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  • Writer's pictureConrad Binding

Yields on homes of multiple occupancy


  • The cast of Friends were role models for a generation, living the dream in a shared apartment. There are over half a million 'Homes in Multiple Occupation' (HMOs) in England and Wales and they play a key role in keeping costs down for many renters.

  • HMOs also work well for investors, with estimated potential gross yields averaging 7.9% in the North West. In Manchester student rental stock has grown by 26.5% in just five years.

  • Research from The HMO Hub showed that gross yields are consistently higher in HMOs than standard buy-to-let properties.

  • London has the largest stock of HMOs but the highest yields are in the North West, North East and Wales. Source: #Dataloft Rental Market Analytics (based on three renters occupying a 3-bed property), DLUHC (2022), StatsWales (2021), Land Registry, Cushman & Wakefield (2023), The HMO Hub (2020)

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