Rent in Cork city is up by nearly 10%.
The latest report by the Residential Tenancies Board contains data confirming that rents are continuing to rise at a rapid rate in both the city and county of Cork.
“Cork County (11.1 per cent) saw a higher year-on-year growth rate than Cork City (9.3 per cent). The standardised average rent in Cork City stood at €1,389 per month in Q3 2021, almost €300 higher than for Cork County (€1,092).”
The report also broke down average rents by area, and found that the highest rents are being paid in Cork City South Central, where the average rent stands at €1,487. The available data suggests that the lowest rents in Cork can be found in the Skibbereen – West Cork region, where the average rent price is listed as €877, making it the only area in Cork where average monthly rent falls below €1,000.
The report reflects data from the third quarter of the year, encompassing changes in rents between July and September 2021.
Elsewhere, the highest standardised average rent for Q3 2021 was in Dublin at €1,916 per month while the lowest monthly rents were in Leitrim where the standardised average stood at €731 per month.
On a national level, the standardised average rent stood at €1,397 in Q3 2021 – an increase of €44 compared to the previous quarter. The report can be read in full here.