Rental costs around hospitals equal 47% of average nurse wage

The average rental cost per month around hospital sites in England is currently accounting for 47% of the average nurse’s salary, new research published by Ome has revealed.

The rental deposit replacement also suggested the average rental cost around hospital sites, at £891, is 5% higher than the average across the rest of the country.

Ome’s research considered the current average house price for each hospital postcode, the average cost of renting each month, the rental deposit required and how much of the average nurse’s salary would be required to cover these costs.

The data also suggested that the average nurse is required to find £1,114 upfront for a rental deposit, compared to an average of £1,065 across England as a whole, with this deposit cost alone accounting for 59% of the average nurse’s monthly wage.

Ome co-founder, Matthew Hooker, commented: “For many of us, the high cost of renting or buying close to our place of work means that we opt to commute in from much further afield and so in normal circumstances, the same may be expected of those working on the front line in our hospitals.

“However, these are far from normal circumstances and our heroes on the frontline are currently working around the clock under extremely tough conditions, with many having to stay away from their families to keep them safe from the risk of the current pandemic.”

Ome’s research also found rental affordability to be much higher in London compared to the rest of the country, where the average rent of £1,905 around London hospitals was 124% higher than the national average.

According to the figures, Ome said the average London nurse is paying out 87% of their average monthly net salary on rent, with a deposit requiring more than a month’s wage (109%).

In the East of England, the South-East, the South-West and the West Midlands, the research showed that the average cost of renting accounts for 43% or more of the average nurse’s salary – a significant proportion of their wage, Ome added.

“Although they are unlikely to be buying or renting an additional property to do so, we wanted to highlight the high cost of securing a place to live close to their place of work and the importance of providing temporary accommodation while they fight to keep the nation safe,” Hooker added.

“This opens a wider conversation surrounding the affordability of housing throughout the UK and the current impact this is having on key workers during the Covid-19 pandemic.

“The heroic efforts made by the nation’s nurses to keep us safe must be matched by the nation’s efforts to keep an affordable roof over their heads and mitigate any worries they may have surrounding housing costs. We should all do our bit to ensure the security and safety of these selfless individuals.”

    Share Story:

Recent Stories


Deep Neural Networks for FX Prediction
Adam Cadle speaks to Richard Turner Head of Research and Mike Emambakhsh, Ph.D. Senior Research Scientist at Mesirow Currency Management about their work with Machine Learning, specifically Deep neural networks for FX prediction.

FREE E-NEWS SIGN UP

Subscribe to our newsletter to receive breaking news and other industry announcements by email.

  Please tick here to confirm you are happy to receive third party promotions from carefully selected partners.