North West Leicestershire House Price & Rent to Income Ratios
How do North West Leicestershire house prices and rents compare with local wages? Compare the cost of a home with annual pay, and monthly rent with monthly pay, using official source data.
What stands out in North West Leicestershire?
- House prices compared with pay: North West Leicestershire ranks 141 out of 294 covered English local authorities with comparable data, ordered from the lowest price-to-pay ratio.
- Rent compared with pay: its separate rent-to-pay position is 90 out of 294, ordered from the lowest percentage.
- The type of home makes a difference: flats and maisonettes average 3.4× annual resident pay, compared with 9.7× for detached homes.
- Rental size matters: average rent ranges from 19.0% of one median resident income for one bedroom to 42.6% for four or more bedrooms.
Rankings compare these specific ratios, rather than overall living costs or whether a particular household can afford a home. Equal unrounded ratios share a rank; gaps can be hidden by display rounding.
North West Leicestershire house price to income ratio
Average house price divided by annualised median full-time resident pay.
£282,397 ÷ £40,201 = 7.0× annual earnings
The average home in North West Leicestershire costs about 7.0 times the annualised gross pay of a typical full-time resident employee. This is also described as a house price to salary, wage or earnings ratio.
Compared with East Midlands, the price-to-pay ratio is 0.9 ratio points higher. Lower ratios mean prices are closer to local earnings.
This comparison does not predict mortgage approval or the number of years needed to save for a home. Deposits, interest rates, debts, tax and household spending affect what a buyer can afford.
North West Leicestershire rent to income ratio
Average monthly rent divided by monthly gross resident pay, shown as a percentage.
£920 ÷ (£40,201 ÷ 12) × 100 = 27%
Average rent in North West Leicestershire is equivalent to 27% of one full-time resident employee’s gross monthly pay. This rent-to-salary or rent-to-wages comparison uses pay before income tax and National Insurance.
That is 0.9 percentage points below the East Midlands comparison.
This is a comparison of area averages, not the percentage actually paid by every renter. A household may have more than one income, while bills, council tax and other costs are additional. Gross-pay and take-home-pay percentages are different; this page does not apply a personal affordability pass or fail threshold.
What explains North West Leicestershire’s housing costs relative to pay?
UK HPI: August 2026 · ONS rents: September 2026 · Employment released 20 Oct 2026 · Earnings released 22 Oct 2026
House prices are higher than the regional average, and housing costs are the larger arithmetic component of the price-to-pay gap
The ONS UK House Price Index put the average North West Leicestershire price at £282,397 in August 2026, 16.7% higher than the East Midlands average. Prices were 1.7% higher over the year. The local annual rate was 1.2 percentage points higher than the regional rate.
The price-to-pay ratio was 7.0×, 13.8% higher than the regional ratio. Arithmetically, housing costs are the larger component of this difference: local prices are relatively higher, while resident annualised pay is also 2.6% higher than the regional figure, partly offsetting the price difference. This comparison uses average prices and gross resident pay; it is not a measure of household or mortgage affordability. The HPI average is mix-adjusted, not an individual property valuation.
Rents are slightly below the regional average, but their annual rise is faster
The ONS private rental price index recorded an average rent of £920 in September 2026, 0.9% lower than the East Midlands average. Rents rose 8.2% higher over the year; the local annual rate was 4.4 percentage points higher than the regional rate.
The rent-to-pay ratio was 27.5%, 3.3% lower than the regional ratio. Both the slightly lower local rent and higher resident pay reduce this ratio; resident earnings are the larger arithmetic component. The earnings comparison is for ASHE 2026, and local annualised resident pay was 2.6% higher than the East Midlands figure. The rent index covers new and existing tenancies, so its average is not an advertised rent or a like-for-like comparison of individual properties.
Analysis refreshes with the published source data. ONS housing statistics · UK HPI · Nomis labour statistics
House price to income by property type in North West Leicestershire
UK HPI August 2026 prices compared with ASHE 2026 resident pay.
The overall average combines different types of home. This breakdown shows how the price-to-salary comparison changes when looking at a flat, terrace, semi-detached or detached home.
| Property type | Average price | Price / annual pay |
|---|---|---|
| Flats and maisonettes | £137,061 | 3.4× |
| Terraced homes | £196,227 | 4.9× |
| Semi-detached homes | £245,101 | 6.1× |
| Detached homes | £388,218 | 9.7× |
These are averages for each property type across the area. They do not describe a specific street, condition or bedroom count, and the earnings figure is not the income of buyers of that type of home.
Rent to income by number of bedrooms in North West Leicestershire
ONS average monthly rents for September 2026.
