Private rents on the Isle of Wight have risen by almost 30% in just 4 years, with the latest figures revealing that rental costs are now increasing at nearly twice the national rate.
New data released by the Office for National Statistics (ONS) earlier this week shows that the average monthly private rent on the Isle of Wight reached £953 in September 2026, an increase of £61 compared with £892 in September 2025.
The annual increase of approximately 6.8% is significantly higher than the UK average of 3.8%, with the average monthly private rent nationally now standing at £1,406.
Although renting on the Isle of Wight remains cheaper than the UK average by £453 a month, the latest figures reveal that local rental costs are rising considerably faster.
Looking back over the past 4 years, the average monthly private rent on the Isle of Wight has jumped from £738 in September 2022 to £953 in September 2026.
That’s an increase of £215 a month, equivalent to 29.1%.
The data shows a consistent upward trend, with rents increasing to £786 in September 2023, £836 in September 2024 and £892 in September 2025.
At the latest average rate, renting privately on the Isle of Wight would cost £11,436 over 12 months, compared with £8,856 at the average monthly rate recorded in September 2022. That represents a difference of £2,580 a year.
Despite the Island’s average rent remaining below the national figure, the gap in annual rental inflation means local tenants have experienced a faster percentage increase over the past 12 months than renters across the UK as a whole.
Average monthly private rents on the Isle of Wight are now just £47 away from reaching the £1,000 milestone.
The figures come from the ONS Price Index of Private Rents (PIPR), which measures changes in rental prices across both new and existing private tenancies.
