While there is no universally agreed price or rent to income ratio, or minimum residual income requirement, there is general agreement that lower-income households in particular should not be paying more than one third of their disposable income on rent or mortgage repayments.
Affordability of housing is also influenced by factors including the ability to secure mortgage finance, the availability of properties to buy and rent, the feasibility of saving the level of deposit required and the affordability of monthly mortgage repayments, both at current interest rate levels and in the event that interest rates increase.
Taking these factors into account, on 22 January, I announced a package of initiatives to help alleviate affordability pressures faced by households, particularly in areas of high housing demand and high accommodation costs. This includes the Rebuilding Ireland Home Loan, the Affordable Purchase Scheme, and a new Affordable Rental Scheme, all of which are targeted at those earning up to €50,000 for a single income household, or €75,000 for a dual income household.
Further details on the suite of initiatives announced on 22 January can be found at