London Living Rent: Costs and Affordability

How much is the rent on London Living Rent homes?

London Living Rent homes provide a stepping stone for eligible middle-income in the capital. The intermediate housing scheme has been designed to help budding buyers save money towards buying a home through the Shared Ownership scheme.

The London borough you choose to live in will be a contributing factor in determining the amount of rent you’ll pay.

According to the Office for National Statistics, in 2024-25 the average rent for a two-bedroom London Living Rent property is approximately £1,267 per month, which is about two-thirds of the average market rent for April 2024 (£1,976).

The Mayor of London releases benchmark London Living Rent levels for every neighbourhood each year, calculated using one-third of average local household incomes and adjusted based on the number of bedrooms in the home. This means that homes in most boroughs will be offered at a significant discount when compared to market level rent.

To maintain the affordability of family-sized London Living Rent homes for eligible Londoners, the rent for a three bedroom home will be capped at no more than 10% above the rent of a two bedroom property.

What should I know about London Living Rent tenancy terms and rent increases?

London Living Rent homes will be offered on Assured Shorthold Tenancies, with rent increases capped at the rate of CPI inflation each year. Upon re-letting, the rent must return to the applicable London Living Rent level or lower.

Where the Greater London Authority (GLA) are involved, the GLA will encourage housing providers to support as many households as possible throughout the lifetime of each London Living Rent apartments or houses. Furthermore, the GLA does not expect tenants to have to move for at least three years from the start of their tenancy to ensure more stability.

For housing providers offering London Living Rent homes without direct involvement from the GLA, the providers can define their own appropriate tenancy terms.

Where should I start my London Living Rent search?

Have you found the information you need about the London Living Rent scheme, including what it is and the eligibility criteria? If so, now comes the time to start looking for your new home on our property search tool!