According to the Portico’s data, Bexley holds the title of the cheapest borough in London to rent in, with the July average rental price for a two bedroom property standing at £1,108 per month, or £554 per room.
You’ll pay even more if you’re living alone - even in the most affordable borough in London - as according to Portico’s rental data, the July average rental price for a one bedroom property in Bexley is £847.32.
On the other end of the scale, if you want to live in the exclusive borough of Kensington and Chelsea, the July average rental price is a staggering £3,989 for a two bedroom property, or £1,994.50 per room.
The average price for a two bedroom property in London is £1,756, or £878 per room.
“Many Londoners now consider renting as a long-term norm, as a result of rising property prices.
It’s therefore good to know where you can find the most affordable rent - and our data lists the London boroughs two bedroom rental prices from the cheapest to the most expensive.
Bexley in south east (£1,108 pcm) and Havering (£1,156 pcm) in the east offer the capital’s cheapest rents, and they’re soon to become well-connected too, with stations planned on the eastern edge of the Elizabeth line.
If you want to live in inner London, Lewisham offers the most affordable rent (£1,430 pcm).”
July Average Monthly Rent for a 2 Bedroom Property