Rental price and average salary tracker – March 2026
Rents Plateau, But UK Market Tells Regional Story
- Significant comparisons include across Scotland where average agreed rents rose to £1,123, representing a 4.95% increase month and month across the nation.
- Northern Ireland saw the second largest average monthly rents rise, bringing an increase of 3.99% to an average agreed price of £887 compared to £853 for the month previously.
- In contrast, London saw a slight dip of 1.5% from £2226 to £2193 in average agreed monthly rental costs between February 2026 and March 2026. While the West Midlands remained static month on month.
- Year-on-year salary requirements continue to show diversity across the UK, with the average household salary needed across Wales to rent a property jumping upward from £29,970 to £31,320. However, across Northern Ireland, this figure decreased from £28,290 to £26,610, representing a 5.94% decrease in household income needed.
Overall, the rental market across the UK remains nonlinear from region to region, with some areas showing rental prices gowning broadly in line with inflation and some diverging away from what might typically be expected.
It is important to consider consumer affordability across the remainer of the year, with aspects such as upward movement in the rate of inflation expected and potential pressure on energy prices likely to play key influence over coming months.
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.
March 2026:
| Location | Average rental price | Representative average annual salary needed to secure the average-priced home (before tax and any deductions) |
| Scotland | £1,123 | £33,690 |
| Northern Ireland | £887 | £26,610 |
| Wales | £1,044 | £31,320 |
| East Midlands | £979 | £29,370 |
| East of England | £1,324 | £39,720 |
| London (inner and outer London) | £2193 | £65,790 |
| North East | £862 | £25,860 |
| North West | £1,089 | £32,670 |
| South East | £1495 | £44,850 |
| South West | £1,309 | £39,270 |
| West Midlands | £1,040 | £31,200 |
| Yorkshire and Humberside | £945 | £28,350 |
March 2025 (for comparison):
| Location | Average rental price | Representative average annual salary needed to secure the average-priced home (before tax and any deductions) |
| Scotland | £1,082 | £32,460 |
| Northern Ireland | £943 | £28,290 |
| Wales | £999 | £29,970 |
| East Midlands | £992 | £29,760 |
| East of England | £1,345 | £40,350 |
| London (inner and outer London) | £2,226 | £66,780 |
| North East | £875 | £26,250 |
| North West | £1069 | £32,070 |
| South East | £1496 | £44,880 |
| South West | £1332 | £39,960 |
| West Midlands | £1,050 | £31,500 |
| Yorkshire and Humberside | £936 | £28,080 |
Change seen in the average salary required year on year:
| Location | March 2025 – typical annual salary needed to secure a home (before tax and deductions) | March 2026 – typical annual salary needed to secure a home (before tax and deductions) | % change in salary needed |
| Scotland | £32,460 | £33,690 | +3.79% |
| Northern Ireland | £28,290 | £26,610 | -5.94% |
| Wales | £29,970 | £31,320 | +4.50% |
| East Midlands | £29,760 | £29,370 | -1.31% |
| East of England | £40,350 | £39,720 | -1.56% |
| London (inner and outer London) | £66,780 | £65,790 | -1.48% |
| North East | £26,250 | £25,860 | -1.49% |
| North West | £32,070 | £32,670 | +1.87% |
| South East | £44,850 | £44,850 | 0.00% |
| South West | £39,960 | £39,270 | -1.73% |
| West Midlands | £31,500 | £31,200 | -0.95% |
| Yorkshire and Humberside | £28,080 | £28,350 | +0.95% |
Average monthly rental price month-on-month comparison (February 2026 – March 2026):
| Location | Average monthly rental price – February 2026 | Average monthly rental price – March 2026 | Percentage change (difference from Jan to Feb) |
| Scotland | £1,070 | £1,123 | +4.95% |
| Northern Ireland | £853 | £887 | +3.99% |
| Wales | £1,043 | £1,044 | +0.10% |
| East Midlands | £1,027 | £979 | -4.67% |
| East of England | £1,324 | £1,328 | +0.30% |
| London (inner and outer London) | £2,226 | £2193 | -1.48% |
| North East | £908 | £862 | -5.07% |
| North West | £1,102 | £1,089 | -1.18% |
| South East | £1,521 | £1495 | -1.71% |
| South West | £1,372 | £1309 | -4.59% |
| West Midlands | £1,040 | £1,040 | 0.00% |
| Yorkshire and Humberside | £954 | £945 | -0.94% |
Megan Eighteen, President of ARLA Propertymark (Association of Residential Letting Agents), comments:
“The rental market remains dynamic across many regions when viewed on a month-by-month basis. Price fluctuations are driven by a range of factors, including the volume and type of properties available at any given time, as well as local employment opportunities and their influence on demand. Together, these elements shape how consumers assess their options.
“Overall, rental inflation has been slowing since late 2024 on a year-on-year basis. However, looking ahead, it is important to consider ongoing global uncertainty and the potential impact this may have on the UK economy in the short to medium term, particularly in relation to household affordability.
“At present, it is still too early to determine the future direction of the rental market. A wide range of variables remain in play, including the full impact of recent legislative changes, which has yet to be realised, alongside broader economic pressures that have not yet fully filtered down to consumers.”
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