The cost of renting a room in London has reached a depressing milestone

A new study has looked at the average cost of renting a room in London (Picture: Getty Images)

Renting in London has many complex layers to it – whether it’s extortionate prices, the mental cost of navigating flatmates, or begging your landlord to reply to your texts about the broken washing machine.

Now, depressing new statistics show the average rent for a room in the capital has officially tipped over the £1,000 threshold.

Yes, that’s the figure for a room in a house share, rather than an entire property.

The average room in the capital now costs £1,002 per month (Picture: Getty Images)

The study, from renting website SpareRoom, shows the average cost of a room in inner London is now £1,002 per month.

According to Matt Hutchinson, SpareRoom’s director, this means renters will need to have a gross salary of at least £40,000 to be able to afford this amount.

He said: ‘That excludes many, including some essential and service workers, and young people starting their careers.

‘Choked supply increases rents, so tumbling rental stock in the capital should concern everyone, as should the absence of any plan to improve the situation. The Government must acknowledge the problem and do everything in its power to encourage and incentivise new supply.’

The study also looked at the most expensive parts of the capital to rent in, with many of the top spots given to the city’s prime postcodes.

SW7, which covers areas including South Kensington and Knightsbridge, is currently experiencing an average rental price of £1,682 – considerably higher than the general figure for London.

W1, spanning the West End and Soho, is a similarly costly situation, at £1,519 per month, while Chelsea is averaging out at £1,472.

Renters now need to be making a minimum of £40,000 per year (Picture: Getty Images)

However, amid such gloom, there’s always hope. There are still plenty of areas where the rents aren’t touching that dreaded £1,002 figure, as the cheapest area for tenants is currently E12, which covers Manor Park.

Here, the general situation is more like £752 for a room, and while still not an insignificant amount of money, it’s almost £300 less than the average.

Other places to consider include East Ham (E6), where renters are typically paying £755 per month, while Winchmore Hill (N21) rounds out at £761.

As for Plaistow, also in East London, the figure is £789.

It wouldn’t be a bad idea to move to E13, either.

Despite being deemed ‘unfashionable’ by estate agents, it’s all set to change for Plaistow, which topped a list of ‘surprising’ locations worth investing by Nathan K Real Estate owner, Nathan Khider.

‘East London is always a desirable area and will continue to attract first-time buyers and investors drawn to its affordability and ongoing regeneration,’ he previously told Metro.

‘Young people are being priced out of Hackney, which has become gentrified and really expensive. Instead, Mile End, Plaistow, Canning Town and Stratford offer much better value for money.’

Do you have a story you’d like to share? Get in touch by emailing MetroLifestyleTeam@metro.co.uk

Comments Add as preferred source