Copeland, Ribble Valley and Staffordshire Moorlands were the most affordable places to privately rent in England last year, according to the latest market analysis from Paragon Bank.
Paragon’s Rental Affordability Index takes recently published Government data, and by overlaying gross annual earnings with the average amount spent on rent, reveals an average rental affordability ratio for local authority areas across England.
On average, privately renting a property in Copeland, Cumbria, costs £5,236 per annum. Cross-referencing this with the salaries earned by residents in the area, averaging £49,812 annually, provides a rental affordability ratio of 10.5%.
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