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Wakefield property market

In Wakefield (Yorkshire and The Humber) the average private rent is £794/month (ONS, May 2026) and the average house price is £196,895 (HM Land Registry, April 2026). That puts rent 43% below and house prices 27% below the UK average. The gross rental yield works out at 4.8%.

Average rent
£794/mo
+5.6% YoY
Average house price
£196,895
+2.7% 12m
Gross rental yield
4.8%
UK avg 6.1%
Price-to-rent
20.7
UK avg 16.3

Rent vs buy in Wakefield

The average home in Wakefield costs about 20.7 years of average rent (price-to-rent ratio 20.7), compared with 16.3 for the UK as a whole. On this market-level signal, buying looks relatively more expensive here than the UK average. This is an arithmetic ratio of the two official figures above — a market indicator, not personal financial advice.

Rent affordability in Wakefield

Average rent of £794/month is about 28% of the local full-time gross median salary of £33,991 (ONS ASHE 2024). The ONS guideline treats rent at or below 30% of income as "affordable", so Wakefield is within that threshold on this proxy.

Honesty note: this uses individual full-time pay, not household income, so it sits above the official household-based series. ONS Private rental affordability, England (FYE2024). Median income of private-renting households basis — distinct from the proxy below.

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Nearby areas in Yorkshire and The Humber

Frequently asked questions

What is the average rent in Wakefield?
The average monthly private rent in Wakefield is £794, according to the ONS Price Index of Private Rents (May 2026), +5.6% over the past 12 months. The UK average is £1,383.
What is the average house price in Wakefield?
The average house price in Wakefield is £196,895 (HM Land Registry UK House Price Index, April 2026), +2.7% over 12 months. The UK average is £270,080.
What is the gross rental yield in Wakefield?
Dividing the average annual rent (£9,528) by the average house price (£196,895) gives a gross rental yield of 4.8% in Wakefield. This is a "gross" figure — before voids, management, maintenance and tax. The UK-average gross yield on the same basis is 6.1%.
Is it cheaper to rent or buy in Wakefield?
In Wakefield the average house price equals about 20.7 years of average rent (price-to-rent ratio 20.7). A higher ratio leans toward renting being relatively cheaper month-to-month; a lower ratio leans toward buying. The UK-average ratio is 16.3. This is a market-level signal, not personal financial advice.
Is rent affordable in Wakefield?
The average rent in Wakefield (£794/month) is about 28% of the local full-time gross median salary of £33,991 (ONS ASHE 2024). The ONS guideline is that rent at or below 30% of income is "affordable", so Wakefield is within that threshold on this proxy. Note this uses individual full-time pay, not household income, so it sits above the official household-based series.

Rent: Office for National Statistics — Price Index of Private Rents, UK: monthly price statistics — edition 17 June 2026, reference May 2026 (ONS PIPR). House prices: HM Land Registry — UK House Price Index (UKHPI), reference April 2026 (UKHPI). Both © Crown copyright, licensed under the Open Government Licence v3.0. Gross rental yield and price-to-rent ratio are computed from these two figures.