A recent study conducted by Canopy, a tenant and landlord services provider, sheds light on the challenging rent affordability situation in Harrow. The report reveals that renters in Harrow allocate a staggering 45.27% of their net pay towards rent, surpassing the national average of 38%.
Harrow emerges as the fourth least affordable area in London to rent, with an average monthly rent cost per tenant amounting to £1,084. However, it is Barnet that surpasses all others, as tenants there spend a significant 48.73% of their take-home pay on rent.
Enfield, Dagenham, and Barking also feature among the top five least affordable areas to rent in London. The Canopy report, which analyzed almost 50,000 data points, highlights that the rent to income ratio in London slightly exceeds the average for the UK, standing at 39.9%.
Interestingly, Uxbridge and Bromley boast rent to income ratios in line with the national average, both hovering around 38%. Nonetheless, it remains alarming that approximately 30% of tenants across London allocate over half of their salaries towards rent.
The findings of this report underscore the difficult predicament faced by Harrow renters, who are dedicating a significant portion of their income to meet their housing needs. The data serve as a reminder of the pressing need for more affordable housing solutions and support for tenants in the area.