The salary you need to afford rent in the UK’s fastest-growing job hotspots

Graduates hoping to relocate for work this summer will need a starting salary of at least £39,000 to afford rent in London and almost £33,000 in Oxford, according to analysis from flatshare site SpareRoom.

SpareRoom calculated the annual salaries required to rent affordably in eight areas of the UK that LinkedIn identified as having the fastest year-on-year growth in entry-level roles between 2024 and 2025.

The figures assume that no more than 30% of gross salary is spent on housing costs, the maximum proportion SpareRoom recommends.

Oxford topped LinkedIn’s ranking for the fastest growth in entry-level jobs. It is also the most expensive location on the list outside London, with an average room costing £821 per month. SpareRoom said graduates would need a minimum gross salary of £32,853 to afford rent there.

London placed fifth in LinkedIn’s ranking but carries the highest rents. With an average room costing £978 per month, SpareRoom said graduates would need a minimum gross salary of £39,103 to live in the capital affordably.

The full list of the eight areas, alongside the average monthly room rent in the first quarter of 2026 and the minimum gross salary SpareRoom said is required, is as follows:

• Oxford (1st for job growth): average room rent of £821 per month, requires a minimum salary of £32,853
• Cambridge (2nd): average room rent of £786 per month, requires £31,424
• Exeter (3rd): average room rent of £662 per month, requires £26,464
• Edinburgh (4th): average room rent of £770 per month, requires £30,814
• London (5th): average room rent of £978 per month, requires £39,103
• Nottingham (6th): average room rent of £581 per month, requires £23,247
• Reading (7th): average room rent of £715 per month, requires £28,587
• Glasgow (8th): average room rent of £673 per month, requires £26,909

Exeter a standout

SpareRoom said graduates chasing job opportunities might be better off looking at Exeter, where the average room rent of £662 per month is below the UK average, or Nottingham, where the average room rent of £581 per month is the lowest on the list.

SpareRoom said the average monthly room rent across the whole of the UK excluding inner London is £668, and £747 including inner London.

The analysis found that the typical graduate salary falls short of the rent in half of the eight areas.

SpareRoom cited ONS data showing the median annual salary for 22-to 29-year-olds in full-time employment is £29,855, which it said effectively prices young people out of four of the eight locations: Oxford, Cambridge, Edinburgh and London.

No renting for under-25s

SpareRoom also noted that the share of under-25s in the rental market has been in steady decline for the past decade.

The company said this age group made up almost a third of the flatshare market in 2015, at 32%, but that figure had fallen to little more than a quarter, at 26%, in 2025.

SpareRoom said not being able to access the rental market makes it harder for young people to chase the limited entry-level opportunities available.

Matt Hutchinson, Director of SpareRoom, said graduates looking to relocate may find affordable rooms are scarce because rents, although no longer rising dramatically, have not seen any meaningful decreases either.

“Under-25s are in steady decline in the rental market because grads today aren’t only contending with high rents,” Hutchinson said.

“Student loan repayments reduce disposable income at a time when the basic cost of living, including energy bills, food and fuel, is sky high, and the loan repayment threshold is due to be frozen from next year, triggering more grads into repayments. So it’s little wonder more young people aren’t leaving home, even if it does limit their career opportunities.”

Now read: Jobs bloodbath coming for the UK