Spatial Disparity and Residential Assessment of Housing Cost-Burdened Renters

Hyunjeong Lee ()
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Hyunjeong Lee: Department of Housing & Interior Design (AgeTech-Service Convergence Major), Kyung Hee University, Seoul 02447, Republic of Korea

Land, 2024, vol. 13, issue 3, 1-20

Abstract: With the expanding rental sector and rising housing expenses, this research aims to compare the socio-demographic, economic, and housing statuses of renters burdened by housing costs in four regions, and also to explore predictors affecting their residential assessment. Using data from the 2020 Korean Housing Survey, this cross-sectional study identified 245 cost-burdened households whose housing expenses accounted for more than 25% of their total gross income and living expenses. The results revealed that the majority of renters were single-person households residing in single-room occupancy units of multifamily housing, primarily comprising unemployed older adults aged 50 and over. While earning less than half of the minimum wage, the renters’ living expenses fell well below the minimum cost of living, and more than 40% of the expenditure was spent on housing costs, resulting in cost-overburdened households. With the correlation between income, deposit, and rent, the burden of housing costs and the quality of the residential environment varied among regions. Indeed, the residential assessment of the renters was significantly influenced by urban amenities, and both income deficits and excessive housing cost burdens required inclusive and prompt housing interventions including housing assistance, provision of affordable public housing, income transfer, and transitions from renting to Chonsei arrangements.

Keywords: housing cost burden; renters; housing poverty; spatial disparity; residential assessment (search for similar items in EconPapers)
JEL-codes: Q15 Q2 Q24 Q28 Q5 R14 R52 (search for similar items in EconPapers)
Date: 2024
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