Cost of renting in Cork city is now three times the national average
Figures from across the country show that on average, rental property prices are now 40% above their pre-covid levels, and 75% above their Celtic Tiger peak. File picture.
Rental property prices across Cork city were three times the national average at the end of March.
A report from property website Daft.ie shows that rental property prices in Cork increased by 13% in the first three months of this year, significantly higher than the national average of 4.4%.
Figures from across the country show that on average, rental property prices are now 40% above their pre-covid levels, and 75% above their Celtic Tiger peak. In Cork city, this jumps to 64% and 110% respectively, with the average cost of renting a two-bedroom apartment now at €2,126 per month.
This represents an increase of €90 per month on the average price of a two-bedroom apartment in Cork city at the end of last year.
The report further showed that the average cost of a three-bedroom house in Cork city has increased by 12.8% year-on-year to €2,516 per month, up by €204 from 2025, and by €574 from 2024.
Across the eight different property types, in Cork city the highest increase, at 21.3%, was in the price of a one-bedroom apartment, at €1,806 per month, followed by a 19.3% increase in the cost of a two-bedroom house, at €2,206 per month.
Additionally, the cost of renting a double room in a house in Cork city at the end of March was €852, almost 6% higher than the national average of €806 per month.
On May 1, there were just 354 rooms to rent across Cork, Galway, Limerick and Waterford cities, representing a 22% decrease on the supply available this time last year.
Data from the report also showed further increases across the board in Cork county, seeing the average cost of a rented two-bedroom apartment jumping almost 20%, to €1,745 per month.
The cost of a rented three-bedroom house in Cork county increased by more than €100 per month to €1,937 at the end of March, rising by €516 per month since the end of 2024.
The cost of renting a double room in a home in Cork county at the end of March was €806 per month, which was €120 higher than the average cost at the end of 2024.
The Daft.ie report author Ronan Lyons said this surge in rents comes at a time when the overall availability of rental housing remains very limited.
“The first quarter of 2026 saw a sharp increase in rents – the largest quarterly increase going back to 2002,” said Mr Lyons.
“As a result, the price effects of the new system have appeared more quickly and more clearly than any increase in supply.
“It remains to be seen whether the new framework will influence investment and supply decisions – [whereas] the initial impact has been to bring about an increase in market rents larger than any seen over the past 25 years.”
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