Rent has become the primary problem for accessing housing in the Valencian Community. This is the conclusion of research by the Chair of Economic Model Transformation at the University of Alicante, which analyzes residential accessibility based on over five million European household observations, with a specific focus on the Valencian region. Professor Paloma Taltavull presented the findings, highlighting that housing accessibility depends on the tenure regime, income levels, and available supply, with rent being the critical point.
This situation stems from a combination of structural changes: an increase in housing demand driven by economic and demographic factors, and a limited supply after years of low construction. The reduction in mortgage credit following the financial crisis has also shifted demand towards renting. In the Valencian Community, this effect is more pronounced due to a reduced rental housing stock. The combination of limited supply and rising demand has increased the financial burden on tenants.
The research reveals that households accessing market-rate rental housing allocate between 50% and 60% of their income to payments, far exceeding the 30% threshold considered for accessibility. In contrast, for homeowners, this burden decreases over time, especially after the initial years of the mortgage. Residual income, the money remaining after housing costs, is significantly higher for homeowners than for tenants.
Income inequality also influences accessibility. A 1% increase in the Gini index is associated with a 0.87% rise in the effort required to access housing. The age of the household head also reduces this effort, linked to a higher presence of homeowners in older age groups. Renting households face a higher payment burden, and the research concludes that the access crisis is concentrated in this segment, making it difficult to accumulate savings for homeownership, a situation defined as a "trap" due to the inability to build a financial cushion.
The study also links housing and poverty. The accessibility rate (economic effort for housing payments) is the indicator that best predicts poverty risk, surpassing residual income. This effect is more pronounced in lower-income households and also affects part of the middle class when access is through rent. The final conclusion is that housing accessibility is multidimensional, influenced by income distribution, tenure regime, and housing availability. Although the situation in the Valencian Community does not reach the highest pressure levels seen elsewhere, its evolution requires constant monitoring of housing policies.
