While private renters spent 33% of their household income on rent in 2018-19, those with a mortgage spent 18% according to data from the Ministry of Housing, Communities & Local Government.
Those in local authority and housing association homes spent 26% and 27%, respectively.
The mean weekly housing costs for private renters was £200, compared to £172 per week for mortgagors, £96 for local authority tenants and £106 for housing association tenants.
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The average private rent in London was £341 per week, 71% higher than the national average.
Weekly mortgage payments were also highest in London, at an average of £242.
Average London weekly social rents were £124 per week for local authority tenants and £139 for housing association tenants.
Private renters in London spent 40% of their income on average on their rent; for mortgagors this was 22%.
Local authority and housing association tenants in London spent 31% and 30%, respectively.
In 2018-19, 77% of private renters paid a deposit when moving into a private rented property; in 2008-09 this was 70%.
In 2018-19, 19% of mortgages were for 30 years or longer, this has increased since 2008-09 when 7% of all mortgages were 30 years or longer.
This difference is most apparent for first time buyers: 45% in 2018-19 had a mortgage of 30 years or greater, compared to 33% in 2008-09.
About 70% of social renters were in the bottom two income quintiles, with 40% in the lowest quintile.
Almost half (49%) of homeowners were in the highest and second highest household income quintiles.
Private renters’ incomes were more evenly distributed.
In 2018-19 47% of households in England had no savings.
Social renters were least likely to report having savings (82%), followed by private renters (61%) and owner occupiers (33%).
Households with an household reference person (HRP) aged 55 and over were more likely to have higher levels of savings; 20% had more than £50,000.
For younger age groups, 10% or fewer reported having higher levels of savings.
Still, there were nearly 3.8 million households with a HRP over 55 who reported having no savings at all.