The average cost of rent in the private sector increased by 37% between 2016 and 2022, according to the latest figures from Census 2022 released by the Central Statistics Office (CSO).
The figures show there are now 330,632 homes rented from private landlords across the State while the proportion of owner-occupied homes has fallen from almost 70% to 66% in the 11 years to 2022.
Among renters, those in the private sector have seen the biggest increases in housing costs. Their average rent went up by 37% in the six years to 2022, to an average of €272.91 per week. In contrast those in local authority housing, with far greater security of tenure, saw their rent increase by just 14% to an average of €77.92 per week.
The increasing cost of rent in the private sector is seen starkly in figures showing 109,000 households were paying €300 a week or more – more than double the 48,933 that were in 2016.
There were nearly four times as many households paying €400 a week or more in 2022, than there were in 2016.
The number of homes rented from local authorities – ie council homes – increased by 7% to 153,192.
Since 2016 the number of occupied dwellings owned with a mortgage or loan fell by 1%, although the number of dwellings owned outright, ie without a mortgage or loan, increased by 11%.