The average monthly rent in Cavan now stands at €1375, up 83% compared to this time five years ago.
While the average rent in Monaghan costs €1,299, up 65% on 2020 rental prices. According to the latest Daft.ie report, a lack of supply continues to drive up prices, with effectively no new rental housing added outside Dublin in recent years.
On February 1st, there were fewer than 2,300 homes available to rent across the country, down one quarter on the same date a year previously and well below the 2015-2019 average of almost 4,400. As of today on Daft.ie there are 35 homes for rent across the Northern Sound region, 14 in Monaghan and 21 in Cavan.
In Monaghan, market rents were on average 7.6% higher in the final three months of 2024 than a year previously, while in Cavan the increase was 6.3%. The report released today found rent controls are contributing to the housing crisis. Author of the report, economist Ronan Lyons says these controls are having a negative effect:
