How much should you be spending on rent?

The overall proportion of the population living in rented accommodation has risen to 35%, reports the Institute for Fiscal Studies (IFS).

The average rent paid nowadays is 53% higher than in the 1990s in London, and 29% higher in the rest of Britain.

Housing charity Shelter defines affordable housing as ‘no more than 35% of your household income after tax and benefits’.

However the average household now spends 42% of their income on rent. This rises to 72% in London.

The young and people on low incomes are hit hardest by unaffordable rents. Workers under 30 spend around half of their income on rent.

So how much should you be spending?

• If you earn £10,000 after tax and benefits you should be spending £291.60 a month on rent for yourself.

• If you earn £15,000 after tax and benefits you should be spending £437.50 a month on rent for yourself.

• If you earn £20,000 after tax and benefits you should be spending £583.30 a month on rent for yourself.

• If you earn £25,000 after tax and benefits you should be spending £729.15 a month on rent for yourself.

• If you earn £30,000 after tax and benefits you should be spending £875 a month on rent for yourself.

If you are struggling, help with housing costs are available.

You can use the Turn2us Benefits Calculator to see what benefits you are entitled to.

You can also use the Turn2us Grants Search to find a charitable fund that can help.