The share of monthly leases, or wolse (월세) in Korean, is making a notable increase in Korea’s rental housing market, marking 60.5% as of 2016. Meanwhile that of jeonse(전세), or lump-sum deposits without monthly rent, is on the decline. A major driver of the growth in wolse is low interest rates. To be more specific, low rates mean low returns, and ultimately, this means less profit to the lessors. Moreover, Facing rising jeonse prices and tenants’ limited options, the rental market gives the bargaining power to lessors The increasing share of wolse is particularly noticeable among the young and senior populations. This is because both age groups shoulder a bigger burden in terms of financial and credit constraints, and have a narrower choice of housing. In addition, although wolse has a smaller deposit compared to jeonse, the monthly rent payments can weigh heavily on households’ housing expenditure. The proportion of housing expenditure in current income can be understood through the rent-to-income ratio, or RIR. Low-income young and senior wolse tenants have a higher RIR than other age groups, posting 34.2% and 37.7%, respectively. In particular, it was found that seniors in the lowest first and second income decile were spending over 50% of their monthly income on housing.