An Empirical Analysis on Determinants of Residential Satisfaction for Single-Person Households Using Ordered Probit Model

Abstract

Due to low birth rate and aging, the population in Korean has declined since 2020. However, single-person households are rapidly increasing. While there may be various reasons, it is expected that single-person households will increase because of the increase in unmarried individuals, the age of the first marriage and the divorce rate. The government is implementing housing support policies for increasing single-person households, but few understand the housing satisfaction of the households. Also, there is a lack of studies on the determinants that significantly influence their housing satisfaction Thus, this study aimed to identify the determinants that affect the satisfaction of single-person households and figure out policies in order to solve increasing problems that they suffer. To conduct an empirical analysis, this study employed data from the 2020 housing survey and focused mainly on single-person households by using the ordered probit models. Findings showed that the determinants for the satisfaction of single-person households were not largely different from that of multi-person, though, the effects of determinants on the housing satisfaction differed by age, income and region which made the determinants differentiated. The results of this study is expected to be used for basic data to solve the housing problems of single-person households.