87% of Residents Say "Difficult to Find Private Housing of the Same Level"
Among residents living in public rental housing, 8 out of 10 expressed satisfaction with their living conditions.
On the 22nd, Korea Land and Housing Corporation (LH) announced that a survey on the living conditions of 10,000 households residing in public rental housing revealed that 8 out of 10 residents were satisfied with public rental housing. According to the survey results, 8 out of 10 residents in construction rental housing (and 7 out of 10 in purchased or jeonse rental housing) were satisfied with the public rental housing policies and systems.
Additionally, 6 out of 10 residents reported that their overall sense of happiness increased after moving into public rental housing, and 86.0% of residents stated that after moving in, they felt a sense of stability without worries about moving and the ability to live long-term.
Notably, 70.5% of elderly residents aged 65 and over responded that they felt protected by the state or society. Other opinions included improvements in family relationships such as increased intimacy and consideration, as well as benefits to physical health through disease management and fitness enhancement.
Regarding the performance and condition of the housing, such as the structure and area of construction rental housing, 78.2% of residents were satisfied. Furthermore, 86.6% of residents responded that it is difficult to find a house of the same quality in the private market.
Concerning housing costs, 82.6% of residents said that their burden of deposit or monthly rent decreased after moving into public rental housing, and that the reduction in housing expenses helped improve their economic situation.
This study confirmed that the rent level of LH public rental housing is less than half of the surrounding market prices, and the Rent-to-Income Ratio (RIR) is also lower compared to private monthly or jeonse rentals. Additionally, 53.5% of households with children reported that the childcare environment became more convenient through on-site daycare centers and after-school care support programs.
Moreover, 74.9% of the youth generation (ages 19 to 34) responded positively to the role of public rental housing as a stepping stone in the housing ladder. More than half of the residents recognized public rental housing as a 'stepping stone to securing a better home.'
Households planning to move accounted for 14.7% of the survey population, among which 41.2% cited "improved economic conditions such as increased income" as the reason for moving. Among residents of national rental and Happy Housing, 36.3% and 35.9%, respectively, were planning to move to purchase their own home.
Jin Mi-yoon, head of the LH Policy Support Task Force, stated, "Contrary to the negative perceptions of rental housing externally, residents think positively about rental housing, and this study is significant in proving the role of rental housing as a housing ladder."
This survey was conducted to understand residents' perceptions of public rental housing and to gather diverse opinions to provide better housing services. The survey targeted 10,156 households residing in permanent and national rental public housing supplied by LH, and the survey period was from October 28 to December 15, 2021.
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