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Renting in London   |   Sep 15, 2013

Is it more expensive to rent homes near good schools?

Finding homes near good schools to rent in London

If you’re a renter with a young family, one of the most important things can be ensuring you locate a home that’s near to a good school. Choosing properties because they are closer or in the catchment area of a good school over aesthetics and even space, would be an obvious compromise for a lot of parents if you want to rent in London.

The best places in London to live if you're a young family needing a school are always popular, with bigger properties snapped up quickly. It’s definitely not a purely European phenomenon to want to get your children into the best schools possible but lets just look at London as an example…

Rents are inescapably higher closer to high performing schools. A report by Shelter has shown that the number of families with children renting in London stands at 25% rising to 33% by 2025. This pushes up competition for properties closer to good schools in the area.

The graph below is by Rentonomy.

Key Stage 2 Score

Rentonomy’s graph explores the impact of Shelter’s report on rental prices. They compared the rent of an ‘average’ two-bed property in London’s zone 3 against the average Key Stage 2 score of the closest state primary school. Results show a strong correlation between the high rents near the best performing schools, showing on average a 30% increase on rents compared to locations near lower performing schools.

  • The study only included community schools, excluding religious schools.
  • The rental values of the closest two-bedroom properties were captured.
  • The areas looked at were in tube zone 3 (not central or the busier areas) in London as there are the highest number of schools and renters in that area.
  • The 2011 Key Stage 2 score (average total points) were compared to assess a school’s performance.

In short, rent prices do correlate with the quality of school!

Image credit: Christopher Webb

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