A quarter (25%) of adults have experienced increases in their monthly housing costs due to the current economic environment.
Research by StorageX among 1,000 people also found that those aged 25 to 39-years-old were facing the highest impact, with 31% having seen an increase to their rent or mortgage payments, compared with 26% of those between 40 and 59.
A quarter of those in the 25 to 39 age group said they considered moving in order to cope with rising costs.
A further 7% said that while their payments had remained the same, they expected increases to hit in the next year or so.
Two-fifths (40%) of those surveyed did not pay rent or mortgage payments.
Only 3% had actually moved to cheaper accommodation to deal with rising housing costs.
Other methods of coping included limiting their water, gas and electricity use (49%) and reducing lifestyle spending (38%).
Almost three in 10 (27%) had not made any changes to cope with the rising cost-of-living.
Most of those respondents that had made efforts to cut back on their outgoings said it had either made no difference (28%) or only somewhat eased the impact (26%) of rising costs.
Marcin Markiewicz, director of StorageX, said: “Based on these findings and given the present economic situation, it’s clear to see why the mayors of Manchester, Liverpool and London have recently called for rent freezes.
“With over half of respondents to our survey cutting down on gas and electric usage – as well as other lifestyle expenses – it’s concerning to see that these efforts seem to be generating such low financial returns.
“I’d imagine that many might feel as though they’re fighting a losing battle.”
Markiewicz added: “It’s understandable that moving may not seem an attractive option at this time, but we at StorageX have begun to see an increase in demand for storage, potentially due to the need to downsize and save on mortgage and rental payments.”
