New data from a flat-sharing site has revealed that more than a third of renters are “severely rent burdened”.
The data, from SpareRoom, recorded that 34 per cent of renters in the UK are now spending more than 50 per cent of their salary on rent.
It also showed that more than 80 per cent of renters are spending more than 30 per cent of their salary on rent, rendering them “rent burdened”.
People in South East and South West England are spending a larger proportion of their take-home pay on rent than in other regions outside of London, with 83 per cent being rent burdened in the South West and 82 per cent in the South East.
The rise is taking a toll on what tenants deem affordable, with 54 per cent of renters classifying their rent as unaffordable - an increase of approximately 20 per cent from 2019, 2020 and 2021.
Another factor that the data measured was the gender of renters, with 85 per cent of women being rent burdened compared to 77 per cent of men.
Matt Hutchinson, director of SpareRoom commented: “When it comes to affordability, the rule of thumb was that rent should be around 30 per cent of your salary.
“This definition was outdated even pre-pandemic, but in the context of a cost-of-living and housing crisis, a 30 per cent benchmark isn’t anywhere close to being realistic.
"With over 80 per cent of the UK already rent-burdened, and over a third spending over half of their salary on rent, people are really feeling the squeeze, and rising rents will only cause yet more affordability issues for those renting in the UK.
"It’s crucial the government understands the severity of this situation and starts to help, or this housing crisis will become a housing disaster. ”