Rents in Kerry increase by nearly 8% within a year

Rents in Kerry have increased by nearly 8% within a year.

According to the Residential Tenancies Board’s Rent Index, the average cost of rent in the county is nearly €750 per month.

The latest rent index monitors the cost of rent over the second quarter of this year.

The average cost of rent in Kerry now stands at €749, up 3.4% from the first quarter, and an increase of 7.8% year-on-year.

Within the county, Killarney has the highest rental costs at €782; the average rent in Tralee is €766; rents in South and West Kerry average €646; and Listowel has the lowest monthly rent at €619.

Rents in Kerry are at the highest level since 2008, when the average cost was €750 per month.

The Residential Tenancies Board says rising earnings, an economy close to full employment and rising levels of inward migration have all placed upward pressure on prices in the rental market.