Cost of renting homes continues to soar in Waterford, latest Daft report confirms

Average rents in Waterford city have increased by almost 10% over the past year and now stand at €1,616, new figures in the latest Daft.ie rental report show.

According to the report, which has just been published, the average rent for a one-bedroom apartment in Waterford city has increased by 11.2% while the cost of renting a two-bedroom house has increase by 9.6% over the past 18 months. 

Furthermore, Daft reports that these increases represent an increase of 58% approximately on pre-pandemic year-on-year increases in the rental market in Waterford city. 

As for County Waterford, market rents increase by an average of of 7.4% during the second quarter of 2024 in comparison to previous year. The average rent in the county is now listed as €1,590, a 64% increase from pre-pandemic levels.

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On a national scale, the latest rental report indicates that market rents rose by 2% on average in the second quarter of 2024.

These new figures mark the fourteenth consecutive quarter in which rents have increased nationally and the 45th time in the last 48 quarters.

The average open-market rent nationwide in the second quarter of the year was €1,922 per month, up 7.3% year-on-year and 41% higher than pre-pandemic market rental figures.