A charity claims that young people under 25 in full-time work across England are unable to afford privately rented accommodation anywhere in the country.
The research conducted by End Youth Homelessness and Yorkshire Building Society finds that all areas in England are unaffordable for young people working full-time on minimum wage.
The research took into consideration a number of contributing factors including minimum wage, Universal Credit, and average rental costs.
The charity says, according to The Resolution Foundation, for rent to be considered ‘affordable’ it should be 35 per cent or less of a person’s wage.
The Affordability Index however shows that for young people aged 21-24 in England, working full-time and earning the minimum wage of £8.20 per hour, the average rental cost across the country is 71% of their wage.
The most affordable places in England are Liverpool and Hull where the average private rental will cost 38 per cent of the salary.
The least affordable areas in England are in London; in parts of the capital rents are apparently the equivalent of 251 per cent of the salary of a 21 to 24 year old earning the minimum wage.
A one bedroomed apartment currently on offer in Old Town would cost someone on the minimum wage of £8.20ph around 41 per cent of their salary to rent.
Nick Connolly, Managing Director of End Youth Homelessness said: “This new data lays bare the urgency of the housing dilemma faced by many young people across the country.
“The prohibitive costs associated with private renting are forcing the most vulnerable young people into desperate situations and COVID-19 has pushed even more young people closer to homelessness.
“We are proud of our award winning partnership with Yorkshire Building Society, which helps young people overcome the financial barriers holding them back from a safe place to call home.”
Young people worried about their housing situation or becoming homeless could call the Centrepoint helpline on 0808 800 0661.
