The Impact of Housing Price-to-Income Ratio on Fertility Rate

This study uses a regression analysis with a fixed model to explore the impact of housing price-to-income ratio on fertility rate as a whole, and also discusses the effect of related factors on fertility rate. This study uses panel data of 31 provinces (except Hong Kong, Macao and Taiwan) from 2017 to 2020 from the Statistical Yearbook of National Bureau of Statistics and Provincial Statistics Bureau. Research findings: (1) Housing price-to-income ratio has a significant negative effect on fertility rate; (2) Unemployment rate has no significant correlation with fertility intention; (3) Urbanization and educational attainment are negatively correlated with fertility intentions; (4) GDP per capita has a positive correlation with fertility; (5) Economic factors have become an important consideration in people’s fertility decisions.