The average price to rent a home in Mayo is €593 per month now according to the latest Rental Price Report which was published this week, a 7.3 per cent increase on the price 12 months ago. The report which was published by property website Daft.ie has found that nationally the rental prices are eight per cent higher than in 2008 and 50 per cent higher than when the market hit its bottom in 2011.
According to the report, the cost of renting a one bedroom apartment in Mayo now stands at €428 per month, a 4.9 per cent rise from the year previously. When it comes to houses, a two bedroom house has increased in price by seven percent to €487 per month, with a three bedroom house now costing €584 per month up 3.7 per cent. When it comes to larger homes for rent a three bedroom house is coming in at an average rental price of €636 per month, up 5.6 per cent and a four bedroom house has seen its rental price per month increase by 10.6 per cent up to €718 per month. The report also states that rents in Mayo have risen by 14.4 per cent since the market hit its lowest point in 2011
Compared to other counties in Connacht, Mayo comes in at third place with the average rental price in Galway county now €673 per month, and Sligo at €624 per month. While in Roscommon the average monthly rent costs €532 per month, and €502 per month in Leitrim. In Galway city the average rental price is now €975 per month an increase of ten per cent on the year previously.