"I Want to Save Money While Living in Public Rental Housing"... 2030 Youth Choose 'A Place to Live' Over 'A Place to Own' [Real Estate AtoZ]

76% Willing to Live in Public Rental Housing... Housing Costs Are the Main Reason
Currently Living in Multi-Family Houses and Officetels... Preference for Apartment-Type Public Rentals
Lower Rent Prioritized Over Shared Kitchens... Strong Practi

More than 7 out of 10 one-person households in their 20s and 30s expressed willingness to live in public rental housing, according to recent findings. The primary reason cited was the ability to reduce housing costs thanks to prices lower than the market rate. Many young people perceive public rental housing as a stable stepping stone before purchasing their own home. There was also a strong consensus on the need for continued supply of public rental housing.

Youth Safety Housing in Daehak-dong, Gwanak-gu. Gwanak-gu.

According to the report "What Kind of Home Do 2030 One-Person Households Want?" recently released by the LH Land and Housing Research Institute (LHRI) under Korea Land & Housing Corporation (LH) on November 2, a survey of 700 one-person households aged 19 to 39 without a home across the country found that 76.1% were willing to live in youth public rental housing. The most common reasons for this preference were related to housing costs, such as "cheaper than market price" and "satisfied with the price," which accounted for 51.9% of responses. This was followed by "pleasant environment" (14.1%) and "trust in the government or public institutions" (8.2%).

The overall perception of public rental housing among young people was generally positive. 52.8% of respondents said they were "well aware" of the policy, and 50.2% described its image as "positive." Based on these perceptions, 80% of respondents indicated that continued supply of public rental housing is necessary, reflecting strong policy demand.

Currently, the most common types of housing occupied by one-person youth households are multi-family houses (38.1%) and officetels (27.1%). In contrast, when asked about their preferred type of public rental housing, apartments ranked highest at 52.6%. The most preferred housing arrangements were jeonse (lump-sum lease) at 43.6%, a floor area of over 41 square meters at 48.3%, and two rooms at 53.7%.

Demand for community facilities such as shared kitchens or gyms was low at 23.9%. More than half (56.0%) preferred "housing with no shared facilities but lower rent." This suggests that young people prioritize actual reductions in housing costs over additional facilities. As for areas in need of improvement in youth public rental housing policy, the highest response was for expanding supply at 25.1%, followed by lowering rent (18.6%) and expanding eligibility (11.4%).

Additionally, 83.2% of respondents said they believe it is necessary to eventually own their own home, indicating that while public rental housing is seen as a short-term solution, the long-term goal remains homeownership. Among policies for youth housing stability, support for home purchase funds (24.3%) and support for jeonse deposits (22.3%) were the most preferred.

LHRI analyzed, "While stable housing demand among young people is focused on public rental housing, there is also demand for transitioning to homeownership for asset building in the long term. Public rental housing should focus on low cost and housing stability as core values, and a tailored supply reflecting youth demand in preferred locations is necessary."