When Alice and Tom decided to move to Manchester, it wasn’t just for the job opportunities or vibrant nightlife—they were looking for a place that could become home. After several years of cramped living in London, Manchester offered them a new way of life. They wanted an apartment that was spacious, modern, and close to the city’s heart. They knew they had found it as they stepped into a new two-bedroom apartment in the heart of Ancoats—exposed brick walls, high ceilings, and floor-to-ceiling windows overlooking the cityscape. For Alice and Tom, Manchester wasn’t just a place to rent—it was a place to start the next chapter of their lives.
This story is shared by many young professionals, students, and families drawn to Manchester’s thriving rental market. With its dynamic culture, job opportunities, and many attractive rental properties, Manchester has become one of the most desirable cities for renting in the UK. This article explores the state of the rental market in Manchester, examining current trends, apartment types, and key stats to help renters navigate this vibrant urban landscape.
Why Rent in Manchester? The Appeal of a Growing City
Manchester has become one of the UK’s most exciting places to live and work. Known for its rich industrial history, the city has transformed into a hub of modernity and innovation, attracting people from all walks of life. The 2019 Manchester Population Report revealed that the city’s population increased by 6.8% between 2015 and 2020, with more than 2.8 million people calling Greater Manchester home (Manchester et al., 2020).
Much of this growth is driven by Manchester’s booming job market. In 2023, JLL reported that Manchester’s economy was expected to grow by 2.6% annually over the next five years, outpacing the national average (JLL, 2023). The city is home to a flourishing tech sector, thriving creative industries, and numerous multinational companies offering many employment opportunities. As a result, the demand for rental properties has soared, particularly among young professionals and students drawn to Manchester for career and lifestyle reasons. Manchester Apartments for rent
The Manchester Rental Market: Key Stats and Trends
- Rental Prices in Manchester
Manchester’s rental market has grown significantly in recent years, with prices reflecting the city’s increasing desirability. According to Zoopla, the average rent for an apartment in Manchester in 2023 is £1,150 per month, up from £950 in 2021—a 21% increase in just two years (Zoopla, 2023). This trend shows no signs of slowing down as demand continues to outstrip supply.
Rental prices vary widely depending on the area. Central locations like Ancoats, Deansgate, and Spinningfields command higher rents due to their proximity to major business hubs, cultural attractions, and transport links. For example:
- Ancoats: A trendy neighborhood known for its historic mills and canals, Ancoats has average rents for two-bedroom apartments ranging from £1,300 to £1,600 per month.
- Deansgate: As one of Manchester’s most iconic streets, Deansgate properties are sought after, and rents typically range from £1,200 to £1,800 per month.
- Northern Quarter: Known for its creative and bohemian vibe, the Northern Quarter attracts younger renters. The average rent for a two-bedroom apartment is around £1,150 per month.
However, for renters willing to live a bit further from the city centre, areas like Salford and Hulme offer more affordable options, with average rents ranging from £850 to £1,100 per month.
- Types of Rental Properties Available
Manchester’s rental market is diverse, from modern high-rise apartments to charming Victorian conversions. According to a 2023 report by Rightmove, 68% of properties available for rent in the city centre are apartments, reflecting the growing preference for urban living (Rightmove, 2023). These apartments typically range from studios to three-bedroom units, with the most common rental type being two-bedroom apartments, which make up nearly 45% of rental listings in central Manchester (Rightmove, 2023).
Here are some of the most popular types of rental properties in Manchester:
- Luxury Apartments: Manchester has seen a surge in new high-rise developments offering luxury amenities like gyms, rooftop terraces, and concierge services. Buildings like The Edge and The Beetham Tower cater to professionals seeking high-end living spaces.
- Converted Lofts: Areas like Ancoats and Castlefield are known for their industrial history, and many former factories and warehouses have been converted into stylish loft apartments with exposed brickwork and original features.
- Student Apartments: With over 100,000 students attending universities in Manchester (including the University of Manchester and Manchester Metropolitan University), there is high demand for student accommodation. Many purpose-built student housing developments have emerged in areas like Fallowfield and Rusholme, offering affordable, modern living spaces.
Neighborhoods to Consider for Renting in Manchester
- Ancoats: The Trendy Hub
Ancoats, once an industrial powerhouse, has become one of Manchester’s trendiest places to live. Known for its restored Victorian mills and vibrant food scene, this neighbourhood has experienced rapid gentrification, transforming into a hotspot for young professionals and creatives. Time Out even named Ancoats one of the “coolest neighbourhoods in the world” in 2021 (Time Out, 2021).
Ancoats offers a mix of old and new, with modern apartments alongside historic buildings. Renters expect to pay around £1,300 per month for a two-bedroom apartment, with more luxurious options, like Cotton Field Wharf, commanding higher rents.
- Castlefield: Urban Meets Green
Castlefield is a fantastic option for those who want to live close to the city centre but crave a quieter atmosphere. This area is known for its canals, historic bridges, and green spaces, offering a peaceful retreat within walking distance of Deansgate. Castlefield is popular with renters who prefer a more relaxed vibe, and it provides a mix of modern apartments and converted warehouses.
Castlefield rent tends to be slightly lower than in Ancoats or Deansgate, with the average two-bedroom apartment renting for around £1,200 per month.
- Salford Quays: Waterside Living
Salford Quays, located just west of the city centre, has radically transformed over the past decade. Home to MediaCityUK, where the BBC and ITV have their headquarters, this area is popular with media professionals and those who want to live near the water. Apartments in Salford Quays often come with stunning waterfront views, and the location is known for its modern high-rises and amenities.
Rents in Salford Quays are typically more affordable than in central Manchester, with two-bedroom apartments renting for an average of £1,050 per month.
Future Outlook: A Growing Market for Renters
Manchester’s rental market shows no signs of cooling down. A report by Savills predicts that rents in Manchester will increase by 15.9% over the next five years, driven by the city’s economic growth and rising population (Savills, 2023). The influx of young professionals and students, combined with ongoing urban regeneration projects, means that demand for rental properties will continue to outstrip supply.
Furthermore, the city’s development pipeline is robust. According to JLL’s 2023 UK Residential Forecast, Manchester is set to see 20,000 new homes built over the next decade, many of which will be high-end rental properties designed to cater to the growing demand for urban living (JLL, 2023).
Conclusion: Manchester—A City of Opportunities for Renters
Manchester’s rental market thrives, offering diverse properties to suit all lifestyles and budgets. Whether you’re a young professional seeking a luxury apartment in the heart of Ancoats, a student looking for affordable accommodation near the university, or a family wanting to settle in a quieter, more residential neighbourhood, Manchester has something to offer.
With rents steadily rising and demand outpacing supply, now is the time to secure a rental in this vibrant city. For Alice and Tom, Manchester represented more than just a change of location—it was a chance to embrace the city’s energy, culture, and opportunities. As they unpacked their boxes in their new Ancoats apartment, they knew they had made the right choice.
