The cost of renting a home in Cork has increased again.

According to the latest quarterly Rental Report by Daft.ie, renters in Cork shell out an average of €1,358 per month, up 7.9% on last year.

The report shows that renters are also paying a whopping €500 more per month than buyers.

In fact, at €1,358, Cork City renters must spend 47% more to live in a three-bed house than mortgage holders, who pay €923 per month.

Prices in the county are on the rise too, increasing by 14% to €730 per month for a one-bed apartment or €962 for a three-bed house.

In Dublin, the average rent is €2,000, with the average mortgage coming in at around €1,500.