Homeowners are happier about their standard of living than renters, according to a YouGov survey.
The firm found that 75 per cent of homeowners are happy with their standard of living compared to just over half (53 per cent) of renters.
One in five renters say they are currently saving either to buy a property or for a deposit. Over a third (36 per cent) currently have savings of £500 or less (compared to just 14 per cent of homeowners).
Similarly, a quarter (25 per cent) of renters say they have less than £125 disposable household income each month, compared to one in seven (14 per cent) of homeowners.
Furthermore, 14 per cent of people renting properties say they have no disposable income – something that applies to just one in twenty (5 per cent) of homeowners.
YouGov says just over four in ten (42 per cent) 18-34 year-olds currently rent, but that 32 per cent of 35-54 year-olds do too.
The firm also found that 20 per cent of those aged 55 and above rent.
YouGov complied the findings into its Renters vs Homeowners 2017 report.
It defines ‘homeowners’ as those who either own a home outright or have a mortgage. YouGov defines ‘renters’ as those who either rent from a private landlord, housing association or local authority.