Cost Rental housing was introduced in 2021 as a new form of housing tenure in Ireland, where the tenant pays a rent which is set to cover the cost of delivering, managing, and maintaining the home. It is targeted at people on moderate incomes who do not qualify for social housing but who may be facing affordability pressures in the private rental market. Cost Rental tenancies also offer long-term security of tenure.
Eligibility and income parameters are a key tool in targeting State-supported Cost Rental homes at those who fall within the moderate income cohort. The primary condition for accessing Cost Rental housing is a net annual income under a certain limit, which since 1 August 2023 has been €66,000 per year for homes in Dublin and €59,000 elsewhere, set through secondary legislation. Net income is defined as gross income with income tax, USC, PRSI contributions, and pension contributions deducted.
The legislation governing Cost Rental gives my Department broad scope to consider a range of factors when setting these household income limits. These factors may include changing economic conditions, Government policy priorities, the current state of the Cost Rental sector, and future plans for the tenure.
The Programme for Government includes a commitment to "keep the income criteria for cost rental under review". My Department is currently conducting a comprehensive review of the income limits to ensure they remain fit for purpose.
