When you look back at the average rents achieved in Lincoln over the last five years, from 2021 through to 2025, a clear pattern emerges. Lincoln saw extraordinary growth in rents as the market experienced a period of exceptional pressure post pandemic, yet in the last 12 months, is now settling into something far more measured.
That distinction matters. After several years in which Lincoln rents rose sharply and competition among tenants was intense, 2025 represented a shift towards balance. For many local tenants, that brings welcome relief. For landlords, it brings a different set of opportunities, provided expectations are adjusted and decisions are grounded in reality rather than headlines.
So, let us look at those last five years of rents in Lincoln and compare them against national figures:
- 2021 average rent in Lincoln: Β£715 per month
- 2022 average rent in Lincoln: Β£759 per month
- 2023 average rent in Lincoln: Β£807 per month
- 2024 average rent in Lincoln: Β£966 per month
- 2025 average rent in Lincoln: Β£1,014 per month
A rise of 41.8% in 5 years.
Set against the national picture:
- 2021 UK average rent: Β£1,390 per month
- 2022 UK average rent: Β£1,549 per month
- 2023 UK average rent: Β£1,723 per month
- 2024 UK average rent: Β£1,813 per month
- 2025 UK average rent: Β£1,838 per month
A rise of 32.2% in 5 years.
What this shows is that while rents in Lincoln have risen significantly since 2021, the pace of growth has moderated during the last twelve months. That moderation is not a sign of weakness. It is a sign that the market is once again absorbing supply and demand more evenly and coming more into balance.
Β Why the Lincoln rental market has cooled without going cold
After years of intense pressure, conditions have eased. Competition between tenants is lower, supply has improved and thus rent growth has slowed.
On new lets nationally, annual rent inflation is now running at 1.4%, the slowest pace seen in around seven years. Average rents nationally sit at Β£1,838 per month, rising at around a third of the pace of wages (currently 4.6%). That is an important point. It signals that rents are no longer racing ahead of incomes, helping stabilise tenancies and reduce churn.
The reasons behind this shift are structural rather than temporary. Tenant demand is down by roughly a fifth compared with last year, according to Zoopla. Net migration has fallen sharply from the exceptional levels seen earlier in the decade, easing one of the biggest drivers of rental pressure. At the same time, improved mortgage availability has enabled more renters to enter home ownership, releasing additional rental stock back into the market.
This is not a market losing momentum. It is a market regaining equilibrium.
What supply looks like in Lincoln, year by year
Supply is the other half of the equation, and it is where many landlords misread the local picture.
Looking at the number of rental homes coming onto the Lincoln market:
- 2021 new rental listings in Lincoln: 5,172
- 2022 new rental listings in Lincoln: 5,095
- 2023 new rental listings in Lincoln: 4,872
- 2024 new rental listings in Lincoln: 4,715
- 2025 new rental listings in Lincoln: 5,505
Compared with the national trend:
- 2021 UK new rental listings: 1,353,253
- 2022 UK new rental listings: 1,261,296
- 2023 UK new rental listings: 1,243,095
- 2024 UK new rental listings: 1,240,194
- 2025 UK new rental listings: 1,356,004
What becomes apparent is that supply has improved locally over the last year, broadly in line with national patterns, but without overshooting demand. That is a crucial distinction. Lincoln has not suddenly become oversupplied; it has simply moved away from the shortage conditions of 2022/23/24.
Why this is good news for Lincoln tenants & sensible news for landlords
For Lincoln tenants, the benefits are obvious. More choice, fewer bidding wars, and less pressure to make rushed decisions. That leads to longer, more stable tenancies and better outcomes on both sides.
For Lincoln landlords, it is my opinion the opportunity lies in oneβs shifting focus. The most successful landlords are rarely those who chase the maximum headline rent every year. They are the ones who prioritise a balance between occupancy, tenant quality, and long-term income without any hassle.
In a calmer Lincoln rental market, pricing accurately matters more than pricing aggressively. Overstretching on rent is more likely to result in void periods, which erode returns far faster than a modest increase improves them or attracts a certain type of tenant that might not be as reliable in paying the rent or keeping the property in good condition.
Β Stable prices strengthen the investment case for Lincoln buy-to-let
Another factor often overlooked is house price stability. A stable sales market in Lincoln makes it easier for landlords to plan, whether that is buying, refinancing or rebalancing a portfolio.
When prices are not swinging wildly, investors can assess opportunities based on fundamentals rather than speculation. Yield, tenant demand and running costs come back to the front. For landlords considering entering or expanding in Lincoln, that stability reduces risk and supports more confident decision-making.
What a professional approach looks like in 2026 and beyond
As the Lincoln rental market normalises, a more professional approach becomes essential.
Properties that are well presented, well maintained and sensibly priced continue to let well in a timely manner. Clear communication around rent reviews helps maintain trust. Landlords who understand their local data, rather than relying on national headlines, are better placed to make informed decisions.
This is also a market that rewards compliance and good management. As standards rise across the sector and with the new rental legislation already introduced, (plus what is on the horizon with the Renters Rights Act) those already operating properly will find the transition far smoother than those who have relied on scarcity to mask weaknesses.
Looking back at rent data from 2021 to 2025, the long-term trend remains positive. What has changed is the pace, not the principle.
For Lincoln landlords, 2025 marks a return to a market that rewards patience, preparation and realism. Tenants benefit from greater fairness and choice. Landlords benefit from stability, predictability and the ability to build sustainable income over time.
In short, a calmer rental market is not something to fear. For those taking a long-term view in Lincoln, it may well be exactly the environment in which sensible decisions deliver the best results.
To ensure ALL our clients get the absolute best experience, and a total marketing strategy as unique as their homes, we only list twenty properties per month, our January and February market appraisal slots are now available to book, we ensure that you are always a name and not just a number, with Walters.
