Research Note: How affordable are rents for NLW families?
How affordable are rents for National Living Wage families?
This research explores what levels of rent new housing should be set at in order to truly work for 'just about managing' families across the country.
Previous sub-market rental programmes have involved grant for homes at up to 80% of market rent. This analysis shows, however, that for a family with one full-time and one part-time worker in jobs paid at the National Living Wage, these rents would not be affordable in almost half of local authorities inEngland.
A better product for these low-income working families is the living rent outlined in Renewal's 'Homes for All' report. This would be affordable in all but 13% of local authorities.