City lads hope rent gets reduced by half (6)
I believe the answer is:
lahore
'city' is the definition.
(I've seen this before)
I can't explain the remainder of the clue.
Can you help me to learn more?
(Other definitions for lahore that I've seen before include "Pakistan's second city" , "Possible home for Pakistani" , "Lo, hear about Indian city" , "Oh, real city of Pakistan" , "Pak. Punjab city" .)