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Daily Record
Daily Record
Lifestyle
Jacob Rawley

Most affordable place to rent in Scotland and the most expensive, according to new study

Rent on its own isn't cheap, and renting during a cost of living crisis can feel incredibly tricky - especially if you are trying to save for a deposit.

Lots of renters are trying to get on the property ladder, with recent research from the Bank of Scotland finding that Scottish homeowners are over £2,000 better off annually than those who rent. That might leave some looking to move out of pricy hotspots for areas which are more affordable.

And to find out the spots that may provide a more affordable option, experts at Alan Boswell Landlord Building Insurance analysed available date from across Scotland.

After investigation prices and areas, the team named North Lanarkshire as the most affordable place to rent, while Argyll and Bute was found to be the most expensive.

They based the study off of the per cent of income that goes into your rent, and North Lanarkshire had a median weekly income of £555.90 and a median weekly rent of £126.92. This means that - on average - someone in North Lanarkshire would be spending 22.83 per cent of their income on rent.

It can be hard to save while renting amid the cost of living crisis (Getty Images)

It was followed by Dumfries and Galloway and then nearby South Lanarkshire, handing over 22.93 per cent and 24.86 per cent of their weekly income to landlords respectively.

Five most affordable areas to rent in Scotland

Rank

Local authority

Median weekly income (£)

Median weekly rent (£)

% of income that goes to rent

1

North Lanarkshire

555.90

126.92

22.83 percent

2

Dumfries and Galloway

473.00

108.46

22.93 percent

3

South Lanarkshire

552.30

137.31

24.86 percent

4

Scottish Borders

477.40

120.00

25.14 percent

5

Perth and Kinross

532.60

138.46

26.00 percent

Five most expensive areas to rent in Scotland

On the other side of things was Argyll and Bute which saw tenants pay nearly 29 per cent of their weekly income on average.

The second and third most pricy spot went to Aberdeenshire and Fife - followed by West Lothian and East Dunbartonshire.

Rank

Local authority

Median weekly income (£)

Median weekly rent (£)

% of income that goes to rent

1

Argyll and Bute

479.30

137.88

28.77 percent

2

Aberdeenshire

528.10

150.00

28.40 percent

3

Fife

489.90

137.31

28.03 percent

4

West Lothian

535.80

150.00

28.00 percent

5

East Dunbartonshire

639.60

173.08

27.06 percent

Scotland, overall had a median income of 528.60, and a median rent of 169.85, putting it in the seventh position overall in the UK.

With high rent rates across the nation, Heath Alexander-Bew, director of personal lines at Alan Boswell Landlord Building, provided tips to keep costs down.

"Through shows like ‘The Martin Lewis Money Show’, viewers can learn useful money-saving methods like topping up and maxing out on energy meters before March 31st, ahead of the April price hike," he said.

"Check if you qualify for a tax-credit claim - For those with lower income, you may be eligible to apply for a working tax-credit (Universal Credit), which enables you to receive extra cash to help with daily expenses.

"The government’s cost of living support page provides more advice on your specific needs, including the tax-credit claims and housing cost support."

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