Informal development is a specific form of urban sprawl and one of the main challenges for the sustainable development of major cities in Serbia. In this paper we examine this phenomenon with regard to the influence of spatial and urban vulnerabilities of the informal settlements on the housing and environmental deprivation, especially in the context of inhabitants? vulnerability to fuel poverty. The empirical research was carried out on the example of Belgrade?s suburban settlement Kaludjerica. The statistical analysis of the results has shown that the observed energy characteristics of housing have no relevant influence on households? financial burden of energy expenditure, but that they considerably influence households? perception on thermal comfort. The relation between a limited access to public services and the lack of amenities in the settlement and noted high household expenditure on transport has proved to be a particularly important indicator. Based on the perception on overall life commodities, a poor quality of the environment has been recognized as a key factor of deprivation related to housing.