J40: Value Rentals

Younger singles and couples, some with children, setting up home in low value rented properties

Type of Transient Renters consisting of 1.78% of households and 1.45% of population

Who We Are

  • Aged 26-35
  • Household income £20k-£29,999
  • One child
  • Council/housing association terraced house
  • Very high level of household technology

Key Features

  • Single parents
  • Millennials
  • Low value houses
  • A-level education
  • Low discretionary income
  • Don't use landlines

Description

Value Rentals are people in their late twenties and thirties who rent very low-cost homes. Many are single, others share with a partner or housemate. More than half of these households have children, typically one child of primary school age.

Higher numbers of these residents rent from social landlords than private landlords and they are likely to have moved in during the last few years. Their homes are small, two or three-bedroomed houses that are typically terraced and have very low market values. They are found in inexpensive neighbourhoods around cities and larger towns.

Some adults work full-time in lower-level jobs earning basic wages, others may be studying or looking for work. Budgets are tight and there is little money to spare once bills are paid. With very few savings, these consumers shop carefully and search out cheaper options.

Residents are highly dependent on their smartphones for communication and entertainment, and social media is used heavily to share content and keep up to date. They look for bargains online, including footwear and children’s toys, and love to play games both online and offline.