Sheffield rents rise twice as fast as property prices - as private rents climb to an average of £931 a month
Average private rent has risen to £931 a month
Rents in Sheffield have risen more than twice as fast as house prices over the past year, according to new figures.
The average private rent in the city reached £931 a month in August 2026, data analysed by NestInsights shows.
These monthly prices went up by 4.7 per cent over the year.
Meanwhile, the average house price stood at £219,713 in July.
The average price marks an annual increase of 1.9 per cent.
The figures suggest rental costs are continuing to rise at a faster rate than property values, adding to questions about affordability for people living in the city.
The figures suggest renting costs are rising faster than property prices, while Sheffield remains a relatively affordable place to buy a property compared with many other parts of England and Wales.
Sheffield’s average house price was cheaper than 76 per cent of the areas included in the analysis.
Despite this, the city ranked 69th out of 316 areas for gross rental yield, placing it among the areas offering the highest rental returns relative to property prices. Gross rental yield measures how much a landlord receives in rent over a year compared with the price of the property, before expenses.
Over the past five years, Sheffield house prices have increased by an average of 4.5 per cent a year, while rents have risen by an average of 6.1 per cent annually.
Sheffield’s average property price remains below that of many parts of England and Wales, with the city ranked among the cheaper 24 per cent of local authority areas covered by the analysis.
However, the city’s rental market may also appeal to property investors. Gross rental yield measures annual rental income as a proportion of a property’s value, before costs such as mortgage payments, maintenance and tax.
Sheffield recorded a gross rental yield of five per cent, ranking 69th out of 316 areas analysed.
The figures are based on official data from HM Land Registry and the Office for National Statistics, updated with July 2026 house price data on October 13.