The latest research by the international rental marketplace, Spotahome, has revealed the current cost of renting across the London Underground by line, zone and station, to show the capital’s renters where it’s best to look to find a tube stop bargain.
Spotahome crunched the numbers looking at the average rent for property surrounding every station’s postcode on the world-famous map so that renters moving to and within London can keep costs down without moving miles from a handy tube transport link.
The data includes all rental properties located within the immediate outcode area of each station (the first half of the postcode), to show just how much it costs to rent within a short walking distance of each stop.
The DLR currently offers the best value with the average rental cost across the line coming in at £1,769, closely followed by the Metropolitan line (£1,857) and the Piccadilly Line (£1,946).
Surprisingly the Central line also ranks high for affordability with the average rent along the route currently £1,996, along with the Jubilee line (£2,048).
Despite running between just two stops, the central locations of Bank and Waterloo mean rents are high along the Waterloo and City line at an average of £3,489, with the Circle line the only other route to see the average rent exceed the £3,000 mark.
The London Underground purist probably doesn’t count anything past Zone 6 as the official tube network, but probably due to its external reaches, Zone 9 ranks as the most affordable on average with rental prices at £1,225. Although again, it consists of just two tube stops.
Perhaps more surprisingly, Zone 5 and 6 rank as the next most affordable as a whole with rents averaging £1,399 and £1,417.
Less surprisingly, Zone 1 takes the top spot for the most expensive zone with rents averaging £3,094. In fact, Zone 1 alone is 58% more expensive to rent in than Zone 2, whilst Zone 2 is 11% less affordable than Zone 3. This demonstrates how looking just a few stops further out can save you a huge amount in rent each month while remaining within touching distance of the city centre.
The most affordable station to rent around across the entire tube network at the moment is Watford at £1,057. While rents remain low due to Watford’s position on the far peripherals of the city, the town offers great value for money, a more relaxed feel, plenty of green space and good transport links into the heart of London with commutes of just 23 minutes direct to London Euston. All of which makes it popular amongst homebuyers and renters alike.
Aldgate East (£2,076) is the most affordable rental tube stop in Zone 1, with nearby Mile End the cheapest in Zone 2 (£1,309).
In Zone 3 it’s Turn Pike Lane (£1,244), with Hounslow East and West the most affordable in Zones 4 and 5 (£1,135).
At £1,173, Elm Park comes in as the best bet for London renters looking for a bargain in Zone 6.
James Kirimy, GM for Spotahome UK and Ireland, commented:
“At Spotahome our goal is to help people find and secure their new home fully digitally in just a few clicks, without having to go through the traditionally painful and lengthy physical viewing process.
We do this with a mix of great people and great tech. Our community of Homecheckers visit and verify the properties published on our platform, take photos, record high-definition videos of the property, create detailed floor plans and write property and neighbourhood descriptions so that potential renters have everything they need online to book online with peace of mind.
However, one thing in particular that every tenant wants to know when it comes to renting in London is ‘how close am I to the nearest tube stop?’
The London Underground network is the lifeline that connects the city and so finding that perfect balance of affordability and easy access is critical.”
Average rental data based on the station outcode (first half of the station postcode) to show current rental prices in the immediate area surrounding each stop. Current average rent relates to all property types and sizes in each area. Source: PropertyData
|Current Average Rent by Tube Line|
|Line||Average rent (2020)|
|Hammersmith & City||£2,186|
|Waterloo & City||£3,489|
|Current Average Rent by Zone|
|Zone||Average rent (2020)|
|Most Affordable Rental Tube Stops Across the Entire Network|
|Tube Stop||Tube Line||Average rent (2020)|
|Most Affordable Rental Tube Stops in Each Zone|
|Tube Stop||Zone||Average rent (2020)|
|Chalfont & Latimer||8||£1,600|