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Norway? Still expensive. New report leaves no illusions
There are still people who cannot afford basic expenses. Some spend over 40% of their income solely on housing needs. stock.adobe.com/licencja standardowa
According to the latest living conditions survey conducted by the Central Bureau of Statistics (SSB), in 2024, as many as 8.7% of Norway's residents had difficulties covering basic expenses. Another 21.6% of respondents admitted they would not be able to handle an unexpected expense of 20,000 NOK, which corresponds to about 980,000 people.
20.3% of respondents were burdened with consumer loans or credits, which posed a significant strain on their household budget, according to the SSB survey. The analysis indicates that housing-related costs, such as rent, utility bills, or mortgage installments, have significantly increased in recent years.
From 2017 to 2024, the percentage of households where housing expenses exceeded 40% of net income rose from about 15% to 21.6%. Particularly affected are households with the lowest incomes — in 2024, as many as 40.7% of them allocated over 40% of their income to housing costs.
From 2017 to 2024, the percentage of households where housing expenses exceeded 40% of net income rose from about 15% to 21.6%. Particularly affected are households with the lowest incomes — in 2024, as many as 40.7% of them allocated over 40% of their income to housing costs.
The greatest burdens are felt by people living alone, single parents, and young couples without children. The increase in interest rates since 2022 and previous hikes in energy prices have significantly impacted the rise in housing costs, especially for property owners.
Limited access to material and social goods
The rise in living costs has also affected Norwegians' ability to access basic material goods and participate in social life. In 2024, 22% of respondents admitted they could not afford at least one of the basic material goods, such as adequate heating for their home, regular consumption of meat or fish, or replacing worn-out clothes.
Additionally, 15% could not afford at least one of the basic social goods, such as a weekly vacation, regular participation in recreational activities, or dining out once a month.
Additionally, 15% could not afford at least one of the basic social goods, such as a weekly vacation, regular participation in recreational activities, or dining out once a month.
Percentage of people lacking at least one social (green) or material (black) good.Il. SSB
The most frequently indicated shortages are the inability to go on a weekly vacation (8.6%), lack of funds to dine out (6.7%), and inability to participate in regular recreational activities (6.0%). The increase in these percentages in recent years indicates a deteriorating financial situation for many residents of the country of fjords.