Rent in London is known to be costly with many choosing to save some money and move to commuter towns outside the capital.
But now new research has revealed the cheapest places to rent a home in London with some costing £1,000 less than the most expensive in the region.
According to research carried out by MyLondon, South London’s Croydon had the cheapest average rent in the capital.
Croydon also had the second lowest level for the percentage of the amount that local residents spend on rent.
Finding that the median rent in Croyden is £1,200 with the median earning in the region at £34,225 seeing 42 per cent of wages spent on rent.
London’s cheapest boroughs to rent a home revealed
MyLondon also found that the borough with the lowest amount of wage spent on rent was Bromley.
As research found that in Bromley the average rent was £1,300 and the wage was £37,749 showing just 41 per cent of wages go towards rent.
Speaking to MyLondon, Daniel Copley, Consumer Spokesperson at Zoopla said: “Aside from properties in Bromley and Croydon providing better value for money in comparison to Central London, another big perk is the excellent transport connections provided by both locations to stations like London Bridge, Victoria and St Pancras.”
Adding: “Gatwick Airport can also be reached in just 28 minutes from East Croydon thanks to the Gatwick Express.”
Rent in the boroughs of Croydon and Bromley was around £1,000 cheaper than the most expensive areas to rent in London, Kensington and Chelsea where rent is £2,300.