According to the Irish charity Threshold annual report on renting in Ireland, 51% of renters are paying more than the accepted 30% of their take home pay to landlords.
The Threshold report states;
“As a rule of thumb, it is expected that we should pay about 30% of our income on our housing costs.
Anyone who has applied for a mortgage knows that the bank will apply a similar affordability test.
However, 51% of respondents are paying more than 30% of their income on rent.
For those on higher incomes, paying more than 30% of income on rent may have little impact on their finances and lifestyle. The housing cost overburden is less pronounced for those earning above €35,000 with just under half paying more than 31% of their take home pay on rent.
However, two-thirds of those earning less than €35,000 are paying more than 31% of their take home pay in rent”.
You can access the full Threshold report here.
https://www.threshold.ie/assets/files/pdf/final_full_document.pdf
Threshold is a registered charity and is not a regulatory organisation. For more than 10 years, Threshold have been campaigning for a Deposit Protection Scheme for renters.
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