The headline number

The average open-market rent nationwide in Ireland was €1,980 per month in Q1 2026, with national availability hitting a record low of under 1,900 units.

Let that sink in. Fewer than 1,900 rental properties listed across the entire country. For context, Dublin alone has a population of over 1.4 million.

Rents have now risen in 13 of the past 14 years, standing 34% above pre-Covid levels and nearly 80% higher than a decade ago.

What the numbers look like by location

The €1,980 national average covers a wide range:

  • Dublin: €2,480 per month on average for open-market rents
  • Outside Dublin: around €1,695 per month

If you're planning to move to Dublin for college, a two-bed apartment — which two students might share — averaged €2,086 per month nationally in Q4 2025. Split between two people, that's €1,043 each. Before bills. Before groceries.

Why is it this bad?

Supply. Rental availability nationally fell to a record low of under 1,800 listings in February 2026 — down 22% year-on-year.

Widespread uncertainty about new rent controls appears to have worsened ongoing supply shortages, as landlords held off listing properties or sold up ahead of new rules taking effect on 1 March 2026.

Those new rules replaced the old Rent Pressure Zone (RPZ) system with a nationwide cap, limiting annual rent increases to 2%, or the rate of inflation if lower. This applies to new tenancies from March 2026. It doesn't fix prices at current levels — it caps how fast they can rise from here.

The Rent Tax Credit — and why it matters

If you're renting and paying income tax, there's a credit you can claim directly back from Revenue.

The Rent Tax Credit is worth up to €1,000 per year for a single person in 2026. The government confirmed in Budget 2026 that it will run until at least the end of 2028.

Here's how it works. The credit is calculated at 20% of rent paid, up to a maximum of €1,000. So if you pay €800 per month in rent (€9,600 per year), 20% of that is €1,920 — but the credit is capped at €1,000. You'd get €1,000 as a direct reduction in your income tax bill.

On a take-home basis, €1,000 off your tax bill works out as roughly €83 per month back in your pocket across the year.

You claim it through Revenue's myAccount. You can claim mid-year rather than waiting until your annual return, which means you see the benefit in your monthly pay sooner.

Despite this, Revenue data suggests that hundreds of thousands of eligible renters still haven't claimed what they're owed.

What this means if you're moving out for college in September

Practically speaking:

  • Start looking earlier than you think. Properties in high-demand areas are letting within 7–10 days. Set up alerts on Daft.ie now.
  • Budget for upfront costs. Standard practice is one month's deposit plus one month's rent in advance — that's two months' rent before you get your keys.
  • Flatsharing is the norm, not a compromise. Even professionals in Dublin share houses. Rooms in shared houses start from around €700–€900 per month in many areas.
  • Once you're working, claim the Rent Tax Credit. Log into myAccount on Revenue.ie and add it under PAYE credits as soon as you're paying income tax.

The Punt Rent module covers your rights as a tenant, how deposits work, and what to do if something goes wrong with your landlord.

DISCLAIMER: This article is for educational purposes only. For personal financial advice, speak to an authorised financial advisor or contact MABS on 0818 07 2000.