REVEALED | Longford is county with fastest-growing average rent in new tenancies

Longford is the county with the fastest-growing average rent in new tenancies, with 18.5% year-on-year growth.

While the national standardised average rent increased by 7.6%, Leitrim recorded the lowest average rent nationwide - €800 per month to rent a new home.

It is followed by the counties Donegal (€827), Roscommon (€880), Monaghan (€892), Cavan (€918), Mayo (€938), Tipperary (€939), Sligo (€944) and Longford (€966), with rent below €1,000 per month.

Dublin has the highest rate in the country, with an average rent of €2,063 per month, followed by Kildare, Wicklow, Meath, Galway and Cork.

According to the Residential Tenancies Board (RTB) Q4 2022 Rent Index report, the national standardised average rent in new tenancies stood at €1,507, an increase of €30 compared to the previous quarter.

There were 15,868 new tenancies registered between October and December 2022, an increase of 15,4%. Outside of Dublin, the average rent stood at €1,174 per month, compared with €1,509 in new tenancies.

The RTB Q4 2022 Rent Index figures show strong growth nationally regarding the rental prices of newly registered tenancies. After a rapid increase in rent inflation for new tenants throughout 2021, inflation rates stabilised in 2022 yet remain high.