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Financial Burdens

Financial Burdens

Increase in the financial burden of housing costs and loan repayments

CSO statistical publication, , 11am

Households were asked the extent to which housing costs and the repayment of non-housing-related debts are a financial burden to the household. The answer categories were ‘a heavy burden’; ‘somewhat a burden; ‘not a burden at all”.

Three in ten households find housing costs to be a heavy financial burden

30.2%
of households
regard housing costs as a heavy financial burden in 2022
up from 23.0% in 2021

In 2022, of the 99.5% households indicating they have housing costs, 30.2% regard housing costs as a heavy financial burden, compared with 23% in 2021. The proportion reporting housing costs to be no burden at all reduced from 30.1% in 2021 to 22.6% in 2022. See figure 6.1 and table 6.1.

No burden at allSomewhat of a burdenA heavy burden
202222.647.130.2
202130.14723
202024.750.624.7
Show Table: Table 6.1 Financial burden of the total housing cost by demographic characteristics and year (% of households)

One in five households find the repayment of loans to be a heavy financial burden

20.6%
of households with hire purchase instalments or other loan payments
regard their payment as a heavy financial burden in 2022
up from 16.9% in 2021

Of the 28.7% of households that indicated they have hire purchase instalments or other loan payments, 20.6% regard the repayment of such loans to be a heavy financial burden in 2022, up from 16.9% in 2021. See figure 6.2 and table 6.2.

X-axis labelNo burden at allSomewhat of a burdenA heavy burden
202232.44720.6
202132.350.816.9
202028.648.822.5
Show Table: Table 6.2 Financial burden of the repayment of debts from hire purchases or loans by demographic characteristics and year (% of households)

Three in five single-adult households with children consider housing costs to be a heavy financial burden

By household composition, the financial burden of housing costs is higher for households containing children and lowest amongst households without children. Three in five (59.5%) of single-adult households with children regard housing costs as a heavy burden, compared with less than one in five (18.9%) of households comprised of two-adults where at least one is aged 65 or over. See figure 6.3 and table 6.1.

X-axis labelTotal housing costRepayment of debts from hire purchases or loans
1 adult aged
65 years and over
23.927.1
1 adult aged
less than 65 years
2625.4
2 adults,
at least 1 aged
65 years and over
18.915.3
2 adults,
both aged less
than 65 years
26.921.1
3 or more adults26.113.9
1 adult,
with children
under 18 years
59.532
2 adults,
with 1-3 children
under 18 years
39.220.5
Other households with
children under 18 years
37.618.4

Four in ten rented households find housing costs to be a heavy financial burden

Rented or rent-free households are more likely than owner-occupied households to consider housing costs and loan repayments to be a heavy financial burden. Two in five (41.3%) of rented or rent-free households found housing costs to be a heavy burden, compared with owner-occupied households at 25.3%. See figure 6.4.

X-axis labelTotal housing costRepayment of debts from hire purchases or loans
Owner-occupied25.317.6
Rented or rent free41.328.2

Two in three households living in enforced deprivation find housing costs to be a heavy burden

Of households living in enforced deprivation, 66.2% find housing costs to be a heavy financial burden, compared with 22.3% of households not experiencing deprivation. See figure 6.5.

X-axis labelTotal housing costRepayment of debts from hire purchases or loans
Not experiencing deprivation22.312.2
Experiencing deprivation66.245.7