House rich, cash poor? Nearly half of owner-occupier household heads pressed for money, survey says.
Nearly half of heads of household living in their own homes say their income is insufficient, as mortgage costs, taxes and inflation weigh on finances.
Property listings are displayed at a real estate office in Gangnam District, southern Seoul, on Oct. 26.NEWS1
Owning a home doesn’t guarantee financial comfort. Nearly half of heads of household living in their own homes said their income falls short, while fewer than 1 in 5 said they have money to spare, a government survey showed Thursday.
A total of 46.7 percent of heads of household living in their own homes said their income was insufficient, according to a survey released by the Ministry of Data and Statistics on Thursday. The response was made up of 36.5 percent who said their income was slightly insufficient, and 10.2 percent who said it was very insufficient.
Another 35.6 percent described their income as adequate. Only 17.7 percent said they had money to spare, which made up of 15.7 percent who said they had a little extra and 2 percent who said they had plenty.
The share of heads of household living in homes they own who feel financially comfortable remains low, but has been improving somewhat over the years.
The proportion of the group who said they had money to spare was 21.2 percent in 2011, but plunged to 10 percent in 2013. It has since gradually recovered to reach 17.7 percent in 2025.
The 2025 figure was 7.7 percentage points higher than in 2013, but still below the 2011 level.
Just 2 percent said they had plenty of money to spare in 2025, suggesting that very few heads of household feel financially comfortable even when living in homes they own.
Similar pressures for owner-occupiers and jeonse tenants
High-rise apartment buildings are seen from Lotte World Tower in Songpa District, southern Seoul, on Aug. 7.YONHAP
There was little difference in perceived financial comfort between heads of household living in their own homes and those renting under the jeonse system. The system involves paying a large refundable lump-sum deposit instead of monthly rent.
Among heads of household living in homes rented through jeonse, 15.8 percent said they had money to spare. The figure was 1.9 percentage points lower than the 17.7 percent recorded among those living in their own homes.
Another 50.1 percent of heads of household living in jeonse homes said their income was insufficient, slightly more than the majority and standing 3.4 percentage points above the 46.7 percent recorded among owner-occupiers.
However, the survey classified respondents by the occupancy status of their current residence rather than whether they owned property. Some heads of household living in jeonse homes may therefore own other properties.
The findings should not be interpreted as a direct comparison of perceived income adequacy between homeowners and people who do not own property.
Loans, taxes and inflation adds to pressure
A banner advertising mortgage loans is displayed at a financial institution in Seoul on Oct. 15.NEWS1
Mortgage repayments and housing-related taxes may help explain why heads of household living in their own homes do not feel financially comfortable. Rising living costs driven by inflation may also be contributing to the financial strain.
Even homeowners may have less disposable income if they face regular expenses such as loan principal and interest payments and taxes. However, the survey alone cannot establish the specific reasons respondents feel their income is insufficient.
Financial pressures were also widespread among heads of household overall, regardless of their housing arrangements.
Among all heads of household — including those living in their own homes, jeonse homes and monthly rentals — 51.7 percent said their income was insufficient. Only 15.6 percent said they had money to spare.
The findings suggest that a substantial share of heads of household feel financially strained regardless of whether they own or rent their homes.
This article was originally written in Korean and translated by a bilingual reporter with the help of generative AI tools. It was then edited by a native English-speaking editor. All AI-assisted translations are reviewed and refined by our newsroom.
