The Rental Sector in Ireland 2024

This chapter examines characteristics of properties that were rented during Quarter 4 (Q4) 2024 in Ireland. The analysis includes active rental properties relating to both private rental and Approved Housing Body (AHB) properties. Cost-rental rental properties are included as part of the total for private rental properties. There were 240,964 individual private rental properties and 50,507 AHB properties in the Residential Tenancies Board (RTB) data with an active tenancy as at the end of Q4 2024. 

Data on rental properties from the RTB were linked with a variety of other administrative data sources held within the Central Statistics Office (CSO) including Building Energy Rating (BER) data, Census 2022, Housing Assistance Payment (HAP), and Local Property Tax (LPT) returns to produce further insight into these properties. Alongside this analysis, there are comparisons made between rental properties and the wider property stock and other tenure types and populations. It has not been possible to link all properties with the BER, Census, HAP, and LPT data due to incomplete Eircode data and BER assessments not being available for all properties. A statistical table on match rates is included in the Background Notes of this release. 

Private Rental Properties

The first section of this chapter will statistically describe private rental properties as defined by the RTB data, using administrative data matching. Here, we predominantly match to Building Energy Ratings (BER) assessments data to provide further information about rental properties included in the private rental stock.

Dwelling Type

In 2024, apartments accounted for the largest share of private rental properties, representing almost half (49%) of the sector. Houses made up the remainder of the stock, including 19% semi-detached houses, 20% terraced homes, and 8% detached houses. A small proportion of private rentals (3%) fell into the "other" dwelling type category. Among all BER-rated dwellings, apartments made up only 17% of properties, a substantially lower share than observed in the private rental sector. The dwelling type for private rental properties was obtained from the BER assessment and supplemented with data from Census 2022 where matching was possible.

Building Energy Rating (BER)

Among matched private rental properties, the largest share of dwellings held a C rating (37%). A further 28% of private rentals were classified in the D-E category. A total of 14% of private rental properties achieved an A rating, while 5% fell into the F-G categories.

Overall, more than two-thirds (67%) of private rental properties were rated C or higher. The national BER-rated dwelling stock was broadly similar in composition, although it did contain higher proportions of F-G (9%) ratings than was observed in private rental dwellings (5%).

BER by Dwelling Type

The BER profile of apartments in the private rental properties group showed 22% were A-rated, a further 19% B-rated and 31% C rated.  A further 28% were rated D or lower.

Among detached dwellings with private tenancies, relatively few had A-ratings (5%), whereas 49% were rated C and a further 21% were rated D. Semi-detached and terraced houses shared a similar BER profile, with the majority in the C and D categories for private rental properties.

BER by Local Authority

BER ratings among private rental properties varied significantly by Local Authority. The highest proportions of A-rated private rental dwellings were recorded in Dun Laoghaire-Rathdown (36%), South Dublin (34%), and Fingal (21%). While the highest proportion of private rental dwellings rated F or G were found in Wexford (9%), Wicklow (8%), Monaghan (8%), and Offaly (8%)

In Local Authorities containing large urban areas, a substantial share of private rentals fell within the A and B categories, including South Dublin (53%), Fingal (50%), Dublin City (46%), Galway City (47%), and Cork City (32%).

Year of Construction

Private rental properties were predominantly built in recent decades, with a similar profile to the national BER rated stock.  More than two-fifths of private rental properties were built between 2001-2010, while a further 13% were constructed since 2011. Properties built between 1991 and 2000 accounted for 19% of private rental properties. Properties built before 1945 accounted for 12% of the private rental stock. The year of construction for rental properties was obtained from the BER assessment and supplemented with data from Census 2022 where matching was possible.

Main Space Heating Fuel

Among private rental properties, the most common main space heating fuel was mains gas, used in 40% of rental dwellings. A further 38% of private rentals predominantly used electricity as their main space heating fuel and heating oil accounting for a further 20% of private rental properties’ main space heating fuel. Heating oil was used in 33% of all BER-rated dwellings, representing a substantially higher share compared with private rental properties. 

Total Floor Area (TFA)

All private rental properties had a median Total Floor Area (TFA) of 80m². The Local Authorities with the largest median TFA among private rentals were Roscommon (104m²), Galway County(100m²) and Donegal (99m²). The smallest were Dublin City (66m²), Dun Laoghaire-Rathdown, and Cork City (both 78m²). These distributions may be the result of more apartments among the stock in urban areas. 

Housing Assistance Payment (HAP) - Private Rental Properties

Some 15% of private rental properties were also found to be active Housing Assistance Payment (HAP) properties at the end of Q4 2024.

