As the country returns to some level of normalcy, the big question is just how the London rental market has withstood the ravages of the pandemic. We know that Covid-19 drove average central London rents down by 13%, and that some areas even saw them drop by as much as 22% - great for renters, not so great for landlords.
For any landlords out there, there is no need to panic. With renter registrations back up a staggering 44% from last year, it is only a matter of time until balance is restored, and the more life returns to business-as-usual, the more tenants will return to the inner boroughs of London.
For renters, now is a good time to get a great deal on a rental property. But, the question is, where?
The cheapest places to rent in London
Here at Portico, we have analysed 26,417 rental properties currently available on Rightmove* throughout all 32 London boroughs, breaking down the most affordable places to rent in and around the capital. We have found that the average rental price in London is currently £1,832 per month, with the average rental for a two-bedroom property at £1,800 pcm.
Below is a tale of all 32 London boroughs, ranked from cheapest to most expensive**. We have ranked these boroughs by their average 2 bedroom rental prices, but have included other important market statistics for your consideration. We hope this helps in your rental search - or for landlords, your investment strategy.
1. Bexley
Average 2-bedroom monthly rental price: £1,243
Number of current 2 bedroom rental listings: 73
Average rental price for the borough: £1,358
Rental price range: £680 - £12,350
View properties to rent in Bexley.
2. Sutton
Average 2-bedroom monthly rental price: £1,313
Number of current 2 bedroom rental listings: 96
Average rental price for the borough: £1,262
Rental price range: £500 - £1,313
View properties to rent in Sutton.
3. Croydon
Average 2-bedroom monthly rental price: £1,341
Number of current 2 bedroom rental listings: 377
Average rental price for the borough: £1,274
Rental price range: £550 - £4,000
View properties to rent in Croydon.
4. Hillingdon
Average 2-bedroom monthly rental price: £1,375
Number of current 2 bedroom rental listings: 284
Average rental price for the borough: £1,427
Rental price range: £465 - £5,995
View properties to rent in Hillingdon.
5. Barking and Dagenham
Average 2-bedroom monthly rental price: £1,377
Number of current 2 bedroom rental listings: 123
Average rental price for the borough: £1,388
Rental price range: £700 - £3,683
View properties to rent in Barking and Dagenham.
6. Bromley
Average 2-bedroom monthly rental price: £1,400
Number of current 2 bedroom rental listings: 175
Average rental price for the borough: £1,393
Rental price range: £540 - £5,800
View properties to rent in Bromley.
7. Redbridge
Average 2-bedroom monthly rental price: £1,404
Number of current 2 bedroom rental listings: 212
Average rental price for the borough: £1,401
Rental price range: £425 - £15,000
View properties to rent in Redbridge.
8. Harrow
Average 2-bedroom monthly rental price: £1,428
Number of current 2 bedroom rental listings: 302
Average rental price for the borough: £1,435
Rental price range: £498 - £9,000
View properties to rent in Harrow.
9. Waltham Forest
Average 2-bedroom monthly rental price: £1,458
Number of current 2 bedroom rental listings: 193
Average rental price for the borough: £1,506
Rental price range: £500 - £23,000
View properties to rent in Waltham Forest.
10. Lewisham
Average 2-bedroom monthly rental price: £1,483
Number of current 2 bedroom rental listings: 326
Average rental price for the borough: £1,434
Rental price range: £500 - £1,483
View properties to rent in Lewisham.
11. Enfield
Average 2-bedroom monthly rental price: £1,490
Number of current 2 bedroom rental listings: 153
Average rental price for the borough: £1,638
Rental price range: £500 - £17,996
View properties to rent in Enfield.
12. Kingston-Upon-Thames
Average 2-bedroom monthly rental price: £1,551
Number of current 2 bedroom rental listings: 167
Average rental price for the borough: £1,755
Rental price range: £625 - £13,500
View properties to rent in Kingston.
13. Barnet
Average 2-bedroom monthly rental price: £1,575
Number of current 2 bedroom rental listings: 385
Average rental price for the borough: £1,801
Rental price range: £450 - £19,933
View properties to rent in Barnet.
14. Haringey
Average 2-bedroom monthly rental price: £1,602
Number of current 2 bedroom rental listings: 346
Average rental price for the borough: £1,571
Rental price range: £545 - £8,450
View properties to rent in Haringey.
