Almost a quarter of tenants spend over half their pay on rent


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Nearly a quarter of private tenants in the UK are spending more than half their take-home pay on rent, new figures show.

It is generally accepted that for housing to be genuinely affordable, people should spend no more than 30-40% of their monthly income on rents, mortgage payments, or other housing related costs. But a new YouGov survey, commissioned by TheHouseShop.com, has found that 24% of private tenants currently spend over half their income on housing, while one in six are currently spending more than 60% of their monthly income on housing.

The research suggests that mortgaged homeowners are generally in a stronger position than tenants when it comes to affordability, with just 15% of mortgaged homeowners spending more than half their incomes on housing.

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