We look at the average salary and rent costs across the region to see how much people are spending on renting
Renters in one Greater Manchester area are spending more than half of their take-home pay on rent as wages fail to keep up with soaring prices. Rent costs in Manchester have gone up twice as fast as wages over the last nine years, exclusive analysis by Manchester Evenings News has revealed.
New data shows that renting the average home in the Manchester borough now costs £1,194 a month - taking up a whopping 54.8 percent of the typical take-home pay - which is the highest percentage in the north of England. Rent costs are up by 11 percent compared to the same time last year, and by 51.5 percent since March 2015, when the average home in the city cost just £788 a month to rent.
The average full-time employee in Manchester earned an estimated £26,127 last year after tax and national insurance were deducted. That’s gone up by 26 percent from 2014, when the average take-home pay in the city was £20,738 for full-time workers.Here is what it now costs to rent in each of the region's 10 boroughs, from the least to most affordable:Percentage of take-home pay spent on rent: 54.8%Percentage of take-home pay spent on rent: 48.
The figures come from exclusive analysis of official earnings and rent price data by the Reach Data Unit. Take-home pay has been calculated by deducting income tax and national insurance from the median salary in each local authority, for each year from 2014 to 2023.
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