Leitrim rents soar: County leads in new tenancy rent increases

A recent study by the Residential Tenancies Board (RTB) reveals that the average rent for new tenancies nationwide has grown by 8.1 percent in the year to March, while rents for existing tenancies grew by 5.9 percent.

The report reveals that Leitrim saw a significant jump in rent prices. The county saw the highest rent growth for new tenancies with rents increasing by 22.6 percent. Longford followed at 22.5 percent.

Compared to the national trend in rent increases, Leitrim and Longford saw the greatest spike indicating a rising demand or limited supply of housing in the counties.

Rents for existing tenancies rose by 5.9 percent across the country. Leitrim had the lowest average rent for existing tenancies nationwide at €726 per month, making it one of the most affordable counties to rent in despite rent increases.

Rents in Leitrim have increased exponentially in the last six years. In 2017, Ballinamore was the second cheapest place to rent in Ireland with rents at €419 per month. 

Increased rents are being driven by shortages in the availability of rental accommodation, with some areas of Leitrim also experiencing a lack of supply.

The report also showed that existing tenants continue to pay lower rents than new tenants. The standardised average rent paid by new tenants nationally is now €1612 per month, while for existing tenants it is €1391 – a difference of €221 or 15.9 percent.

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While Leitrim remains one of the most affordable counties for existing tenancies, the sharp increase in rents for new tenancies highlights the growing pressure on the county’s rental markets.

As rent levels continue to climb, addressing the shortage of rental accommodations will be crucial for maintaining affordability in Leitrim.

“The soaring rate of rent increases in Leitrim, Donegal and Sligo is a wake-up call to the Government to take urgent action on housing in the North and West,” Sligo-Leitrim TD Marian Harkin said, reacting to the publication by the RTB. 

“Rents are rising more steeply in Leitrim, Donegal, Sligo and Roscommon because less houses are being built here and demand is completely outstripping supply.

“During the summer recess I hope Government TDs, the Taoiseach and his Ministers were listening to their constituents, if they were they will know that housing is the number one priority across the country.

“As they finalise Budget 2025, I hope they will put a comprehensive response to housing need at the heart of it, and I call on them to tailor that response for the regions, so that people in the Northern and Western region are not further disadvantaged when it comes to this most basic of needs,” Deputy Harkin concluded.

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