Rents in Waterford increased by 6.9% in 2025, according to the latest Daft.ie Rental Price Report Q4 2025.

The report shows that the average monthly rent for a two-bedroom apartment in Waterford city reached €1,525 in the final quarter of 2025. That figure marks a sharp rise compared to the same period in 2024.

In Waterford county, renters paid an average of €1,751 per month for a three-bedroom house in the final quarter of the year. That represents a 9.8% annual increase.

Rental Supply Falls to Historic Low

Nationally, rents rose by 4.4% during 2025, up from 3.6% in 2024. Market rents have now increased in 13 of the last 14 years. They sit one third above pre-Covid levels and 80% higher than a decade ago.

The average rent for a two-bedroom apartment across the country reached €2,086 per month between September and December.

Supply continues to tighten. Fewer than 1,800 homes were available to rent nationwide on February 1st. That figure marks a 22% drop compared to the same date last year. It also represents the lowest availability recorded for early February since 2006.

Dublin recorded the steepest fall in supply, with availability down by more than one third year-on-year.

Waterford Among Highest Rent Increases Outside Dublin

While Dublin rents rose by 3% in 2025, cities outside the capital saw much stronger growth.

Rents increased by:

• 11.4% in Galway city

• 7.5% in Cork city

• 6.9% in Waterford city

• 5% in Limerick city

Despite Waterford’s lower average rent compared to Dublin — where a two-bedroom apartment now averages €2,438 — the rate of increase locally remains significant.

Economist Warns of Supply Pressures

The report’s author, Ronan Lyons, Professor of Economics at Trinity College Dublin, said uncertainty around new rent controls may have worsened supply shortages.

He said the country now has fewer rental homes available than at any point in nearly two decades.

Lyons noted that extremely tight supply continues to push rents higher in the open market. He also pointed to a sharp fall in room rental availability.

He said it remains unclear whether landlords are delaying listings until new tenancy rules take effect in March or whether some have exited the market entirely.

Pressure Mounts on Renters

The latest figures underline continued pressure on renters in Waterford. While local rents remain below the national average, prices continue to climb at a pace above Dublin’s growth rate.

With supply at record lows and no immediate signs of improvement, competition for available homes in Waterford looks set to remain intense in 2026.

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