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If you are looking for a place or room to rent in London, you might be wondering which London boroughs and areas offer the best value for money.
London is known for being one of the most expensive cities in the world, but there are some areas that are more affordable than others. As of mid-2024, the average monthly rent for a two-bedroom property in London is around £2,400.
We, therefore, list the cheapest London boroughs to rent based on data found via Google and Bing searches which we have compared and analysed, highlighting their pros and cons.
If you are looking for cheap accommodation in London to rent, you might be wondering where to search and which boroughs offer the best value for money.
According to Compare My Move and London.Gov’s London Rental Map, the 10 cheapest places to live in London are:
Disclaimer: the information provided in this post was correct at the time of publication, but may be subject to change. The list below has been arranged according to the average monthly rent, from lower to higher.
1. Barking and Dagenham
Once considered a less desirable area, Barking and Dagenham have undergone significant regeneration in recent years. This East London borough now boasts improved transport links, modern housing developments, and a growing sense of community. The area’s proximity to the Thames and ongoing revitalisation projects have contributed to its increasing appeal.
Council Link: https://www.lbbd.gov.uk/housing
Average Rent: £1058 for a 2 bedroom flat per month (approx.)
Features:
- Complete assistance and services for council tenants and leaseholders, including maintenance and tenancy.
- Licencing requirements for most privately rented properties to ensure safety and quality standards are met.
- Dedicated services and support for the gipsy and Traveller communities within the borough.
Social Presence:
Barking and Dagenham is in east London and is one of the most affordable boroughs in the city. It has some regeneration projects underway, such as Barking Riverside and Beam Park, which aim to create new homes, jobs, and amenities. Barking and Dagenham have access to the District Line and the C2C Railway Line. This London borough also has a lot of potential for regeneration and development, with plans for new homes, schools, shops, and parks. It has a strong sense of community and identity, with many local festivals and events, such as the Barking Folk Festival and the Dagenham Town Show.
The area is becoming more attractive due to its affordability and improving local amenities, including new shopping centres. Barking Riverside is a prime example of the area’s transformation, offering modern apartments, waterfront living, and excellent transport connections.
However, Barking and Dagenham also have some challenges with poverty, low income levels, high unemployment rates, social cohesion, and a lack of cultural diversity, which may affect the well-being of some residents.
2. Hounslow
Hounslow offers a practical option for renters seeking a balance between affordability and accessibility. The area boasts a diverse population and a range of housing options, from modern apartments to traditional houses, catering to a variety of lifestyles.
Council Link: https://www.hounslow.gov.uk/info/20000/housing
Average Rent: £1,100 – £1,300 per month for a 2 bedroom flat.
Features:
- Process for applying and assessing eligibility for council housing.
- Information and guidelines to ensure safety in residential buildings.
- Support for tenants and landlords regarding private rental properties.
- Ongoing projects to increase housing availability and quality.
- Convenient transport links via the Piccadilly Line and proximity to Heathrow Airport.
Social Presence:
Hounslow’s strategic location, diverse atmosphere, and affordable housing options make it a popular choice for renters seeking a convenient and welcoming place to call home in London. The area is undergoing continuous improvements and developments, further enhancing its appeal.
3. Waltham Forest
Waltham Forest offers a compelling combination of affordability and a burgeoning cultural scene. The area is undergoing exciting development projects, fostering a vibrant community with new restaurants, cafes, and artistic endeavours popping up across the borough. This sense of progress sits comfortably alongside Waltham Forest’s historical charm, with a variety of housing options ranging from period homes to modern apartments.
Council Link: https://www.walthamforest.gov.uk/housing
Average Rent: £1,200 – £1,400 per month for a 2 bedroom flat.
Features:
- Green spaces such as Walthamstow Marshes and the Olympic Park.
- Compared to other London boroughs, Waltham Forest often provides more affordable rental options, making it suitable for a range of budgets.
- The area benefits from excellent transport connections, including the London Overground and Victoria Line, providing easy access to central London.
Social Presence:
- Facebook: 21k followers
- Instagram: 15.9k followers
- Twitter: 29.8k followers
- YouTube: 1.31k subscribers
Waltham Forest presents a fantastic opportunity for budget-conscious renters seeking a dynamic and evolving neighbourhood in London. With its mix of green spaces, cultural attractions, and strong community spirit, Waltham Forest has something for everyone.
