Open AccessHousing affordability among low-income earners in Akure, Nigeria
Author(s) -
Olumuyiwa Bayode Adegun,
Alo Oluwole Joseph,
Adeseye Moses Adebusuyi
Publication year - 2019
Publication title -
iop conference series. materials science and engineering
Language(s) - English
Resource type - Journals
eISSN - 1757-899X
pISSN - 1757-8981
DOI - 10.1088/1757-899x/640/1/012009
Subject(s) - affordable housing , incentive , business , household income , low income , socioeconomics , economic growth , economics , geography , archaeology , microeconomics
Ability to afford a decent house is a critical aspect of human well-being. This study seeks to understand housing affordability among low-income earners in Akure, Ondo State, Nigeria. We conducted a survey that involves administering questionnaire to 100 randomly selected Akure residents who are employed in the junior category within public and private organisations. Most of the respondents – over 73% have monthly household income under N100,000. 81.3% of the respondents live in rented houses, while 13.3% owned where they lived. Being able to afford decent housing is a challenge as 90.7% of the respondents spent up to 25% of their total household income on rent. Majority (62.7%) agreed that their housing is not affordable, as paying rent affects spending for other household needs especially, children’s school fees and food. We recommend that stakeholders need to provide incentives towards affordable housing for their employees in the junior cadre.