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Households have sufficient income to afford a decent standard of living

Why Is This Important?

While money may not buy happiness, it is an important means to achieving higher living standards and thus greater wellbeing. Higher economic wealth may also improve access to quality education, health care and housing.

Measures

Time
Period
Current Actual Value
Baseline
% Change
Median weekly household income after tax and benefits
I
2022
£860
29%
Average earnings index (allowing for inflation)
I
2023
113.4
-5%
% of Islanders living in relative low income households (before housing costs)
I
2022
14.0%
8%
% of Islanders living in relative low income households (after housing costs)
I
2022
21.0%
11%
% of a mortgage that an average household can afford
I
2022
66.7%
-21%
% of low income households in qualified private rental accommodation in rental stress
I
2022
71%
18%
% of households who find it difficult to cope financially
I
2022
24%
0%
Gini Coefficient (net income before housing costs)
I
2022
0.38
9%
Gini Coefficient (net income after housing costs)
I
2022
0.43
10%
90-10 Ratio (net income after housing costs)
I
2022
6.6
38%
90-10 Ratio (net income before housing costs)
I
2022
4.1
5%

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Scorecard Container Measure Action Actual Value Target Value Tag S A m/d/yy m/d/yyyy