Landlords looking to rent out a property in the East Midlands and keen to know how much to charge can establish from the latest data that the region’s typical rent is lower than the national average, but the rate of rental inflation is higher.
New data published by the Office for National Statistics has revealed how rents have changed, both across regions and in individual local authority areas.
Key findings for May 2026 include:
- The average monthly rent in England is £1,442
- The average for the East Midlands is £914
- The average rate of rent inflation in England was 3.4 per cent
- The average increase in the East Midlands was 3.7 per cent
What Is The Evidence That Rent Inflation Is Higher In Less Expensive Regions?
These headline figures were subject to some significant regional variations. For instance, the average rent varied from £2,294 in London to £776 in the north east.
A notable pattern was that there has been a levelling up of rents, with these tending to increase more in areas where they are cheaper.
For example, in London rents only rose by two per cent, whereas in the North East they were up by 5.9 per cent.
Similarly, the second most expensive region, the south east (average rent £1,418), saw the second lowest inflation at 2.9 per cent. However, the second cheapest region, Yorkshire and the Humber (£856), only saw the fourth highest increase (4.35 per cent).
This shows that the pattern is a general trend rather than an absolute one, but it does provide a good guide for landlords over what to expect. Not just in terms of the rents they can set now, but also the direction of travel for prices.
How Do Rents Vary In The East Midlands?
A breakdown of different local authority areas in the East Midlands is also a useful guide. For example, those dealing with letting agents in Leicester can understand what constitutes realistic asking prices.
Average rental prices for properties in the region included:
- £1,024 in both Leicester and neighbouring Oadby & Wigston
- £955 in Charnwood, which includes Loughborough
- £1,006 in Nottingham
- £852 in Derby
- The local authority in the East Midlands with the highest average rental prices was West Northamptonshire at £1,072
How Does The Latest Rental Data Compare With Last Month?
These figures all show only slight changes from the April data. For example, last month the annual average rent in Leicester was almost identical at £1,025, while Charnwood was slightly lower at £952.
Similarly, the annual percentage increase in the East Midlands was up by 3.8 per cent, just above the English average of 3.5 per cent.
This indicates that rental price inflation has slowed a little in the East Midlands, but it has done so by more in some regions. For instance, in the 12 months to April, the North East again led the way for increases, but at 6.5 per cent, this was 0.6 per cent more than in May.
What this reveals is that if you have a property to rent, you may not be able to charge as much as the national average, but that figure is skewed by higher prices in London and the south east.
At the same time, if current trends persist, you may find you can enjoy the benefits of above-average rent increases when the annual renewal time arrives.
