Rents in Meath up 9.5 per cent in a year

The cost of renting a home in Meath rose by 9.5 per cent in the past year according to the latest rental report from property website Daft.ie with the average listed monthly rent now hitting a staggering €1,942.

Rents in the second quarter of 2024 were 1.6 per cent higher than the previous quarter as the upward trend in rents shows no sign of abating.

The average open market rent nationwide between April and June was €1,922, up 7.3 per cent on the same quarter in 2023.

The rate of increase in Meath was well above this nationwide average at 9.5 per cent. The average open-market rent in the county is €1,942, which is €20 above the national average at €1,922.

Compared to pre-Covid rents, the rate of increase in Meath is a massive 44 per cent. Nationally, the average increase was 41 per cent.

The report found that the average listed rent for a one-bedroom apartment in Meath in the second quarter of this year was €1,218, up 5.1 per cent on the same period last year, while the average rent sought for a three bedroom house was €1,740 (up 7.7 per cent). The average rent for a four-bedroom house went up by 9.3 per cent over the past year to €2,028.

As has consistently been the case in recent years, availability on the rental market remains extremely tight. On 1st August, there were just over 2,200 homes available to rent across the country, effectively unchanged on the same date a year previously ,and half the 2015-2019 average of 4,400.