A single overall rent can hide the difference between smaller and larger homes. Compare each bedroom category with one median resident income, then with an illustrative household earning twice that amount.
| Bedrooms | Monthly rent | One median income | Two median incomes |
|---|---|---|---|
| One bedroom | £637 | 19.0% | 9.5% |
| Two bedrooms | £824 | 24.6% | 12.3% |
| Three bedrooms | £998 | 29.8% | 14.9% |
| Four or more bedrooms | £1,427 | 42.6% | 21.3% |
The two-income column assumes two people each earning £40,201 gross annually. This is an example, not a measured median household income. A family may have one earner, different pay levels or other costs. ONS average rents cover the rental stock and are not a quote for currently advertised homes.
What would the average North West Leicestershire rent mean for different incomes?
Using the area’s £920 average monthly rent, these examples show how the share changes at different gross annual income levels. The income amounts are illustrative, rather than local salary percentiles.
| Annual income | Monthly equivalent | Rent share |
|---|---|---|
| £25,000 | £2,083 | 44.2% |
| £35,000 | £2,917 | 31.5% |
| £50,000 | £4,167 | 22.1% |
These percentages use pay before deductions. They do not calculate take-home pay, household bills, benefit entitlement or a landlord’s referencing decision.
Compare North West Leicestershire with other areas
All rows use the same source periods and calculation. Regional and UK figures use their own official price, rent and pay series; they are not averages of the local ratios.
| Area | House price | Monthly rent | Annualised pay | Price / pay | Rent / pay |
|---|---|---|---|---|---|
| North West Leicestershire | £282,397 | £920 | £40,201 | 7.0× | 27% |
| East Midlands | £241,955 | £928 | £39,198 | 6.2× | 28% |
| United Kingdom | £273,037 | £1,406 | £42,182 | 6.5× | 40% |
Similar price-to-pay ratios in East Midlands
These areas are selected by their price-to-pay ratio within the same region, rather than by distance or neighbourhood similarity.
| Area | House price | Monthly rent | Annualised pay | Price / pay | Rent / pay |
|---|---|---|---|---|---|
| West Northamptonshire | £289,726 | £1,088 | £41,631 | 7.0× | 31% |
| Oadby and Wigston | £257,504 | £1,022 | £38,043 | 6.8× | 32% |
| Derbyshire Dales | £341,776 | £828 | £46,930 | 7.3× | 21% |
| Rutland | £307,406 | £966 | £45,604 | 6.7× | 25% |
| Charnwood | £270,351 | £967 | £40,227 | 6.7× | 29% |
Questions about prices, rents and pay in North West Leicestershire
What is the house price to salary ratio in North West Leicestershire?
The average house price is £282,397, equivalent to 7.0 times annualised median resident pay of £40,201. “Income”, “salary”, “wages” and “earnings” here all refer to this same gross full-time employee pay measure.
What percentage of salary goes on the average rent in North West Leicestershire?
Average rent of £920 is 27.5% of the monthly equivalent of one median resident income. This compares two area statistics; it does not measure what every renter actually spends.
Does a lower house price to income ratio make buying cheaper than renting?
It shows a lower purchase price relative to earnings. A buy-versus-rent decision also needs deposit, mortgage interest, maintenance, fees and the time spent in the home. The purchase multiple and rental percentage measure different things and cannot decide that question by themselves.
Why might another website show a different affordability figure?
Check the boundary, source dates, average versus median prices, and whether the denominator is individual or household income. This page uses the local-authority boundary, UK HPI average prices and gross resident employee pay. The source definitions below explain those choices.
Source dates, definitions and changes over time
House prices are UK HPI mix-adjusted average prices for August 2026. Rents are ONS average private rents for September 2026. Pay is the median gross weekly earnings of full-time employees living in the area, annualised by the source pipeline, from ASHE 2026.
The boundary is North West Leicestershire local authority (E07000134), not a postcode district or a wider city region. Individuals’ earnings are not the same as total household income.
Our house-price comparison differs from the official ONS median-price-to-earnings series. The ONS private-rental affordability statistic uses private-renting household income; this page uses individual resident pay. Those measures should not be compared as though their denominators were identical.
Prices and rents refresh monthly; earnings typically update annually. A true historical ratio needs earnings for each historical period. We do not divide historical prices by today’s pay and present that as historical affordability.
- Source 1: gov.uk — UK House Price Index
- Source 2: ons.gov.uk — private rents
- Source 3: nomisweb.co.uk — resident earnings
- Source 4: ons.gov.uk — ONS data and methodology
- Source 5: ons.gov.uk — ONS data and methodology
- Source 6: nomisweb.co.uk — resident earnings
- Source 7: ons.gov.uk — ONS data and methodology
ONS housing affordability definition · ONS rental affordability methodology