When comparing the mortgage or rental costs incurred by owners with mortgage, private renters and social renters in England, private renters pay a considerably larger share of their income than the other two groups. While owner occupiers with mortgages paid approximately 17.8 percent of their income on mortgage in 2023, private renters paid 32.3 percent, or almost one third. In terms of average monthly costs, renting a three-bedroom house is more expensive than buying.
Percentage of income spent on mortgage or rent in England from 2011 to 2023, by tenure
Characteristic
Owner occupiers
Private renters
Social renters
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Department for Communities and Local Government (UK), & GOV.UK. (December 14, 2023). Percentage of income spent on mortgage or rent in England from 2011 to 2023, by tenure [Graph]. In Statista. Retrieved July 22, 2024, from https://www.statista.com/statistics/755883/income-spent-on-mortgage-or-rent-england-by-tenure/
Department for Communities and Local Government (UK), und GOV.UK. "Percentage of income spent on mortgage or rent in England from 2011 to 2023, by tenure ." Chart. December 14, 2023. Statista. Accessed July 22, 2024. https://www.statista.com/statistics/755883/income-spent-on-mortgage-or-rent-england-by-tenure/
Department for Communities and Local Government (UK), GOV.UK. (2023). Percentage of income spent on mortgage or rent in England from 2011 to 2023, by tenure . Statista. Statista Inc.. Accessed: July 22, 2024. https://www.statista.com/statistics/755883/income-spent-on-mortgage-or-rent-england-by-tenure/
Department for Communities and Local Government (UK), and GOV.UK. "Percentage of Income Spent on Mortgage or Rent in England from 2011 to 2023, by Tenure ." Statista, Statista Inc., 14 Dec 2023, https://www.statista.com/statistics/755883/income-spent-on-mortgage-or-rent-england-by-tenure/
Department for Communities and Local Government (UK) & GOV.UK, Percentage of income spent on mortgage or rent in England from 2011 to 2023, by tenure Statista, https://www.statista.com/statistics/755883/income-spent-on-mortgage-or-rent-england-by-tenure/ (last visited July 22, 2024)
Percentage of income spent on mortgage or rent in England from 2011 to 2023, by tenure [Graph], Department for Communities and Local Government (UK), & GOV.UK, December 14, 2023. [Online]. Available: https://www.statista.com/statistics/755883/income-spent-on-mortgage-or-rent-england-by-tenure/
