Average monthly room rents correct as of November 2022
With London's average room rent varying across the capital, it can be tough to keep on top of the city's ever-changing rents!
So, we've put together a handy guide to the 10 cheapest areas to flatshare in the capital, if you're looking to move to a different area on a budget.
1. Thamesmead: £638
The cheapest area to rent a room in London is Thamesmead, located just south east of the capital. Once dubbed the ‘town of the twenty-first century,’ Thamesmead is known for its canals and lakes, as the area was built on reclaimed Thames marshlands. Now full of 20th century housing, the area has received great funding in the last few years, and has big plans for regeneration and growth.
2. Manor Park: £648
Next up is Manor Park in the Borough of Newham, in east London. The area has a creative and artsy vibe, with rows and rows of Victorian and Edwardian terraced houses, and plenty of green space where locals can take a breather from city life.
3. Chingford: £651
If you’re looking for an average room rent at around the £650 mark, head on over to Chingford in north east London. With a cosy feel and community spirit, it’s known for being a middle ground between city and country life. Chingford is popular with young families and commuters, as it takes just 30 minutes on the overground to get to Liverpool Street station. Ideal!
4. East Ham: £652
Another east London spot on the list is East Ham, in the Borough of Newham. East Ham experienced a lot of investment from the 2012 Olympics, and has continued to grow and develop over the years with new shops and restaurants popping up. Property is hot around Central Park, which has its very own bowling green and three tennis courts!
5. Abbey Wood: £653
The fifth cheapest area to flatshare in London is Abbey Wood, in the south east of the city. The final stop on the brand new Elizabeth Line, making it really well connected (taking just 23 minutes to get to Liverpool Street!)
6. Upper Edmonton: £658
Upper Edmonton maintains a city feel as well as beng near the River Lea and copious green spaces. In the Borough of Enfield, Upper Edmonton has experienced a great deal of investment in new housing and regeneration, making it an exciting place to live.
7. Lee: £666
Another affordable gem is Lee in south east London, a quiet and close knit community area in the Borough of Lewisham. Attracting young families and professionals, which in turn has generated plenty of restaurants, cafes and shops for locals to enjoy. Lee has not been overly modernised, many Georgian and Victorian terraced houses have survived over the years, keeping its charm.
8. Forest Gate: £674
Next is Forest Gate in east London, another area on the Elizabeth Line with majorly improved transport links. With a cool and arty vibe, Forest Gate is full of independent pubs, bars, boutiques and shops. Head to Leytonstone Farmers’ Market nearby, where you’ll find locals buying fresh produce every Sunday.
9. Norwood: £677
Norwood is a quiet leafy green area south of the river, lesser known than its surrounding areas of Crystal Palace, Dulwich and Streatham. The area is divided into three sections: West (Lower) Norwood, South Norwood and Upper Norwood, each with their own character.
10. Penge: £680
And last but not least is Penge in south east London. An area with a rich historic heritage, Penge is a popular commuter town with a train to Victoria taking just 18 minutes! You’ll also find Penge located just off Crystal Palace Park, have we sold you yet?