A recent study has found that most mid-priced rentals are unaffordable for individuals earning around €40,000 per year. The research highlights the growing issue of housing affordability, particularly in major European cities where rents are rising faster than wages. In cities like Dublin, the average rent is approximately €2,102 per month, which is equivalent to the entire monthly take-home pay of a newly qualified teacher. This leaves many individuals struggling to make ends meet, with some forced to allocate over 30% of their income towards rent.
The situation is dire for low-income earners, who are often priced out of the market. Contributing factors include tourism, migration, low housing supply, and gentrification. Experts suggest that policy changes are needed to address these issues and ensure affordable housing for all.
