The cost of Rent in Roscommon has increased by an average of 5.3% during the past 12 months according to today’s report from property website Daft.ie
Overall rent prices have increased by 11.5% since the “trough” or lowest level, compared to a 41.6% increase in Galway City.
The good news, is that despite the increase the cost of Rent in Roscommon is still among the least expensive places in Ireland to rent a home. The report found that the average price to rent in Roscommon was €550 per month with a full break down as follows:
The rental yield – the ratio of rents to the price of the property – is down slightly over the past 12 months in all cases apart from 5 Bedroom Houses, were it increased slightly (by 0.3%).
The rental yield is comparable to an interest rate and is frequently used as a measure of how healthy the property market is.
The report also found that in the case of 1, 2 and 3 bedroom homes it continues to be less expensive to pay off a mortgage than rent a home, even allowing for an increase in the interest rate.
You can read our report on the last rent cost survey here