If Housing Assets Exceed 1.2 Billion Won, Own 3 Houses... Those with 600 Million Won or Less Own Less Than One on Average

Statistics Korea 'Analysis of Housing Ownership Status Based on Administrative Data Linkage'

Households with housing assets exceeding 1.2 billion KRW were found to own nearly three houses on average. In contrast, households with assets of 60 million KRW or less were found to own less than one house on average.

According to the "Analysis of Housing Ownership Status Based on Administrative Data Linkage" released by Statistics Korea on the 29th, as of 2021, there were 465,000 households with housing assets exceeding 1.2 billion KRW. The total number of houses owned by these households was 1,367,000, averaging 2.94 houses per household. Among them, wage earners owned 2.65 houses on average, while non-wage earners owned 3.58 houses.

Households with assets between 600 million KRW and 1.2 billion KRW owned 1.75 houses on average, and those with assets between 300 million KRW and 600 million KRW owned 1.36 houses, showing a tendency for the number of houses owned to increase as assets increase. Households with housing assets of 60 million KRW or less numbered 807,000, owning 786,000 houses in total. The average was 0.97 houses, meaning that on average, these households did not even own one house.

Among the total 21,448,000 households, 12,063,000 households, or 56.2%, owned houses. This was a slight increase from 11,730,000 households (56.1%) in the previous year. During the same period, the number of registered employed households among homeowners increased by 299,000 (3.8%) from 7,963,000 to 8,262,000. Wage earner households numbered 6,337,000, while non-wage earner households numbered 1,578,000. The homeownership rate was higher among non-wage earners at 69.2%, compared to 56.3% for wage earners.

Among homeowner households, 3,052,000 households had children under 18, accounting for 25.3%. The homeownership rate for households with children was 66.1%, surpassing the 53.5% rate for households without children. This indicates a stronger tendency to own homes when children are present. In particular, households with two children had a homeownership rate of 69.5%, higher than the 63.6% rate for households with one child.

On an individual basis, 15,089,000 people owned houses, an increase of 393,000 (2.7%) from 14,697,000 the previous year. Among them, 9,579,000 were registered employed, with males accounting for 60.6% and females 39.4%. The average number of houses owned per registered employed person was higher for non-wage earners at 1.25 houses compared to 1.06 houses for wage earners.

This content was produced with the assistance of AI translation services.