Private Rental Property Valuations

Information about the value of private rental properties can be produced by linking dwellings to the Local Property Tax (LPT) database. Just over a third (35%) of private rental properties were valued at €200,000 or less for LPT purposes in 2024, similar to the percentage for all LPT liable properties (32%). A further 31% of private rental properties were in the next valuation band, between €200,000 and €262,500, compared with 30% of all LPT liable properties. Around 5% of private rental properties were valued at more than €525,001, compared with 9% of all LPT liable properties (See Figure 2.6).

In 2024, 24% of private rental properties in Dublin had a valuation of less than €200,000, compared with 42% of LPT liable properties in Dublin. The second band, €200,001 to €262,500 also represented approximately 30% of private rental dwellings, compared with 33% of LPT liable properties in Dublin. About 22% of active private rental properties were valued within the next band (€262,501 to €350,000) while a further 12% were in Band 4 (€350,001 to €437,500). Approximately 7% of Dublin rental properties were in a valuation band of more than €525,001 compared with 3% of LPT liable properties in Dublin (See Figure 2.7).

Outside Dublin, 55% of private rental properties were in the valuation band of less than €200,000 compared with 15% of all LPT liable properties in 2024. Nearly all (95% in 2024) private rental properties outside Dublin had a valuation up to €350,000 compared with 61% for all LPT liable properties (See Figure 2.8).

Approved Housing Body (AHB) Rental Properties

The second section of this chapter will statistically describe Approved Housing Body (AHB) rental properties as defined in the RTB data. Here, we match with Building Energy Ratings (BER) data to provide further information about rental properties included in the AHB rental stock. The match rate between AHB rental properties and BER data was 55% in 2024.

Dwelling Type

Within the AHB sector, apartments also represented the most common type of dwelling, making up 41% of all properties. Semi-detached houses accounted for 26% of AHB rentals, followed closely by terraced houses at 25%. Detached houses represented a small share of the AHB stock (3%), while properties classified as "other" comprised a further 5% of stock. Detached houses accounted for 27% of all BER-rated dwellings, significantly higher than in both the private rental and AHB sectors. The dwelling type for AHB rental properties was obtained from the BER assessment and supplemented with data from Census 2022 where matching was possible.

Building Energy Ratings

AHB rental properties were generally distributed in higher BER categories than national BER-rated dwelling stock and the private rental stock. AHB rentals had a substantially greater proportion of A-rated homes, with almost half (49%) of AHB rentals having achieved an A rating. A further 17% of AHB rentals were rated as either B or C. Around 15% were rated D or E and just 2% were in the F and G categories.

BER rating by Dwelling Type

Among AHB rental apartments, 55% were A-rated properties. A further 17% were classified as B and 16% as C. Nearly half (48%) of AHB rental terraced houses were A-rated, with a further 36% rated B or C. More than 40% of semi-detached AHB houses were rated A, and 35% were rated B or C. One in ten were rated E, F or G. Detached houses in the AHB rental sector had a more mixed BER profile, with 25% being A-rated, while 33% were C-rated and 21% were D-rated properties.

BER rating by Local Authority

For AHB properties, the highest proportions of A-rated dwellings were recorded in Wicklow (90%), South Dublin (74%), Meath (66%), and Cork City (63%). Other local authorities where more than half of AHB rentals held an A rating included Kildare (58%) and Kerry (56%).

The F or G rated AHB dwellings accounted for relatively small proportions in most areas. The largest share of F or G rated AHB stock was found in Roscommon (23%), Mayo (16%), and Galway County (11%).

Year of Construction

AHB rental properties were comparatively more modern than private rental properties, with almost four in ten (38%) built between 2001 and 2010, and a further 41% were built after 2011. Only 2% of AHB rental properties were constructed before 1945. The year of construction for AHB rental properties was obtained from the BER assessment and supplemented with data from Census 2022 where matching was possible.

Mains Space Heating Fuel

Electricity was the most common main space heating fuel among AHB rental properties, accounting for more than half (52%) of all units. Mains gas was the second most frequent heating fuel, used in approximately one-third of AHB dwellings (33%), followed by heating oil which was used in 10% of units. The main space heating fuel for AHB rental properties was obtained from the BER assessment.

Total Floor Area (TFA)

AHB rental properties had a median Total Floor Area (TFA) of 83m². Among AHB rental properties, the largest median TFAs were recorded in Westmeath (97m²), Wexford (92m²) and Meath (91m²) whereas the smallest TFAs were recorded in Cavan (63m²), Dun Laoghaire-Rathdown (67m²), and Dublin City (68m²). The TFA for AHB rental properties was obtained from the BER assessment.

Housing Assistance Payment (HAP) - AHB Properties

Approximately 1% of AHB rental properties were also found to be active HAP properties at the end of 2024.