4. Enfield
Enfield offers a delightful blend of suburban tranquilly and urban convenience. Known for its family-friendly atmosphere, abundant green spaces, and excellent schools, it’s an ideal choice for those seeking a peaceful yet well-connected lifestyle. Whether you’re a young professional seeking a balance between work and leisure or a family looking for a safe and nurturing environment, Enfield offers something for everyone.
Council Link: https://www.enfield.gov.uk/services/housing
Average Rent: £1,300 per month for a 2 bedroom apartment.
Features:
- The borough is well-connected by train, bus, and road, allowing for easy access to central London and other parts of the city.
- The borough offers diverse shopping centers and eateries, from high-street brands to local businesses.
- Enfield is known for its relatively low crime rates, contributing to a sense of security.
- The area has active local community groups and events, fostering a strong sense of belonging.
Social Presence:
Enfield’s combination of affordability, family-oriented environment, and excellent amenities makes it an increasingly sought-after location for those seeking a balanced and comfortable lifestyle in London. With its spacious green spaces, good schools, and a strong sense of community, Enfield offers a perfect escape from the hustle and bustle of the city centre without compromising on convenience.
5. Bexley
Bexley stands out from its neighbouring boroughs as it offers lower rental prices than other nearby areas, such as Bromley, Greenwich, and Lewisham.
Council Link: https://www.bexley.gov.uk/services/housing
Average Rent: £1,520 for a 2 bedroom property per month.
Features:
- Quick access to central London (around 30 minutes by train).
- Plenty of green spaces, historical buildings, and local amenities.
- Family-friendly environment with good schools and parks.
- Rental increase of 10.40% over the past year
Social Presence:
Bexley is in south-east London and has good transport links to central London and Kent. It also has plenty of green spaces, such as Danson Park and Hall Place Gardens, and a range of cultural attractions, such as the Red House and the Erith Playhouse.
The borough’s affordability and green spaces make it increasingly popular, particularly among families and retirees.
However, some parts of Bexley are not very well connected and may require a car or a bus to get around. Bexley also has some drawbacks, such as a high crime rate, a lack of nightlife and entertainment options, and a lower quality of education compared to other boroughs.
6. Croydon
London’s largest borough, Croydon, has experienced a revitalisation in recent years. With improved transport links, a growing cultural scene, and a diverse community, Croydon is becoming an attractive option for renters. Its prime location and ongoing development projects make it a compelling choice. Croydon is in south London and is one of the largest commercial and retail centres in the city. It has a vibrant arts and music scene, with venues such as Boxpark Croydon and The BRIT School.
Council Link: https://www.croydon.gov.uk/housing
Average Rent: £1,541 for a 2 bedroom property per month.
Features:
- Significant regeneration is underway, making it one of the most vibrant boroughs.
- Excellent transport links, including a connection to London Victoria in less than 20 minutes.
- Modern flats and a variety of bars, restaurants, and shopping centres.
- Rental increase of 8.70% over the past year
Social Presence:
Croydon has excellent transport links to central London via the Southern railway line and the Tramlink network. It also has a vibrant and diverse community, with a lot of art and music events, such as the Croydon Music City Festival and the Fairfield Halls. Croydon also has a reputation for being a hub for innovation and business, with many start-ups and tech companies based there.
The area’s ongoing regeneration is likely to increase its appeal and rental prices in the future, so securing a lease now might be advantageous.
However, Croydon also has some issues with crime, congestion, a high level of poverty and deprivation, a low satisfaction rate among residents, a negative image among outsiders, and pollution, which may affect the quality of life for some residents.
7. Havering
With its excellent schools, picturesque green spaces, and friendly community, Havering in East London is a sought-after suburban retreat. Once primarily a family destination, it now also attracts young professionals looking to balance work and leisure.
Council Link: https://www.havering.gov.uk/info/20001/housing
Average Rent: £1,584 for a 2 bedroom property per month.
Features:
- Low population density and abundant green spaces.
- Connected by the District Line and Overground services.
- Suitable for those seeking a balance between city life and suburban tranquillity.
