The London Economic

Top 10 Cheapest Places to Rent in London

Find out the cheapest places to rent in London

Let’s face it nowhere in London is cheap to rent. However, there are still relative bargains to be found in every area, even the most exclusive postcodes (you know, the purple ones on a monopoly board?). We’ve compiled a list of the cheapest places to rent in London to help you find the best place to live for your budget.

Our Top 10 cheapest places to rent in London list includes up-and-coming areas, bargains in the more expensive parts of town, and the all-round cheapest places to rent in the capital.

Top 10 cheapest places to rent in London


Pedleysd [Public domain] via Wikimedia Commons

Stratford has perhaps undergone the largest facelift in London over the past decade.  The once downmarket industrial wasteland was completely revitalised by the 2012 Olympics and is now the hip home of the wonderful Olympic Park and popular Westfields shopping centre.

This area remains extremely easy to access and good for commuters.  There are still some bargains to be found in Stratford.

We found One house here going for a mind-blowing £450 a month! Arthingworth street, London. E15. This area is only five minutes away from a station, so can easily house somebody who needs to commute. The area is perfect for students and workers alike.

This is very cheap for what is on offer so what’s the catch? This property is rented as part of the Property Guardian scheme, which fills properties for investors who don’t want empty vulnerable empty properties.  They want to fill their buildings with people they know will look after them, rather than leaving them vulnerable to vandalism or squatting.

They ask for full proof of ID, proof of income for the past three months and proof of address.

South Kensington

By Tony Hisgett [CC via Wikimedia Commons]

OK, so South Kensington wouldn’t be the first place you would expect on a list of the cheapest places to rent in London. However, Cranley Gardens, SW7 3DE, is a relatively low cost option for those wanting to live at an exclusive address.

South Kensington is seen as a treat to live in. Kensington as a whole is packed to the brim with historical places of interest and museums as far as the eye can see. This makes South Kensington an area to live in with character. Even looking around, you will never be bored.

The studio rooms at Cranley Gardens are located in a very popular location, This means they are not far away from local shops in Brompton road and Fulham road. As well as this, they are placed at a (relatively) affordable price, and provide everything needed for a budding entrepreneur or anyone new to London, as It is especially useful for its transport links. The most affordable ones can go from £1409 pcm


Tarquin Binary via Wikimedia Commons

Hackney has been on the up-and-coming list for so long, some would argue it’s been gentrified to beige. However, Hackney found itself voted the best area to live in by the Sunday times.

Hackney certainly has a one of a kind character, with an urban look, along with art everywhere on the walls. Rental prices are still low compared to the London average.

This house, containing flats, is described as being ‘period’. The bathrooms and kitchens are in good condition, and the flats are moments away from transport links, and the nearest stations are Hackney central and Homerton. A ground flat at this location would cost £997 pcm. This is a good area for a single person, and is especially affordable, meaning your valuable funds can be spent elsewhere.


Greenwich is another area you might not expect on the list of cheapest places to rent in London.  However, tucked behind the more exclusive roads are some hidden, and lower priced, gems.

The area is described as being nothing like the rest of London, according to people who live in the area. It is seen as a refuge from the towering buildings of London while maintaining the easy access from the other side of the river Thames. This area is perfect for students.

Old fire station, Greenwich SE10. The studio Apartment includes a kitchenette, Wi-Fi, and is completely furnished, meaning students have more time to focus on work and less time worrying about costs and furnishings. A studio apartment here can go for as little as 750 pcm.


Mkimemia [Public domain]

Lewisham is a cosmopolitan area that still clings onto the old East London feel. It’s a is a major local transport hub with its own large bus station, railway station and Docklands Light Railway. London Underground lines run into the north of the borough at New Cross station and New Cross Gate station.  It’s a great location for anyone seeking (relatively) low cost living with good transport links.

Northbrook road is the area perfect for a balancing work and social life. With transport links less than a mile away, you can get to work anywhere in London. There is also a school near to the area, so trips for the kids aren’t too far away.

However, this example flat is not exclusively for couples  or families with children. The properties could work well as a shared flat. The price is around the region of £1,000 a month, which could be distributed between flat mates or paid as a whole sum by one family.


Kleon3 (Own work) [CC via Wikimedia Commons]

Woolwich town centre is a busy, urban jungle that constantly has a buzz, come rain or shine. We’ve picked out Calderwood street, SE18, flats situated in the heart of Woolwich town centre which are a perfect opportunity for somebody who wants to be close to shops and bars at all times. These properties also have stations nearby for those who need to commute on a daily basis.

2 bedroom flats there have prices at about £1,000 pcm, meaning it would be suitable for a small family or people with a bit more to spend, who want more room.

If you’re looking for something a little quieter, Tideside court, Harlinger street, in King Henry wharf. Yet again another area bursting to the seams with opportunities for commuters, with a wealth of transport links and easy travel, yet close to the river. A 2 bedroom flat here can go for £1000 pcm, making it ideal for sharing.


Albert Lee [CC via Wikimedia Commons]

If you’re looking for an escape from the hustle and bustle of city life, you can’t go wrong with Wimbledon. At the end of the District Line, Wimbledon is typically known as a leafy upmarket suburb. However, their are bargains to be had here.

Edge Hill SW19. Another flat positioned in the centre of a busy neighbourhood, this area does not disappoint. Located in the heart of Wimbledon, Edge Hill has quiet roads while still in proximity to the shops and transport links Wimbledon has to offer.

One flat here, which comprises of 2 bedrooms, has off street parking and a furnished interior, all for the price of £1450 pcm, which could be split between housemates or perfect for a young family (especially with a car).

Crystal Palace

Sunil060902 [CC via Wikimedia Commons]

Crystal Palace park has been recently refurbished. The area appears to be on the rise and has attracted new shops and restaurants. It is physically quite far from central London. However, with the overground and jubilee line residents can be in central London in half an hour.

Holmes court, 41 Auckland road, London is our property pick. A more suburban area, which still is located relatively close to the centre. One attraction is the lake grounds located near to the block of flats, making it feel less urban than some of the other properties in the area. One particular flat, which has recently been redecorated, has an asking price of £1095 pcm, making it a good home for a new family or friends needing accommodation for working/ education purposes.

Lee Green

Mike Quinn [Creative Commons Licence]

Lee Green is a lovely, green and mostly overlooked corner of South East London, located just down the road from Blackheath. Also known as Lee Green, it’s actually within the London Boroughs of Lewisham and Greenwich but it makes it onto our list of cheapest places to rent in London as it’s largely ignored.

New New boutiques, cafés and art galleries are already popping up on the south end of Lee Road. Therefore, combined with major regeneration plans, this could be the place to live.

Granted, Lyme farm road, SE12 is one of the more expensive pockets of the area, but it’s the bang for your buck we like. The ever popular Courtland estate in Lee, provides a myriad of travel links to get to wherever is needed, this area could be considered a great place to settle down whilst working in the city. One particular offer is the 2 bedroom maisonette, which contains everything needed for housemates attending university or a growing London family, while maintaining a fair price. For £1200 pcm, you receive gas and central heating in a location that is quiet and away from too much noise or drunken revellers.


If you think we’re missing an area or any absolute bargains that should cheapest places to rent in London, let us know.  Or if you’re looking to buy in London, rather than rent, see our up-and-coming places to buy in London.

Billy Ray

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