Average rent in Southwark
The average private rent in Southwark was £2,516 a month in September 2026, +7.3% on a year earlier. A two-bedroom home costs £2,387, 86% above the UK average of £1,287 and 7% above the average for London. It is the 9th most expensive of 32 areas in London. Over the past year, 3 bed homes rose fastest (+7.6%).
Rent by number of bedrooms
Average monthly private rent (pcm).
Salary needed to rent in Southwark
Two common tests: rent at no more than 30% of gross income, and the letting-agent referencing check of an annual income at least 30× the monthly rent.
| Home | Rent (pcm) | Salary for 30% rule | Agent check (30× rent) |
|---|---|---|---|
| 1 bedroom | £1,907 | £76,280 | £57,210 |
| 2 bedrooms | £2,387 | £95,480 | £71,610 |
The median full-time salary for Southwark residents is £48,681 (2025, £25.22 an hour). A one-bedroom at the average rent takes 47% of that before tax, above the 30% guideline.
Renting vs buying in Southwark
How rents in Southwark have changed
Average rent is +43.8% since 2016.
| Year | Average rent | 2 bed |
|---|---|---|
| 2026 | £2,516 | £2,387 |
| 2025 | £2,345 | £2,224 |
| 2024 | £2,279 | £2,155 |
| 2023 | £2,104 | £1,992 |
| 2022 | £1,921 | £1,822 |
| 2021 | £1,813 | £1,723 |
| 2020 | £1,873 | £1,784 |
| 2019 | £1,801 | £1,719 |
| 2018 | £1,815 | £1,740 |
| 2017 | £1,776 | £1,703 |
| 2016 | £1,750 | £1,684 |
Areas with similar rents
| # | Area | Region | 1 bed | 2 bed | 3 bed | Change (12m) |
|---|---|---|---|---|---|---|
| 1 | Lambeth | London | £1,890 | £2,353 | £2,696 | +3.4% |
| 2 | Tower Hamlets | London | £1,998 | £2,427 | £2,760 | +3.8% |
| 3 | Wandsworth | London | £1,943 | £2,469 | £2,818 | +4.1% |
| 4 | Hackney | London | £2,007 | £2,498 | £2,856 | +3.9% |
| 5 | Richmond upon Thames | London | £1,744 | £2,237 | £2,703 | +5.4% |
| 6 | Camden | London | £2,063 | £2,634 | £3,071 | +1.4% |
Frequently asked questions
What is the average rent in Southwark?
The average private rent in Southwark was £2,516 a month in September 2026, up 7.3% on a year earlier. A one-bedroom averaged £1,907 and a two-bedroom £2,387 (ONS Price Index of Private Rents).
What salary do you need to rent in Southwark?
To keep a £1,907 one-bedroom rent within 30% of gross income you need about £76,280 a year. Letting agents usually ask for an annual income of 30 times the monthly rent, which is £57,210. The median full-time salary for residents is £48,681.
Is Southwark expensive to rent compared with the rest of the UK?
A two-bedroom in Southwark costs £2,387 a month, 86% above the UK average of £1,287. It ranks 274 of 282 larger UK areas from cheapest to most expensive.
Rents: ONS Price Index of Private Rents (September 2026), average of new and existing private tenancies — official statistics in development. House prices: HM Land Registry UK House Price Index. Pay: ONS Annual Survey of Hours and Earnings, median gross pay of full-time employees by place of residence. Contains public sector information licensed under the Open Government Licence v3.0. See our methodology.