#Rent

In 2023, we spent the most money on housing and rent

The Turkish Statistical Institute (TÜİK) released consumption expenditure statistics for the year 2023: According to the data, housing and rent expenditures had the highest share of household consumption expenditures nationwide, at 23.9%. Transportation followed in second place with 21.9%, and food and non-alcoholic beverages ranked third with 20.6%. Among total consumption expenditures, insurance and financial services had the lowest share at 0.8%, education services at 1%, and entertainment, sports, and culture expenditures at 1.9%. The monthly average consumption expenditure per household, calculated taking into account household size and composition, was estimated at 24,383 Turkish Lira per household and 12,521 Turkish Lira per equivalent individual. Households primarily dependent on salary, wages, or daily earnings allocated 22.8% to transportation, 22.2% to housing and rent, and 18.9% to food and non-alcoholic beverages. In contrast, households with entrepreneurial income allocated 27.3% to transportation, 19.7% to housing and rent, and 19.5% to food and non-alcoholic beverages, indicating varying spending patterns based on primary income source. Looking at consumption expenditures by income group, the lowest income quintile (first 20%) households allocated 36.6% to food and non-alcoholic beverages, 29.2% to housing and rent, and 8.8% to transportation. Conversely, the highest income quintile (fifth 20%) households spent 28.3% on transportation, 21% on housing and rent, and 14.5% on food and non-alcoholic beverages. This highlights that lower-income households allocate more than double the proportion of their spending to food compared to higher-income households. Regarding household size, single-person households allocated 31.8% to housing and rent, 18.7% to transportation, and 16.3% to food and non-alcoholic beverages. Larger households with 7 or more members allocated 30.2% to food and non-alcoholic beverages, 19.9% to housing and rent, and 14.9% to transportation, showing that single-person households allocate significantly more to housing and rent compared to larger households.