Renters and homeowners not only experience different levels of housing precarity, but the very nature of their precariousness is also different. This article advances our measurement of precarious housing, with a focus on its differential impacts across tenure types in Ireland. Using EU-SILC data (2008–2016), we investigate the prevalence and depth of housing precarity and the drivers of precarious housing. This period is of particular relevance as policymakers focussed on protecting homeowners from the fallout of the property crash, while neglecting the experiences of renters. We show that both private and social renters experience a higher level of precariousness. Furthermore, the tenure effect is more pronounced than the global financial crisis itself. Relevant for social policy interventions is our finding that low consumer debt shields households from experiencing housing precarity and suggests public debt advice services are crucial in mitigating these impacts. Overall, we discuss how housing precarity interacts with other social risks and demonstrate how the experience of precarious housing shifts class boundaries towards the squeezed middle and widens the gulf between renters and owners. These findings have political and policy implications for similar liberal housing regimes experiencing declining homeownership, an expansionary rental sector and widening housing wealth disparities.