Waterford city recorded one of the largest rent increases in Ireland in the third quarter of 2025.
According to new figures from Daft.ie’s Q3 2025 Rental Report, rents in the city rose 11.4% year-on-year.
The average monthly rent for a two-bedroom apartment in Waterford city now stands at €1,490, up 9.9% on the same period last year.
In Waterford county, a three-bedroom house now costs an average of €1,747 per month, a 10% annual rise.
Rents Continue to Rise Nationally
Nationally, rents increased by an average of 1.7% between June and September, marking the 18th consecutive quarter of growth.
The average rent for a two-bedroom apartment nationwide is now €2,080 per month.
Market rents are one-third higher than pre-COVID levels and two-thirds above their Celtic Tiger peak in 2007.
Severe Shortage of Homes to Rent
The Daft.ie report highlights a sharp drop in rental supply.
As of November 1st, there were just 1,900 homes available to rent nationwide, down 21% year-on-year.
This figure represents less than half the average supply seen between 2015 and 2019.
In Dublin, rental stock has fallen by almost one-third compared with last year.
Regional Rental Trends
Outside of Dublin, where rents rose 2.7%, other cities saw sharper increases.
In Cork, rents climbed 9.3% year-on-year, while Galway and Limerick each recorded rises of 6%.
Rural areas outside the main cities saw rent inflation of just over 5% on average.
Economist Warns of Ongoing Supply Pressures
Commenting on the findings, Ronan Lyons, Professor of Economics at Trinity College Dublin and author of the Daft.ie Report, said Ireland’s rental market remains severely under-supplied.
“Rents are now one-third higher than five years ago and two-thirds above their Celtic Tiger peak,” he said.
“While inflation has eased from 13% in 2022 to 4.3% now, the sharp fall in available homes suggests further pressure on rents will continue.”
Lyons added that a significant increase in rental supply across all regions is needed to stabilise the market.
For the latest Waterford News and Sport, tune into WLR News on the hour and download the WLR App for news on demand.
