,375. On an annual basis, however, the average rent was 2.2% higher than in October 2025.
The figures show a market where headline rents eased slightly month-on-month, but affordability pressure on tenants did not follow. For letting agents and inventory clerks, the data reminds them that rental affordability remains an issue even when average advertised or achieved rents dip.
What the Index Shows
- UK renters spent an average of 32.7% of income on rent in October, up from 32.1% in September.
- Average rents fell 0.9% month-on-month to £1,375.
- Average rents remained 2.2% higher than in October 2025.
The HomeLet Rental Index is the source for all figures cited in this brief. The source report did not include further detail on regional breakdowns, tenant demographics or the drivers behind the income-share increase.
Why It Matters for Letting Agents
Affordability metrics such as the share of income spent on rent are closely watched across the UK lettings sector, particularly amid ongoing scrutiny of rental costs and tenant finances. A rising income share alongside a monthly rent fall suggests tenants feel pressure even as average rents soften.
Agents and inventory clerks should note that the source report does not break down the figures by region, property type or tenancy stage, so the headline numbers represent a national snapshot only.
Source: Letting Agent Today