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Number of Homeowners and Renters in the UK
Ever wonder how many people rent in the UK, how many people hold a mortgage and how many own their homes outright? We have the answers.
- Number of renter vs. homeowners in the UK
- How many households rent in the UK?
- How many mortgages and homeowners are there in the UK?
How Many UK Households Rent vs. Own?
According to our analysis of data from the English Housing Survey, just over one third of households rent their home (36%); another third owns their home outright (35%); and just under a third owns their home with a mortgage (30%) in the UK.
| How many people rent vs. own their home in the UK? | Number | Percentage |
|---|---|---|
| Number of Mortgage Holders | 7,143,297 | 30% |
| Number Owning House Outright | 8,392,925 | 35% |
| Number of Renters | 8,627,821 | 36% |
| Total Households | 24,164,043 | 100% |
By Age Group
Of course, the statistics change by age group. Households of young people aged 16 to 24 predominately rent privately—64% in fact (although this has dropped from 72% just a few years ago). By the 35-to-44 year old age group, owning via a mortgage is the most common type of residency (52% of households). And by age 55, it's owning outright.
Number of Renters UK
Of the 8.5 million households renting in the UK, just over half rent privately (4.6 million). The other 4 million are social renters (local authority and housing association). On average, rental costs are 2X higher for private renters than social renters.
| Number of Renters UK | Number | Percentage |
|---|---|---|
| Local authority renters | 1,566,490 | 18% |
| Housing association renters | 2,450,154 | 28% |
| Private Renters | 4,611,177 | 53% |
| Total | 8,627,821 | 100% |
Number of Mortgages UK
There are over 15 million households in the UK owning their own home—8.4 million of which own their home outright and 7.1 million of which hold a mortgage on their property. Those figures indicate that 54% of households owning a home own it outright and 46% via a mortgage.
| Number of Homeowners UK | Number | Percentage |
|---|---|---|
| Own outright | 8,392,925 | 54% |
| Bought with a mortgage | 7,143,297 | 46% |
| Total | 15,536,222 | 100% |
These figures reflect the household residing in a property, not the owner. Therefore, a mortgaged property that is rented out to tenants would count under the rental figures (for the tenant residing in the property) not the mortgaged property figures (for the landlord who owns the property).