It’s a rough time to be renting.

A new report reveals that Irish rents have rocketed by more than 10% in the past 12 months, while a 6.3% hike has brought the average cost of renting in Cork city to €1,539 per month and €1,217 elsewhere across the county.

According to the latest Daft.ie research, the rate of inflation for listed rents is at its highest since early 2018.

Meanwhile, decent accommodation is as rare as hen’s teeth – the report notes that there were only 1,397 homes available to rent on February 1st nationwide, just 221 of which were located in Munster.

Even the cost of renting a single or double room in Munster was on average up 10.3% in the fourth quarter of 2021 compared to the same period a year earlier.

The cheapest place to live is Leitrim, where rent will cost you around €779. It’s probably best to avoid South County Dublin if you’re planning a move to the capital – rent there will set you back an average €2,258.

“The quarterly increase in rents was 3%, similar to the increase seen in the third quarter of the year, but unlike then, it is Dublin now that is bearing the brunt of the pressure.” said the report author, Associate Professor of Economics at Trinity College Dublin Ronan Lyons.

“Rents in the capital rose by 4.1% between September and December, the largest three-month increase since early 2014 and a clear signal that ‐ whatever the covid19 lockdowns may have done to the rental market in the capital ‐ demand has clearly returned.”