The cost of rent has gone up by nearly 9% in the past year.
Rents for new tenancies between January and March were up by 8.9% on the same period last year.
The latest figures from the Residential Tenancies Board (RTB), shows average rent for new tenancies nationally was €1,544 for the first three months of the year.
Compared to new tenancies registered in the last quarter of 2022 it was a 2.5% rise, amounting to an average increase of €38 a month.
The data from the RTB also shows new rental agreements for apartments were more expensive than houses with the €1,586 the average rent for an apartment, compared to €1,522 a month for a house.
The average rent for a new tenancy in Dublin was €2,102 per month - the highest in the country.
The average rent for new tenancies in Cork City was €1,490 per month between January and March, which was €381 higher than for Cork County which stood at €1,109 per month.
Today the RTB published the Q1 2023 Rent Index, which provides an overview of rent levels in new tenancies in the rental sector.
Access the report, press release, and infographic here: https://t.co/Dzg2pLIf8B
?? A thread on findings from the #RTBRentIndex 1/10 pic.twitter.com/ao92K8AG8F
— Residential Tenancies Board (@RTBinfo) August 31, 2023
The county with the fastest growing average rent for new tenancies, registered between January and March, was in Co Roscommon which saw a 23.7% increase in the past year.
The lowest increase was in Co Carlow, where average rents for new tenancies increased by 2% in the past year.
Sixteen counties had average rents above €1,000 a month for the first three months of the year: Carlow, Clare, Cork, Dublin, Galway, Kerry, Kildare, Kilkenny, Laois, Limerick, Louth, Meath, Waterford, Westmeath, Wexford, and Wicklow.