Towns and cities with smaller population sizes are home to some of the highest average rents, research from ideal flatmate has found.
Unsurprisingly major cities with a population above 500,000 people, and thus attract the greatest level of tenant demand, see the highest rents. This cities such as London, Leeds, Sheffield and Manchester.
However some of the smallest towns and cities, where the population sits between 50,000 to 100,000, are home to an average rental cost of £732, climbing to £807 in towns and cities with a population of between 100,000 and 150,000.
This increases further still to £830 per month for a population between 150,000 and 200,000.
However, at this point the average cost of renting drops notable with towns with a population of between 200,000 and 250,000 home to an average rent of just £688.
The average rent then drops again to £670 for towns and cities with a population between 250,000 to 300,000.
But even better value for tenants are towns and cities with a population between 300,000 and 500,000, with the average rental cost at just £628 per month, with the highest average rent marginally over £1,000 and the lowest just below £500.
This means that cities such as Liverpool, Bristol, Cardiff, Coventry and Nottingham offer some of the best value for tenants.
Tom Gatzen, co-founder of ideal flatmate, said: “While population size can be a driving factor behind demand for rental properties the data shows that more people doesn’t necessarily mean higher rents.
“Although a supply-demand imbalance can push rents up, it would seem that there is a sweet spot where rental costs remain pretty tenant friendly without the need to ditch the big city lifestyle.”