Quarter Of Renters Spending Half Their Income On Housing

YouGov survey shows how wages are the biggest cost every month. The results showed that mortgaged homeowners are definitely in a stronger position than tenants when it comes to affordability, with 15% of mortgaged homeowners spending more than half their incomes on housing, compared to the 24% of private renters saying the same. Almost half of mortgaged homeowners (44%) are spending up to 30% of their monthly income on housing, which is perfectly within the affordable range. However, just one in five private renters (20%) can say the same – or less than half the proportion of mortgaged homeowners. Almost one in four private tenants (24% excluding “don’t know”s) admitted to spending over half their income on housing. Read more on 24housing.