Regardless of whether the home is owned or rented, housing constitutes a significant proportion of a household's budget. These costs include, for example, structural insurance, council tax payments and repairs and maintenance, as well as mortgage interest payments or rent (net of housing benefit).
In 2002/03 the median weekly rent (before housing benefit) for those living in private accommodation in England was £121. Like house prices, rents vary according to location. Private rents, which are typically higher than social sector rents, ranged from £65 a week in the North to £162 a week in London. The cost of renting from the local authority ranged from £45 in the North to £64 in London.
