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London's best value rental hotspots across rail and tube stations

"London, UK - August 1, 2011: Image of traditional London Underground Sign."
The DLR, Metropolitan, and Piccadilly lines offer the best value for London renters, according to new research. (Getty)

The DLR currently offers the best value for London renters across the London Underground system, according to new research.

The average rental cost across the DLR line comes in at £1,769 per month, research by international rental marketplace Spotahome has found.

The second most affordable route is the Metropolitan line, with average rents at £1,857, followed by the Piccadilly line (£1,946).

Despite running through the centre of London, the Central line also ranks high for affordability with the average rents of £1,996.

Renting along the Waterloo and City line is more expensive with average prices of £3,489 due to high prices around the central locations of Bank and Waterloo.

The Circle line is the only other tube line with average rents over the £3,000 mark, coming in at £3,033 per month.

Average rent by tube line
Average rent by tube line. (Spotahome)

Watford takes the top spot as the best value station to rent around across the London Underground, with average prices of £1,057. The cost of renting in Watford remains low due to its location on the far edge of the city, but good transport links into the heart of the capital and commute times of just 23 minutes direct to London Euston make it popular with homebuyers and renters.

For renters looking to stay in Zone 1, Aldgate East (£2,076) is the most affordable rental tube stop, with nearby Mile End the best place to look for a rental bargain in Zone 2 (£1,309).

In Zone 3 Turn Pike Lane (£1,244) offers the best value for renters, and Hounslow East and West the most affordable in Zones 4 and 5 (£1,135).

With average rents of £1,173, Elm Park comes in as the cheapest in Zone 6.

Read more: London rent surges to almost 75% of income

Perhaps unsurprisingly, due to its distance from the heart of the city, Zone 9, although it includes just two tube stops, is the cheapest zone for renters with average prices at £1,225.

Zone 5 and 6 come in as the next most affordable as a whole with typical rents of £1,399 and £1,417 respectively.

Zone 1 is the most expensive zone with rents averaging £3,094. It is 58% more expensive to rent in Zone 1 than Zone 2, while Zone 2 is 11% less affordable than Zone 3, showing how moving just a few stops further out could help renters make big savings each month.

James Kirimy, GM for Spotahome UK and Ireland, said: One thing in particular that every tenant wants to know when it comes to renting in London is ‘how close am I to the nearest tube stop?’

“The London Underground network is the lifeline that connects the city and so finding that perfect balance of affordability and easy access is critical.”