This probably won’t come as a huge surprise to people renting in the capital.
People living in rental accommodation in Dublin spend approximately a quarter of their income on rent, according to a new study by UK property company Barratt Homes.
The study sought to identify, on average, how much of their income residents of various cities around the world had to spend on rent, finding that people renting in Dublin spend approximately 25% of their wages in putting a roof over their heads.
The figures used in the study were based on the average cost of renting a one-bedroom apartment and the gross average salaries in each city. The average cost of renting in Dublin, for example (where there’s a home ownership rate of 71%) was listed as £935 per month (approximately €1075).
If we think it’s a struggle to meet rent here, spare a thought for the residents of San Francisco, who spend approximately 47% of their income on rent, making it the least affordable city ahead of London (45%), Hong Kong (44%), Tokyo (42%) and New York City (40%).
Of all the cities surveyed, Cape Town in South Africa was found to be one of the most affordable cities in which to rent, taking up approximately 23% of renters’ income.
You can check out the report in more detail here.
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