15. Ealing
Average 2-bedroom monthly rental price: £1,642
Number of current 2 bedroom rental listings: 355
Average rental price for the borough: £1,659
Rental price range: £600 - £11,950
View properties to rent in Ealing.
16. Greenwich
Average 2-bedroom monthly rental price: £1,653
Number of current 2 bedroom rental listings: 431
Average rental price for the borough: £1,606
Rental price range: £490 - £6,977
View properties to rent in Greenwich.
17. Brent
Average 2-bedroom monthly rental price: £1,667
Number of current 2 bedroom rental listings: 377
Average rental price for the borough: £1,617
Rental price range: £500 - £7,000
View properties to rent in Brent.
18. Newham
Average 2-bedroom monthly rental price: £1,667
Number of current 2 bedroom rental listings: 381
Average rental price for the borough: £1,628
Rental price range: £525 - £6,864
View properties to rent in Newham.
19. Hounslow
Average 2-bedroom monthly rental price: £1,689
Number of current 2 bedroom rental listings: 364
Average rental price for the borough: £1,662
Rental price range: £500 - £7,000
View properties to rent in Hounslow.
20. Merton
Average 2-bedroom monthly rental price: £1,701
Number of current 2 bedroom rental listings: 279
Average rental price for the borough: £2,029
Rental price range: £525 - £17,500
View properties to rent in Merton.
21. Lambeth
Average 2-bedroom monthly rental price: £1,885
Number of current 2 bedroom rental listings: 382
Average rental price for the borough: £1,867
Rental price range: £675 - £9,967
View properties to rent in Lambeth.
22. Hackney
Average 2-bedroom monthly rental price: £1,912
Number of current 2 bedroom rental listings: 366
Average rental price for the borough: £1,848
Rental price range: £580 - £10,883
View properties to rent in Hackney.
23. Islington
Average 2-bedroom monthly rental price: £1,938
Number of current 2 bedroom rental listings: 380
Average rental price for the borough: £1,889
Rental price range: £607 - £14,998
View properties to rent in Islington.
24. Richmond-Upon-Thames
Average 2-bedroom monthly rental price: £1,949
Number of current 2 bedroom rental listings: 378
Average rental price for the borough: £2,567
Rental price range: £480 - £50,000
View properties to rent in Richmond.
25. Tower Hamlets
Average 2-bedroom monthly rental price: £1,975
Number of current 2 bedroom rental listings: 382
Average rental price for the borough: £1,899
Rental price range: £625 - £8,667
View properties to rent in Tower Hamlets.
26. Southwark
Average 2-bedroom monthly rental price: £2,051
Number of current 2 bedroom rental listings: 427
Average rental price for the borough: £1,964
Rental price range: £633 - £14,300
View properties to rent in Southwark.
27. Wandsworth
Average 2-bedroom monthly rental price: £2,121
Number of current 2 bedroom rental listings: 454
Average rental price for the borough: £2,116
Rental price range: £542 - £27,083
View properties to rent in Wandsworth.
28. Hammersmith and Fulham
Average 2-bedroom monthly rental price: £2,179
Number of current 2 bedroom rental listings: 395
Average rental price for the borough: £2,242
Rental price range: £802 - £14,517
View properties to rent in Hammersmith and Fulham.
29. Camden
Average 2-bedroom monthly rental price: £2,257
Number of current 2 bedroom rental listings: 368
Average rental price for the borough: £2,235
Rental price range: £600 - £14,083
View properties to rent in Camden.
30. Westminster
Average 2-bedroom monthly rental price: £2,921
Number of current 2 bedroom rental listings: 351
Average rental price for the borough: £3,289
Rental price range: £750 - £86,667
View properties to rent in Westminster.
31. Kensington and Chelsea
Average 2-bedroom monthly rental price: £3,100
Number of current 2 bedroom rental listings: 412
Average rental price for the borough: £3,298
Rental price range: £650 - £65,000
View properties to rent in Kensington and Chelsea.
32. City of London
Average 2-bedroom monthly rental price: £3,284
Number of current 2 bedroom rental listings: 113
Average rental price for the borough: £2,578
Rental price range: £1,000 - £16,250
View properties to rent in the City of London.

Where are the cheapest 2 bedroom rental properties in London?
Of the more generally affordable areas for 2 bedroom pads, let's dive further into the specific areas currently hosting the best deals for that property type:
In Bexley, the lowest priced 2 bedroom properties are in Erith and BelvedereIn Sutton, the lowest priced 2 bedroom properties are in Worcester ParkIn Croydon, the lowest priced 2 bedroom properties are in Coulsdon In Hillingdon, the lowest priced 2 bedroom properties are in Ickenham, Ruislip and SipsonIn Barking and Dagenham, the lowest priced 2 bedroom properties are in Chadwell Heath and Rush Green Where are the cheapest individual rental properties in London?
