Rent prices across Ireland continue to rise, with new data showing they were up an average of 9% to €1,415 per month at the end of last year for new tenants.
The startling figure was revealed in the Residential Tenancies Board’s (RTB) quarterly Rent Index report for the October to December period of 2021 (Q4 2021), which was published today.
The report is based on renters taking up new tenancies that are registered with the RTB.
READ MORE: Ireland house prices: The salary you need to buy a home in every county in 2022
It found that new rents nationally increased by 9% in the last quarter of 2021, from €1,298 in the last quarter of 2020, to €1,415 for the same period last year.
However, rental costs varied greatly from county to county.
During Q4 2021, average rents in new tenancies in Dublin were substantially higher than those outside Dublin at €1,972 per month, compared to €1,104 per month.
While Dublin had the highest average rent for new tenancies at €1,972 per month, Leitrim had the lowest at €740.
The report also noted a huge drop in the number of new rents registered in Q4 2021, which was 48% less than during the same period the previous year.
RTB Director Niall Byrne said this is “likely driven by factors such as continuing constraints on the supply of rental properties and by current tenants choosing to stay longer in their existing tenancies.”
The Rent Index breaks down how much on average new renters were paying in every county during the last quarter of 2021.
The suggested rule of thumb is that renters spend 30% of their monthly income on rent.
Using today's Rent Index data, we take a look at how much it would cost to start renting a house in every county in Ireland, and the salary you would need to be taking in per month to live comfortably if you were putting 30% of it into rent.
The results are based on one single renter, so can be divided accordingly if it is split between multiple tenants.
Carlow
Average cost of monthly rent: €1,102.99
Monthly salary needed to afford it: €3,676.83
Cavan
Average cost of monthly rent: €778.07
Monthly salary needed to afford it: €2,593.56
Clare
Average cost of monthly rent: €963.40
Monthly salary needed to afford it: €3,211.33
Cork
Average cost of monthly rent: €1,247.71
Monthly salary needed to afford it: €4,159.03
Donegal
Average cost of monthly rent: €762.14
Monthly salary needed to afford it: €2,540.46
Dublin
Average cost of monthly rent: €1,972.23
Monthly salary needed to afford it: €6,574.10
Galway
Average cost of monthly rent: €1,200.57
Monthly salary needed to afford it: €4,001.90
Kerry
Average cost of monthly rent: €950.82
Monthly salary needed to afford it: €3,169.40
Kildare
Average cost of monthly rent: €1,373.73
Monthly salary needed to afford it: €4,579.10
Kilkenny
Average cost of monthly rent: €1,037.37
Monthly salary needed to afford it: €3,457.90
Laois
Average cost of monthly rent: €1,036.06
Monthly salary needed to afford it: €3,453.53
Leitrim
Average cost of monthly rent: €739.70
Monthly salary needed to afford it: €2,465.66
Limerick
Average cost of monthly rent: €1,203.31
Monthly salary needed to afford it: €4,011.03
Longford
Average cost of monthly rent: €835.44
Monthly salary needed to afford it: €2,784.80
Louth
Average cost of monthly rent: €1,184.72
Monthly salary needed to afford it: €3,949.06
Mayo
Average cost of monthly rent: €820.31
Monthly salary needed to afford it: €2,734.36
Meath
Average cost of monthly rent: €1,356.83
Monthly salary needed to afford it: €4,522.76
Monaghan
Average cost of monthly rent: €805.08
Monthly salary needed to afford it: €2,683.60
Offaly
Average cost of monthly rent: €897.42
Monthly salary needed to afford it: €2,991.40
Roscommon
Average cost of monthly rent: €864.68
Monthly salary needed to afford it: €2,882.26
Sligo
Average cost of monthly rent: €890.25
Monthly salary needed to afford it: €2,967.50
Tipperary
Average cost of monthly rent: €841.06
Monthly salary needed to afford it: €2,803.53
Waterford
Average cost of monthly rent: €1,030.55
Monthly salary needed to afford it: €3,435.16
Westmeath
Average cost of monthly rent: €1,011.57
Monthly salary needed to afford it: €3,371.90
Wexford
Average cost of monthly rent: €977.11
Monthly salary needed to afford it: €3,257.03
Wicklow
Average cost of monthly rent: €1,522.80
Monthly salary needed to afford it: €5,076.00
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