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Defining and measuring housing affordability using the Minimum Income Standard

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  • Matt Padley
  • Lydia Marshall

Abstract

There is growing concern about a crisis in housing affordability in the UK, renewing longstanding debates about what constitutes ‘affordable’ housing. The growing use of the private rented sector by low income households has also led to increased interest in understanding the impact of housing costs on living standards. This paper builds on existing work on ‘residual income’ measures of housing affordability, accepting that what households can afford to pay for housing is related to their ability to cover other costs, and so not directly proportional to income. It proposes a new approach to defining and measuring housing affordability, based on the Minimum Income Standard (MIS). The paper then uses data from the Family Resources Survey (2008/09 to 2015/16) to examine housing affordability within the rented sector across the UK, exploring the value of this measure both in revealing the scale of the ‘problem’ and assessing the likely impact of suggested interventions.

Suggested Citation

  • Matt Padley & Lydia Marshall, 2019. "Defining and measuring housing affordability using the Minimum Income Standard," Housing Studies, Taylor & Francis Journals, vol. 34(8), pages 1307-1329, September.
    • Handle: RePEc:taf:chosxx:v:34:y:2019:i:8:p:1307-1329
    DOI: 10.1080/02673037.2018.1538447
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    Cited by:

    1. N. K. Kurichev, 2022. "Spatial Equilibrium? The Difference of Real Income, Housing Markets, and Migration Flows between Russian Cities," Regional Research of Russia, Springer, vol. 12(2), pages 215-226, June.
    2. Xue Han & Changchun Feng, 2024. "Effects of Affordable Housing Land Supply on Housing Prices: Evidence from 284 Cities in China," Land, MDPI, vol. 13(5), pages 1-17, April.

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