In collaboration with Citizens Advice Cornwall, Citizens Advice South Hams and the University of Plymouth’s Business School, we have produced a report on the impact of the Local Housing Allowance rate freeze on renters in Devon and Cornwall.
Some key findings for Plymouth from the report include:
- Private sector rent levels in the Plymouth Broad Rental Market Area have increased by 28% since 2013.
- The gap between average private sector rents in Plymouth has been growing ever since the last increase to LHA rates in 2020.
- Current LHA rates only cover 2/3 of the average monthly rent for a 2 bed property in Plymouth.
- This figure drops to 62% when looking at the average monthly cost of renting a 3 bed in the city which is £1,036, compared with the LHA rate for 3 bed households in Plymouth which is just £693.12.
You can read the full report below.