Rental price and average salary tracker – February 2026
Regional divergence replaces winter slowdown as rental market shows mixed February movement
Month-on-month rental prices showed a mixed picture in February. Notable increases were recorded in the East Midlands (+3.4%), North West (+2.8%), Scotland (+2.7%) and South East (+2.0%), suggesting demand has firmed in several areas. However, Northern Ireland (−6.6%), West Midlands (−1.3%), East of England (−0.3%) and Yorkshire and Humberside (−0.1%) saw declines, indicating that seasonal adjustments remain evident in parts of the market.
- Year-on-year salary requirements continue to show modest upward movement in most regions, reinforcing that short-term monthly fluctuations in rents have not yet translated into meaningful affordability improvements.
- London recorded a 1.0% month-on-month rental increase, while the annual salary required eased by 2.2% year on year, standing out as one of the few regions where income thresholds have fallen.
- The market remains increasingly fragmented, with national averages masking divergent regional trends. Some tenants are seeing stabilisation or modest rises in rents, while others are benefiting from small short-term corrections.
This monthly report provides a comprehensive analysis of the current private rented sector in the UK by examining the average agreed rental prices alongside the typical average annual salary required by referencing agencies to affordably rent across various regions. By exploring these key indicators, we aim to shed light on the affordability and accessibility of private rented housing relative to income levels, offering valuable insights, especially for those navigating the dynamic landscape of the UK’s housing market.
February 2026:
| Location | Average rental price | Representative average annual salary needed to secure the average-priced home (before tax and any deductions) |
| Scotland | £1,070 | £32,100 |
| Northern Ireland | £853 | £25,590 |
| Wales | £1,043 | £31,290 |
| East Midlands | £1,027 | £30,810 |
| East of England | £1,324 | £39,720 |
| London (inner and outer London) | £2,226 | £66,780 |
| North East | £908 | £27,240 |
| North West | £1,102 | £33,060 |
| South East | £1,521 | £45,630 |
| South West | £1,372 | £41,160 |
| West Midlands | £1,040 | £31,200 |
| Yorkshire and Humberside | £954 | £28,620 |
February 2025 (for comparison):
| Location | Average rental price | Representative average annual salary needed to secure the average-priced home (before tax and any deductions) |
| Scotland | £1,062 | £31,860 |
| Northern Ireland | £1,011 | £30,330 |
| Wales | £990 | £29,700 |
| East Midlands | £1,020 | £30,600 |
| East of England | £1,358 | £40,740 |
| London (inner and outer London) | £2,269 | £68,070 |
| North East | £887 | £26,610 |
| North West | £1,082 | £32,460 |
| South East | £1,521 | £45,630 |
| South West | £1,362 | £40,860 |
| West Midlands | £1,032 | £30,960 |
| Yorkshire and Humberside | £926 | £27,780 |
Change seen in the average salary required year on year:
| Location | February 2025 – typical annual salary needed to secure a home (before tax and deductions) | February 2026 – typical annual salary needed to secure a home (before tax and deductions) | % change in salary needed |
| Scotland | £30,300 | £32,100 | +5.9% |
| Northern Ireland | £25,470 | £25,590 | +0.5% |
| Wales | £30,180 | £31,290 | +3.7% |
| East Midlands | £30,300 | £30,810 | +1.7% |
| East of England | £39,630 | £39,720 | +0.2% |
| London (inner and outer London) | £68,280 | £66,780 | -2.2% |
| North East | £26,730 | £27,240 | +1.9% |
| North West | £31,500 | £33,060 | +5% |
| South East | £45,120 | £45,630 | +0.2% |
| South West | £40,860 | £41,160 | +0.7% |
| West Midlands | £30,450 | £31,200 | +2.5% |
| Yorkshire and Humberside | £28,110 | £28,620 | +1.8% |
Average monthly rental price month-on-month comparison (December 2025 – January 2026):
| Location | Average monthly rental price – January 2026 | Average monthly rental price – February 2026 | Percentage change (difference from Jan to Feb) |
| Scotland | £1,042 | £1,070 | +2.7% |
| Northern Ireland | £913 | £853 | -6.6% |
| Wales | £1,037 | £1,043 | +0.6% |
| East Midlands | £993 | £1,027 | +3.4% |
| East of England | £1,328 | £1,324 | -0.3% |
| London (inner and outer London) | £2,204 | £2,226 | +1% |
| North East | £894 | £908 | +1.6% |
| North West | £1,072 | £1,102 | +2.8% |
| South East | £1,491 | £1,521 | +2% |
| South West | £1,363 | £1,372 | +0.7% |
| West Midlands | £1,054 | £1,040 | -1.3% |
| Yorkshire and Humberside | £955 | £954 | -0.1% |
Megan Eighteen, President of ARLA Propertymark (Association of Residential Letting Agents), comments:
“February’s data reflects a more varied rental landscape than we saw earlier in the winter, with a number of regions recording modest month-on-month rent increases, including the East Midlands, North West and Scotland. At the same time, areas such as Northern Ireland and the West Midlands have seen rents fall back, demonstrating that seasonal influences are still at play in parts of the market.
“While some regions are experiencing short-term adjustments, the annual salary required to secure a rental property has generally edged upwards year on year. This underlines that affordability pressures remain structurally embedded despite monthly volatility.
“Overall, the data suggests a market that is recalibrating rather than correcting sharply. Sustainable improvements in affordability will ultimately depend on increasing rental supply and achieving a better balance between demand and available homes, rather than relying on seasonal shifts alone.”
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