OXFORD is ranked among the most unaffordable cities to rent in the UK.
The city falls behind Brighton and Bath, where renters are expected to spend 52 per cent of theirr salary on rental payments.
In Oxford an average of 51 per cent of salary goes towards rent.
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To maintain an adequate standard of living, experts advise that tenants shouldn’t spend more than 30 per cent of their gross income salary on rent.
Rent continues to be unaffordable in Oxford. Picture: Pixabay.
Earlier this month, a report by property firm Zoopla said that Oxford was the only city where house prices for buyers dropped in the UK.
But this drop still meant Oxford was the third most expensive place to buy a home in the UK, behind London and Cambridge.
You can read our report about Zoopla' price index here
The Open Property Group’s rental affordability index also revealed Durham as the most affordable city to rent in England, with just 23 per cent of your monthly salary going towards rent.
Meanwhile Lancaster and Liverpool only require renters to spend 24 per cent of their salary on rent.
Open Property Group Managing Director, Jason Harris-Cohen said: “It is noteworthy that the North/South divide is highly evident, demonstrating the low rental values in all cities north of Warwick. I am quite surprised with the least affordable and I wouldn’t of expected Portsmouth to appear in the least affordable section.
“Hopefully we will continue to see wage growth over the coming years and assuming that the rental values remain static, we will find that the percentage of income spent on rent is more affordable.”
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