The Demographics of Pimlico’s Population

While Pimlico is an attractive location for buy-to-let investment, before diving into such a venture, it is important to consider the demographic factors of the area. This blog will give you an understanding of the potential rental market, and the kind of tenants you can expect to attract

Population Size

Pimlico’s population size is approximately 15,291 and it is growing at a steady rate. This is slightly lower than the average London borough, which has a population of around 320,000. However, Pimlico’s small size is offset by its prime location, nestled between Victoria and Chelsea. This makes it a popular destination for professionals, students and young families.

The age of the population in Pimlico is relatively young, with a median age of 34 years old. This is lower than the UK average of 45 years old. This youthful population is an indication of a vibrant and active community, which can be a draw for potential tenants.

The volume of renters versus homeowners in Pimlico is relatively high, with around 56% of the population renting. This is higher than the UK average of 49%. This indicates a strong rental market, as there is a large pool of potential tenants to choose from.

Employment Rate

The employment rate in Pimlico is high, with around 74% of the population being in employment. This is slightly lower than the UK average of 75%. This is a positive indicator of a stable rental market, as tenants are more likely to be able to afford the rent. Additionally, Pimlico is home to many professional and white-collar workers, making it a desirable location for high-end rentals.

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Education 

The education level of the population in Pimlico is also high, with a large proportion of the population holding degrees. This is higher than the UK average, making Pimlico a great location for student rentals. There are several university campuses nearby, such as Imperial College London and University of Westminster. Additionally, Pimlico is home to a large number of students, making it a prime location for student housing.

Crime Rate

The crime rate in Pimlico is low, with a crime rate per 1,000 population of around 22. This is lower than the average London borough, which has a crime rate of around 35 per 1,000 population. This low crime rate is a positive indicator for potential landlords, as it suggests a safe and secure environment for tenants.

In conclusion, Pimlico is a prime location for buy-to-let investment, with a growing population, young age, high employment rate, high education level, large volume of renters, and low crime rate. The high proportion of students and professionals in the area also make it a desirable location for high-end rentals. By considering these demographic factors, you can make an informed decision when investing in a buy-to-let property in Pimlico, UK.

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See how much your property could get in rent.

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Yield calculator

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Compliance checklist

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Sam has a wealth of experience across the private landlord and Build to Rent sectors. He has advised a wide range of clients across the whole of London on how to find great tenants, improve their assets and effectively market their properties for the best returns.

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