Von Thünen's/Ricardo's Law of Rent, part the manieth.
From The Metro:
Jobs website Adzuna compared average advertised salaries with average rental figures across the UK to find the most and least affordable towns and cities for renters to live. In Swindon, workers typically spend 11.5 per cent of their take-home pay on rent, compared with a national average of 22.1 per cent.
Bradford, Hull, Dudley and Durham complete the best-value top five, with workers in these areas typically paying less than 13 per cent of their net wages on rent. At the other end of the spectrum, Londoners typically shell out 41 per cent of their pay on rent while those in Oxford can expect to see it swallow up 39 per cent of their take-home wages…
Andrew Hunter, co-founder of Adzuna, said: ‘Even though workers may be paid a higher monthly salary, their left-over cash is often smaller after paying steep living costs and local property premiums.’
Correct. Why would you expect any other outcome?
They list the areas with the lowest and highest rent-to-income ratios, quite unsurprisingly, these are pretty much in line with the local average wages that people in their twenties and thirties can earn.
Source: http://markwadsworth.blogspot.com/2018/08/von-thunensricardos-law-of-rent-part.html
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