Analyzing the Mediating Effects of Public Rental Housing on Homeownership Intention : A Structural Equation Modeling Approach Focusing on Housing Costs, Assets, and Satisfaction

This study empirically examines the structural effects of public rental housing on households’ willingness to homeownership. Using microdata from the 2023 Korea Housing Survey conducted by the Ministry of Land, Infrastructure and Transport, a Generalized Structural Equation Model was employed with sampling weights applied. The analysis focused on three mediating variables—housing cost burden, asset levels, and housing satisfaction—for exploring the relationship between public rental housing and homeownership intention. Reportedly, public rental housing remarkably alleviates housing cost burdens and enhances housing satisfaction; however, these factors indicate limited pathways to influencing homeownership intention. In contrast, public rental housing was positively associated with asset accumulation, and the indirect effect of assets on homeownership intention was statistically significant. Therefore, public rental housing contributes to short-term residential stability and may shape long-term housing choices with asset building as a foundation.