Two-thirds of people who are renting in Ireland are struggling to make their monthly payments.
The renting crisis is often seen as a young people’s issue, those in the 45-54 age bracket, are finding it the most difficult to cope, with 71% of those within this having difficulties meeting payments. Older renters, who are aged 55 and over, are also struggling to cope.
Female renters are finding it more difficult to cope than males. 67% of the total of those who identify as women are having difficulties, while 59% of men are finding it hard to afford their rent.
Those in the under 35 group are coping better than most, with 62% struggling to pay. This is the lowest in the four age groups.
Surprisingly Dublin renters are coping better than other areas of the country. Excluding Dublin, Leinster renters were also feeling the pinch, with 69% of those renters having issues. That figure reduced slightly for Munster, with 64% stating that they were under pressure. Connaught and Ulster renters were finding it most difficult to deal with increases with 73% of respondents saying they had issues paying their rent.
The number of houses available for rent across the country has dropped to an all-time low and has led to a further spike in rents around the country. The most recent rental report noted that there were just 1,397 homes available to rent on 1 February nationwide.
The average rent nationally now stands at €1,524 per month, an average of 10.3% higher than the same period in February 2020.