A recent report from the Office for National Statistics has revealed that the average monthly rent in St Albans rose by 8.4 per cent in the last year.
The average monthly private rent in the area was £1,772 in September 2024, up from £1,635 in September 2023.
This rise is four percentage points higher than the national average. Across Great Britain, the average rent price in September 2024 was £1,295 – meaning that St Albans residents pay £5,724 more annually.
The 2021 census revealed that 16.3 per cent of St Albans residents live in privately rented accommodation.
Rent increases become a problem when the rate of rent rise outpaces a person’s wage growth. Currently, the two are not positively correlated.
Photo credit: ONS
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