Finland Times

Tuesday, 27 September, 2022
Home BUSINESSFamilies under housing cost burden on rise
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Sat, 09 Apr, 2016 12:09:54 AM
FTimes Report, Apr 9
 
Households burdened by housing costs by form of tenure of the dwelling in 2002 to 2014, %. Source: Income distribution statistics 2014, Statistics Finland.
Households living in rented dwellings are more often burdened by large housing costs than households living in owner-occupied dwellings, according to Statistics Finland.
 
Altogether, 17.2 per cent of the households living in rented dwellings were burdened by housing costs in 2014.
 
The share was 1.2 percentage points higher than in 2013 and 3.6 percentage points higher than in 2012, the data derived from income distribution statistics show.
 
In 2014, a total of around 190,000 households were burdened by housing costs in the entire population and they comprised 254,000 persons. The share of households was the same as in the year before, 7.2 per cent.
 
The share of the household’s housing costs of the disposable monetary income, excluding housing allowances, is over 40 per cent.
 
In all, 17.2 per cent of households living in rented dwellings and clearly fewer, 2.4 per cent of households living in owner-occupied dwellings were burdened by housing costs in 2014.
 
The number of households and persons burdened by housing costs living in rented dwellings started rising after 2011 again in 2013.
 
Among households living in rented dwellings, 13.6 to 13.9 per cent were burdened by housing costs in 2011 to 2012, and in 2013 the share was around 16.0 per cent.
 
In the 2000s, the share of households burdened by housing costs among households living in rented dwellings had almost without exception remained at ten to twelve per cent (13.0% in 2007) as per the data.
 
The income differential between households by form of tenure of the dwelling remained almost unchanged in 2014 compared to 2013.
 
 The income level before paying housing costs for households living in rented dwellings rose slightly (1.0%), by contrast, it declined for households living in owner-occupied dwellings (-1.3%) from the year before.
 
Housing costs grew more for households living in rented dwellings than for those living in owner-occupied dwellings.
 
In 2014, the median for equivalent disposable income of households or disposable income of households calculated per consumption unit was EUR 22,300 and excluding housing costs EUR 18,500.
 
Households living in rented dwellings had an average disposable income (median) of EUR 16,900 and excluding housing costs EUR 10,900 per consumption unit.
 
Since 2011, the income level of households has in general started weakening slightly.
 
 
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