Cost of renting a room in London surges past £1,000 – how much is it in your area?

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Londoners struggling with sky-high rents won’t be surprised to hear the cost of renting a room in the capital has returned to within just £1 of its all-time high.

New figures from SpareRoom reveal that average monthly room rents in inner London reached a staggering £1,002 in the third quarter of 2026 — just shy of the record £1,003 set in the final three months of 2023.

And while tenants are being forced to fork out more for a room, the number of properties available to rent is also shrinking.

The latest data shows that room availability has fallen by 7.3 per cent year-on-year in inner London and 1.7 per cent in outer London, piling further pressure on renters already battling eye-watering housing costs.

Some of the steepest rent increases have been recorded in south-west and south-east London, with areas including Wandsworth, Richmond, Wimbledon, Greenwich and Dulwich among those seeing the biggest rises.

But there is a glimmer of hope for Londoners hunting for a more affordable room, with some areas in east and north-east London still offering rents below £800 a month.

According to SpareRoom’s figures, east London is the cheapest postcode region overall, with average monthly room rents of £958.

That compares with £1,065 in south-west London, meaning tenants could save £107 a month — or £1,284 a year — by choosing to live in the east of the capital.

Here’s how average room rents compare across London’s postcode areas

The figures come as London’s private rental market remains gripped by a prolonged housing crisis, with soaring costs and a dwindling supply of available rooms continuing to squeeze tenants.

The Standard has previously reported on the capital’s private renting crisis, as fierce competition for properties leaves many Londoners struggling to find somewhere affordable to live.

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And while the Renters’ Rights Act has introduced many protections for tenants, including measures to outlaw no-fault evictions and rental bidding wars, concerns have emerged that some landlords are finding new ways to push up asking prices.

Letting agency Hello Neighbour has reported that some landlords are now setting their initial asking rents significantly higher in response to the ban on rental bidding wars.

Rather than allowing competing offers from prospective tenants to drive up the final price, landlords are reportedly building those increases into their advertised rents from the outset.

It means renters could face even steeper asking prices before they have so much as booked a viewing, adding to the financial strain on Londoners already paying near-record amounts for a room.

Matt Hutchinson, director at flatshare site Spareroom said: “With average rents now into four figures, to affordably rent an average room in a London flatshare people will need a gross salary of at least £40K. That excludes many, including some essential and service workers, and young people starting their careers.

“Choked supply increases rents, so tumbling rental stock in the capital should concern everyone, as should the absence of any plan to improve the situation.

“The Government must acknowledge the problem and do everything in its power to encourage and incentivise new supply.”