Nearly a Quarter of Tenants Spend over Half their Pay on Rent


Share on facebook
Share on Twitter
Share on Google+
https://www.justlandlords.co.uk/news/1-5-feel-buy-let-safe-option/

Almost a quarter of private tenants in the UK spend over half of their monthly take-home pay on rent, new figures from TheHouseShop.com show.

It is generally accepted that, for housing to be considered genuinely affordable, people should spend no more than 30-40% of their monthly income on rent, mortgage payments or other housing related costs.

However, the findings of the study by YouGov, on behalf of TheHouseShop.com, show that 24% of private tenants are currently spending more than half of their income on housing, while one in six spend over 60% of their monthly earnings on rent.

Read more here


Share on facebook
Share on Twitter
Share on Google+

Subscribe To Our Newsletter