Cork City · report
Affordability in Cork City
At the average sale price, a home costs €403,435. With 10% down and a 30-year mortgage, the payment is €1,620 a month. Ireland sets no cap on the payment; the Central Bank limits most mortgages to four times gross income for first-time buyers and 3.5 times for others.
- Payment, two incomes
- 19%
- Payment, one income
- 38%
Try your own numbers
Starting from the average sale price of €403,435 in Cork City, the median net income of a household, €51,289 a year (2022, Cork City), and a mortgage rate of 3.5% (August 2026).
The payment takes 19% of net income. Ireland sets no limit on it.
- Home price
- €403,435
- Monthly payment
- €1,630
- Share of net income
- 19%
Ireland against the EU
Share of people spending over 40% of their disposable income on housing, then the rest of Eurostat's survey of living conditions. These are national figures, shown here as context.
- Ireland
- EU
Show the numbers
| Year | Ireland | EU |
|---|---|---|
| 2025 | 5.3% | 7.7% |
| 2024 | 4.5% | 8.2% |
| 2023 | 4.7% | 8.8% |
| 2022 | 3.7% | 8.7% |
| 2021 | 2.6% | 8.7% |
| 2020 | 4.2% | 7.8% |
| 2019 | 5.2% | 9.4% |
| 2018 | 3.4% | 9.6% |
| 2017 | 4.5% | 10.1% |
| 2016 | 4.6% | 10.9% |
| 2015 | 4.7% | 11.2% |
| 2014 | 6.4% | 11.5% |
| 2013 | 4.6% | 11.6% |
| 2012 | 6.5% | 11.5% |
| 2011 | 6.1% | 10.6% |
| 2010 | 4.9% | 10.0% |
| Share of people who | Ireland | EU |
|---|---|---|
| Spend over 40% of income on housing | 6.3% | 7.7% |
| … nationals (adults) | 4.4% | 7.1% |
| … citizens of another EU country (adults) | 17.1% | 15.2% |
| … non-EU citizens (adults) | 38.0% | 18.1% |
| Live in an overcrowded home | 12.7% | 16.8% |
| Own their home outright | 39.7% | 43.7% |
| Own with a mortgage | 31.5% | 24.8% |
| Rent at market price | 16.3% | 20.8% |
| Rent at a reduced price or free | 12.5% | 10.7% |
Income is the CSO's median net household income: the whole household's income after tax and social insurance, from tax and welfare records. It is published for 2022 only, so today's price is set against that year. Ireland sets no limit on the payment as a share of income: the Central Bank limits most mortgages to four times gross income for first-time buyers and 3.5 times for others, and to 90% of the home's value. The CSO's prices are plain averages of the homes bought, so they move with the mix of homes.
Other reports for Cork City
Owning the average home costs less each month than renting it. Owning counts interest, running costs and the return the deposit could earn, at the average sale price; rent is the average rent of the tenancies registered with the RTB in the year. Repaying the loan is saving, so it is left out.
- Rent per month
- €1,701
- Owning per month
- €1,552
77.7% more homes were granted planning permission in the last 12 months than in an average year of the past decade.
- Permitted, 12 months
- 3,396
- Per 1,000 residents
- 15.2
Sale prices have fallen by 3% or more 7 times since 2010. The deepest began in Q2 2010.
- Deepest fall
- −42.0%
- Recovery from the low
- 42 months