The Household Finance and Consumption Survey (HFCS) 2018 was published on 30 January 2020. Data within the publication were revised on 4th June 2020. These data revisions were due to the re-calibration of weights used in the estimation of HFCS statistics. Data within the publication were revised again on 16 May 2023. These data revisions were primarily due to the supplementing of survey data with the Central Credit Register, an administrative data source obtained by the CSO in 2021. All content relating to HFCS 2018, including the Electronic Publication text, graphs and tables, Infographic, Press Release and PxStat tables, now reflect the revised data. Details as to the extent and impact of these revisions on previously published data can be found in the HFCS 2018 Revisions Information Note.
Mortgage on the Household’s Main Residence (HMR)
Three in ten households (29.9%) have a mortgage on the HMR and there is a wide variability by age of the reference person. For example, only 3.7% of all households where the reference person is aged 65 or older have a mortgage on the HMR compared to 53.3% of households where the reference person is between 35 and 44 (See Table 4.1). The likelihood of having a mortgage rises with household income, (going from 6.9% for the bottom fifth of income distribution to 59.1% for the top fifth).
The median value of the outstanding balance of the mortgage on the HMR is €128,500 but varies from €148,100 in the Eastern & Midlands region to €111,100 in the Northern region (see Table 4.2).
Mortgage on Other Real Estate Property
While overall 9.4% of households have a mortgage on other property, this rises to 23.3% of households with the top fifth of household income (see Table 4.1).
Non-mortgage Loans
The percentage of households with non-mortgage loans is 46.4% but one adult households with children have a much higher rate of 61.0% (see Table 4.1).
Credit Card Debt
Some 39.8% of all households have credit card debt but this goes up to 53.0% for households with two adults and one to three children under 18 (see Table 4.1).
Total Debt
Households with children have the highest rates of debt. A third (33.1%) of one adult households aged 65 or over have debt in contrast to 88.2% of households with two adults and one to three children under 18 (see Figure 4.1).
| Percentage of households with any debt | |
| 2 adults with 1-3 children aged under 18 | 88.2 |
| Other households with children aged under 18 | 87.8 |
| 3 or more adults | 82.2 |
| 2 adults, both aged <65 | 78.2 |
| 1 adult with children aged under 18 | 75.9 |
| 1 adult aged <65 | 65.2 |
| 2 adults, at least 1 aged 65+ | 57.6 |
| 1 adult aged 65+ | 33.1 |
One in ten (9.7%) households are considered credit-constrained in 2018. Single adult households with children are most likely to be credit constrained with 23.0% of these households falling into this category. This compares to 3.0% of single adult households over the age of 65.
Focusing on single adult households with children, just over half (55.7%) applied for credit in the 3-year period preceding their interview date and over a fifth (22.2%) of these households were either refused or didn’t get the full amount requested. Just over one out of every five (20.2%) single adult households with children considered applying for a loan at some time in the 3-year period but then decided not to, thinking that the application would be rejected (see Figure 4.2 and Table 4.3).
| 2018 | |
| 1 adult with children aged under 18 | 23 |
| Other households with children aged under 18 | 12.7 |
| 2 adults with 1-3 children aged under 18 | 12 |
| 2 adults, both aged <65 | 11.9 |
| 1 adult aged <65 | 11.3 |
| 3 or more adults | 6.2 |
| 2 adults, at least 1 aged 65+ | 3.3 |
| 1 adult aged 65+ | 3 |
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