The proportion of people living in rented accommodation rose sharply in the wake of the financial crisis in Iceland. In 2008, 12.8% of the population rented their housing. By 2014 this proportion had risen to 20.8%. Despite this sharp increase in the number of tenants, Iceland had the second lowest proportion of tenants and the second highest proportion of owner-occupiers without a mortgage, when compared to the other Nordic countries in 2013.

Tenure status is related to both age and income. Of 25-34 year olds 35.5% lived in rented accommodation and 7.9% lived in owner-occupied housing without a mortgage. In comparison, only 9.7% of people age 65 and above rented their dwellings whereas 48.2% of them owned their housing debt-free. Of people in the lowest income quintile 37.4% were tenants, compared to 9.3% in the top quintile.

Social indicators: Tenure status 2014 - Statistical Series