國內住宅自有率在高房價下長期上升的趨勢相當特異，為更完整衡量擁屋相對成本與借款限制對家戶擁屋機率的影響，本文使用行政院主計處的家庭收支調查資料，估計個別家戶的房價、流動資產、住宅權益、恆常所得、以及邊際所得稅率，並進行住宅租擁選擇的實證分析，發現不論是擁屋相對成本或借款限制對於擁屋機率均具有顯著負向的影響，此結果較直接以房價與租金來衡量擁屋相對成本合理。此外，所得、戶長年齡、戶長已婚、家戶人數、以及老年人數對於擁屋機率有顯著正向影響，但未成年子女數則有顯著負向影響。

Unusually, homeownership rates in Taiwan have steadily increased despite high house prices during the past three decades. This study measures the cost of homeownership by considering individual household house price, liquid wealth, housing equity, permanent income and marginal income tax rate, and uses data from the “Household Income and Expenditure Survey of 2002” to investigate household tenure choice behavior. The empirical results reveal that both the relative cost of owning versus renting and borrowing constraints significantly and negatively impact the likelihood of homeownership. Furthermore, all other things being equal, homeownership becomes more likely if head of the household is married, and also increases with increasing household income, age of the head of the household, number of family members, and number of elderly dependents, but
decreases with increasing number of children.