Revealed: How average wages stack up with the cost of renting a home in Milton Keynes

According to figures from Propertymark – which uses average final let prices from estate agencies – you’d need to cough up an average of £1,357 per calendar month for properties in Milton Keynes, where the average salary is £40,710 a year.

In May 2025 the average rental was £1,448 with an average salary of £43,440 so figures have gone down due to the cost of living crisis.

There are several reasons for this including an increase in the number of homes available, which can impact prices. If more homes are available to rent, there is less demand, and prices can soften.

Central Milton Keynes seems to be the most affordable place to rent, with the consistently lowest rents and income threshold compared to other postcode areas in the city: the average let-agreed price is between £1,197 and £1,332 via a private landlord, and the average salary required is £35,910.

This is lower than the average rental within the South East region (£1,414) and the UK average (£1,381).

We also looked at the average salaries of various professions in Milton Keynes. According to Indeed, a nurse's base salary is £42,525; a shop assistant earns an average of £24,420; a teacher’s base salary is £24,420 and £25,89 for a warehouse worker.

Halifax recommends between 35 per cent and 45 per cent of take-home pay should be spent on rent, and each of the average salaries is based on 40 per cent on annual income used to cover rent.

In August 2025, the Office of National Statistics found that private renters in England could expect to spend 36.3 per cent of their income on an average-priced rented home.

The New Renters’ Rights Bill now means landlords can only increase rents once per year, and need to give tenants at least two months’ notice.

Renters can take their cases to a tribunal if they think the proposed increase is too much.