- Significant rental increase of 12.90% over the past year
Social Presence:
Havering is situated in east London and borders Essex. It has a mix of urban and rural areas, with attractions such as Hornchurch Country Park and Rainham Marshes. Havering has access to the London Underground via the District Line and the C2C railway line. Havering also has a lot of open countryside, such as Hornchurch Country Park, and a variety of shopping and leisure facilities, such as Romford Market and Queen’s Theatre.
Havering is expected to see continued interest due to its affordability and quality of life, attracting more families and young professionals.
However, Havering is quite far from central London and may not have the same cultural diversity and nightlife as other boroughs. It also has some disadvantages, such as a long commute time to central London, a lack of diversity and culture, and a higher level of pollution than other boroughs.
8. Redbridge
Its diverse community, particularly its strong Asian influence, infuses the borough with a rich character. Blending residential tranquillity with commercial energy, Redbridge offers a balanced lifestyle. However, Redbridge is also quite far from central London and may not have the best public transport options for some commuters.
Council Link: https://www.redbridge.gov.uk/housing/
Average Rent: £1,721 for a 2 bedroom property per month.
Features:
- Lively neighbourhoods with affordable housing options.
- Expected to grow in popularity due to the upcoming Crossrail connection.
- Several rail services connect to central London.
- Rental increase of 11.60% over the past year
Social Presence:
- Facebook: 9.8k followers
- Instagram: 5.3k followers
- Twitter: 24.9k followers
- YouTube: 698 subscribers
Redbridge is in north-east London and has access to the Central line and the TfL Rail service. Redbridge also has a lot of natural beauty, such as Epping Forest and Hainault Forest Country Park, and a range of cultural and historical attractions, such as Valentine Mansion and Gardens and Ilford War Memorial.
With Crossrail set to improve transport links significantly, Redbridge is poised for increased demand and development.
However, Redbridge also has some issues, such as a high population density, a lack of affordable housing options, and a lower life expectancy than other boroughs.
9. Lewisham
Lewisham offers a winning combination of affordability and a strong sense of community. Nestled amidst parks and green spaces like Hilly Fields and Ladywell Fields, the area exudes a charming and relaxed atmosphere. With efficient transport links provided by the Overground and Southeastern rail services, Lewisham makes it easy to navigate London and explore all it has to offer.
Council Link: https://lewisham.gov.uk/myservices/housing
Average Rent: £2,300 for a 2-bedroom apartment per month.
Features:
- A mix of residential housing, including period properties and modern apartments.
- Access to parks such as Hilly Fields and Ladywell Fields.
- Rental Price Increase (2023): 1.8% year-over-year.
Social Presence:
- Facebook: 9.6k followers
- Instagram: 6.0k followers
- Twitter: 33.2k followers
- LinkedIn: 16k followers
- YouTube: 1.4k subscribers
Lewisham’s blend of affordability, friendly community spirit, makes it a fantastic option for those seeking a comfortable and well-connected home in London.
10. Newham
Newham stands out for its vibrant tapestry of cultures and its reputation as a budget-friendly haven close to the heart of London. The area is undergoing exciting development projects, with improvements in housing and public amenities constantly on the rise. This makes Newham an attractive option for cost-conscious renters who seek a dynamic and diverse environment.
Council Link: https://www.newham.gov.uk/homepage/244/housing-services
Average Rent: £2,500 for a 2-bedroom apartment per month.
Features:
- Diverse housing options, from Victorian terraces to new-build flats.
- Rich cultural scene with local markets and eateries, especially in areas like Upton Park and Stratford.
- Well-connected through the Jubilee Line and Overground services.
- Rental Price Increase (2023): 3.0% year-over-year.
Social Presence:
- Facebook: 642 followers
- Instagram: 8.6k followers
- Twitter: 31.8k followers
- YouTube: 2.35k subscribers
Conclusion
As you can see, there are pros and cons to renting in each of these cheapest London boroughs. Depending on your budget, preferences, and lifestyle, you might find one area more suitable than another.
By considering these areas, renters can find more affordable options without sacrificing too much on amenities and connectivity. Each borough offers unique features and opportunities, making them viable options for a variety of lifestyles.
If you want us to add a suggestion here based on your experience, please get in touch with us!
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