On average across Scotland 73% of adults either rent or pay towards a mortgage with the average individuals spend around 28% of their take-home pay on housing costs each month.
A fortunate 1 in 3 (35%) however, spend less than 20% of their take-home monthly income on housing costs.
But worryingly 10% of Scottish people who pay housing costs say that they spend 50% or more of their take-home pay on rent or mortgage payments.
Ian Williams, spokesman for DACS, said: “Paying the rent or mortgage for most people is their biggest monthly expenditure and while some may be able to sustain committing over half of their income to housing costs, they’re leaving themselves with little leftover to cover other essential bills and additional credit commitments.
“If there were to be a change in interest rates, homebuyers whose housing costs account for a high proportion of their income could find themselves particularly vulnerable if they haven’t got a fixed rate mortgage.”
Of the UK-wide respondents, young people are the most likely to use a high proportion of their monthly income to pay their rent or mortgage.
Those aged between 18 and 24 spend the highest proportion of their take-home pay on housing, with 18% committing more than half of their income to cover their rent or mortgage.
Amongst 25-34 year olds, 16% spend over half of their income on housing costs.
