Private rental accommodation in Northern Ireland has become less affordable since 2020, according to new analysis from the Office for National Statistics (ONS). The study found that the proportion of household income needed for rent rose from just under 22% in 2020 to 25.3% in 2024, as rental costs outpaced wage growth.
Despite the decline in affordability, Northern Ireland remains one of the most affordable regions in the UK for renters.
Northern Ireland Still Among Most Affordable Regions
The ONS defines affordability as spending 30% or less of household income on rent. In 2024, only two regions were more affordable than Northern Ireland: the North East of England, where households spent 19.8% of income on rent, and the East Midlands, at 24.4%.
By comparison, most English regions were less affordable, with London standing out as the least affordable, where renters spend almost 42% of household income on rent.
Long-Term Trends in Rent Affordability
Affordability in Northern Ireland has remained broadly flat in the longer term. In 2016, the rent-to-income ratio stood at 25.6%, almost identical to 2024. However, the recent rise since 2020 highlights renewed pressure on tenants.
PropertyPal Data Shows Rents Still Rising
Further analysis from PropertyPal indicates that rents continue to climb in Northern Ireland in 2025. The average residential property rented for £976 in the second quarter of this year, an increase of nearly 8% compared to the same period in 2024.
Jordan Buchanan, Chief Executive of PropertyPal, said: “While headline rents are likely to continue rising, we expect the pace of growth to moderate over the remainder of the year.”