Though ranking boroughs by their average two-bedroom property values gives a more accurate assessment of which areas are the cheapest, we also looked at the borough-wide average rental price across all property types.
The top five London boroughs with the lowest average rental prices across all property types are:
- Sutton - with an average rental price of £1,262
- Croydon - with an average rental price of £1,274
- Bexley - with an average rental price of £1,358
- Barking and Dagenham - with an average rental price of £1,388
- Bromley - with an average rental price of £1,393
The below table shows all 32 London boroughs ranked by their average rental price across all property types, in ascending order.

The top five cheapest individual rentals currently on the market are in Redbridge, Barnet, Hillingdon, Richmond-Upon-Thames, and Greenwich, ranging from £425 - £490 per month respectively.
The areas of Redbridge, Hillingdon and Sutton may represent a particularly good bang-for-your-buck, with all of them coming in with favourably low average rental prices across all listing types.
Areas narrowly missing a spot on the top five list for cheapest individual listings include Harrow, Sutton, Waltham Forest, Lewisham, Enfield, Brent and Hounslow, all with a current rental listing marketed at £500 per month.
Where are the most expensive rental properties in London?
The top three boroughs for the highest overall average rental prices are:
- Kensington and Chelsea - with an average rental price of £3,298
- Westminster - with an average rental price of £3,289
- City of London - with an average rental price of £2578
At the time of writing this article, Knightsbridge holds the top spot for highest current individual listing, a palatial 5 bedroom townhouse in Montpelier Square - only a cool £86,667 per calendar month and it’s yours to hang your hat in.
A five year glimpse at the rental market in London
A recently completed 5 year study by Rightmove on the London rental market is revealing some interesting statistics. Areas of inner London are seeing asking rents down by 6.5% compared to Q1 2016, whilst the asking rents in Outer London are holding their own, up by 2%.
The greatest five-year increase was in Hammersmith, with asking rents at 12% higher than 2016, although the increase occurred between 2016 and 2020 - the current rental prices are down 19% from this time last year.
Meanwhile, the biggest rental drop in the capital is Finsbury, with rental asking prices down 24% from 2016, while the number of Finsbury rental properties currently on the market is up 76% from a year ago.
Data from the study does spell some good news for prospective tenants looking to rent in London, with areas previously unaffordable now opening up as new options. The biggest decline witnessed in cash terms is Knightsbridge, where average rental prices - while still a hefty £6,221 pcm - are down £1,246 from five years ago.
A stark contrast to the rest of the country can be found in the stock availability figures. The strong country-wide demand has led to stock percentages being down 54%, while in the capital it is up by 19%.
Related: Property Market Forecast & Review

A good time to invest or rent
For landlords and prospective tenants alike, it can certainly be a good time to consider investing. There are always the traditionally cheaper places on the market, but currently also a good number of properties that are much cheaper than in previous years, thanks to the lingering Covid impacts.
Some of the more traditionally expensive areas are currently incredibly good value and therefore can also represent a great opportunity for tenants to lock in good deals and negotiate longer lease terms.
Get in touch if you’re looking for your next home!
These recent times may have been turbulent, but the property market has shown great resilience despite some sizable shifts. It has been a worrying time for landlords and a confusing time for renters as they assess when and where to relocate to.
That said, there is the promise of new beginnings as the vaccine roll-out succeeds in making the pandemic chaos a thing of the past, and we should start to see the dust settle. In the meantime, there are some great deals to be had.
If you’re interested in renting in London, check out all our available London properties to rent here. If you’re a landlord, check out our online rental calculator to see if you’re charging the right right, or get an instant property valuation to check the current value of your rental property. For all other enquiries or questions, give our friendly team a call on 020 7099 4000.
*Data correct as of May 11 2021. The data analysed includes all current rental properties on Rightmove excluding house shares, HMOs, garages, parking spots and retirement property.
**Rightmove caps scraping to 42 pages for a large number of results, which is 1,200 properties per borough. So for the areas with more properties than 1,200 currently on the market, we have capped the range of properties analysed to 1,200. We have selected the first 1,200 'newest' properties in that area to give a fair assessment of average rental prices in the area.