The 5 London postcodes where you can still rent for less than £800 per month

Renting in London is notoriously expensive, with new research revealing that renters pay £978 for a room per month, on average.

Compare that to the typical salary of a Londoner, which sits at £39,778, and the situation is pretty bleak.

But if you’re looking for a silver lining, there are still a few pockets of affordability in the capital. In fact, there are five postcodes you can call home for less than £800.

Matt Hutchinson, director at SpareRoom, who published the study, says that ‘years of intense demand on London’s limited rental stock has inflated prices and made cheap rents all too scarce.’

In his view, cheap housing in London no longer exists. ‘If you do manage to find a room at £800 per month you’d still need to be earning a salary of £32,000 a year to afford the rent.’

So where are these magical sub-£800 neighbourhoods? Here’s are the spots to start house-hunting in…

E6 – East Ham

Found in the Borough of Newham, the average rent in E6, which covers East Ham, is now £727.

Beware, though: parts of Newham have been dubbed some of the capital’s stinkiest streets, thanks to the sewage treatment works nearby.

Some residents have previously said they ‘can’t sleep’ because it’s so intensely pongy. Delightful.

If you can get past the stench, though, East Ham has ample green space, including Central Park and Flanders Playing Fields, as well as direct access to the Greenway Walking Trail.

There’s also a giant indoor playground and trampoline park at Flip Out, if you’re looking for a family friendly spot.

E12 – Manor Park

Also in East London, Manor Park (E12) has average rents of £731 — just £4 more expensive than its E6 neighbour.

This means that rents in this area are more akin to the situation pre-pandemic, when the going rate across London was £773.

In the first quarter of 2020 specifically, as many as 81 postcodes actually had sub-£800 rents, and an extra 50 even below £700 per month.

Oh, how times have changed.

Tempted to move to the area? You’ll be right by Wanstead Flats, which feed into Leyton Flats. Basically, if you want a walk, you’re sorted.

There’s also an Oxfam Bookshop, an M&S, and a golf club, for good measure.

E4 – Chingford

When it comes to cheap rentals, it seems East London is carrying the capital’s weight on its back, as the going rate in E4 is £764.

That’s not the only bell Chingford is ringing in the property world.

Previously dubbed London’s coolest neighbourhood by Time Out, it’s the birthplace of both David Beckham and Harry Kane.

Here, there are pubs and green walks aplenty, as well as decent transport links (including the uber-speedy Victoria Line at Walhamstow Central).

Again, leafy Chingford is spoilt for green space too, as it backs right onto the 6,000-acre-strong Epping Forest.

There are also Instagrammable viewpoints available at Pole Hill, while one of the area’s most famous landmarks, Queen Elizabeth’s Hunting Lodge, dates back to 1543.

N18 – Upper Edmonton

East London isn’t the only area dominating the research, but, noticeably, both South and West London aren’t on the list.

Next, Enfield’s Upper Edmonton (N18) has average rents of £774.

It’s also right on the border between North and East, as it’s only separated from Chingford by the William Girling Reservoir.

Shopping-wise, there’s the Edmonton Green Shopping Centre, plus a few high street staples, like B&M.

E7 – Forest Gate

Another name in the East London game, the average renter in Forest Gate (E7) can expect to pay £781 per month for their humble abode.

And while this might be the priciest on the sub-£800 list, it’s certainly much cheaper than other tenants are shelling out for, when you consider that this is actually £197 cheaper than the going rate across the capital..

Should you find yourself in Forest Gate in the near future, you’ll be pleased to know that there are plenty of transport links, including the Elizabeth Line, plus the Overground at Wanstead Park.

Plus, further towards West Ham, there’s local legend, Earl’s, a sandwich shop dishing out Szechuan Hot Pot beef and egg fried rice sarnies.

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