Ireland’s most affordable places for first time buyers
Saving for a deposit and choosing where to live are often the first steps to home ownership. Switcher.ie’s First Time Buyer Affordability Index considers various factors to reveal the most affordable locations to buy a house in Ireland.
The Central Statistics Office (CSO) figures show that the median price of a home bought in the 12 months to December 2024 was €355,000 with prices rising 8.7% year on year.
According to the latest report of the Banking & Payments Federation Ireland (BPFI), the average loan approval for first-time buyers was €313,547.
Why we’ve created the Affordability Index
Irish house hunters may have a fair idea of the cheapest and most expensive places to buy a home in Ireland, but the figures don’t always match reality because few first-time buyers fit an “average” buyer profile.
Several agencies report on regional house prices and housing market trends, but figures vary across different surveys and don’t take into account buyer status or type of property.
First home affordability depends on many different factors aside from property price, for example:
What is Switcher.ie’s First Time Buyers Affordability Index?
To understand what house price data means for you, the First Time Buyer Affordability Index looks at counties across Ireland to find the most and least affordable places to buy your first home.
We’ve recognised that sole and joint buyers have different starting points, so have calculated how long it could take to save for a deposit based on type of buyer, type of property and income in each area.
What's included in the Affordability Index?
Our research considered several factors alongside house prices, such as average incomes and household savings.
We analysed and ranked:
- Median house price by RPPI region (first time buyers (joint) and apartments (sole)
- Median income by county
- Deposit required based on Loan to Income (LTI) limit or 10% minimum
- Years to save up for mortgage deposit based on Household Savings Rate (HSR)
See the methodology section for further information.
Borrowing limits and deposit requirements
Mortgage lenders in Ireland require first-time buyers to put down a minimum 10% deposit on a property. Often, buyers need to pay more than 10% upfront because banks limit how much they will lend.
To work out a mortgage offer, lenders use the Loan to Income (LTI) ratio limit. In most cases, lenders will only lend up to four times a buyer’s gross annual income, so if the house price is high, it’ll take longer to save for the deposit or make up the borrowing shortfall.
Buying a home together
Homeownership is more affordable if you buy with a partner or friend, and is often the only way to get on the housing ladder.
Joint buyers can combine incomes, so the more favourable loan-to-income (LTI) ratio means you can borrow more. Buying with someone else not only improves lending limits, it significantly reduces the time it takes to save for a deposit.
The median income for joint buyers in 2023 was €86,226 and the average household savings ratio between July and September 2024 was 14% which suggests a couple may typically save around €12,000 a year.
Looking at house prices for first-time buyer purchases, it would take an average of 1.5 years for a couple to save for a house deposit in Longford but 8.3 years to save for a deposit on an average first time buyer property in Dublin.
- Average first time buyer house price: €365,000
- Average time to save for a deposit: 4.7 years
Most affordable places for joint buyers
| Rank | RPPI Region | Property price | Median joint income | Income to house price | Years to save |
|---|---|---|---|---|---|
| 1 | Longford | €180,000 | €74,569 | 2/5 | 1.7 |
| 2 | Leitrim | €220,000 | €82,590 | 3/8 | 1.9 |
| 3 | Donegal | €200,000 | €69,700 | 1/3 | 2.0 |
| 4 | Mayo | €232,000 | €76,931 | 1/3 | 2.2 |
| 5 | Roscommon | €240,000 | €79,105 | 1/3 | 2.2 |
Longford takes the top spot due to low house prices and decent median earnings. It’s followed by Leitrim with a larger house price but comparatively higher median earnings, which makes it easier for the average working couple to save more.
Least affordable places for joint buyers
| Rank | RPPI Region | Property price | Median joint income | Income to house price | Years to save |
|---|---|---|---|---|---|
| 1 | Dún Laoghaire-Rathdown | €609,999 | € 95,908 | 1/6 | 21.4 |
| 2 | Wicklow | €450,000 | € 90,024 | 1/5 | 10.7 |
| 3 | South Dublin | €445,000 | € 95,908 | 2/9 | 7.9 |
| 4 | Fingal | €430,000 | € 95,908 | 2/9 | 6.7 |
| 5 | Louth | €355,000 | € 79,452 | 2/9 | 6.5 |
Despite being home to the biggest earners in Ireland, Dún Laoghaire-Rathdown is the least affordable place in Ireland. Commutable counties Wicklow and Louth also featured in the least affordable. For those who already live in Dublin City, buying a first home there isn’t completely out of reach despite the price tag - this is due to the typically higher earnings of Dubliners.
Spotlight on Dublin
- Commuter areas around Dublin are the least affordable places for sole and joint buyers - with Dún Laoghaire the most out-of-reach area for first-time buyers.
- Dublin City and County is home to the highest house prices in Ireland; it could take up to 21.4 years for a couple to save for a property in Dún Laoghaire, although due to the higher earning potential of those living in the capital, it could take between 6.3 and 8.3 years for other areas of Dublin.
- The average Dublin joint housebuyer is 37 years old with a salary of €47,873, which is 11% higher than the median salary across Ireland.
- 36% of all newly completed houses in Ireland were built in Dublin City, Dún Laoghaire, Fingal and South Dublin during 2024.
Buying an apartment alone
Our Index shows the most affordable places to buy a home were not necessarily in the areas with the lowest house prices. Although cheaper property prices help, having a comparably higher income makes your mortgage more affordable, and deposits take less time to save.
The average median apartment price was €319,000, and the average income for sole buyers was €43,221.
It would take an average of 1.8 years for a sole buyer in Roscommon to save their deposit, but 32.2 years to save for a deposit in Dublin.
Top 5 affordable places to buy an apartment
| Rank | RPPI Region | Apartment price | Median income | Income to house price | Years to save |
|---|---|---|---|---|---|
| 1 | Roscommon | €100,000 | €40,034 | 2/5 | 1.8 |
| 2 | Monaghan | €95,000 | €35,894 | 3/8 | 1.9 |
| 3 | Donegal | €109,750 | €35,010 | 1/3 | 2.2 |
| 4 | Longford | €118,000 | €37,611 | 1/3 | 2.2 |
| 5 | Leitrim | €135,000 | €39,000 | 2/7 | 2.5 |
Counties away from the larger cities or coastal areas, like Roscommon, Monaghan and Longford, tend to be the most affordable and would take the least time to save the minimum 10% deposit.
Some places ranked higher in our Affordability Index due to comparatively higher median sole incomes.
Least affordable places to buy an apartment
| Rank | RPPI Region | Apartment price | Median income | Income to house price | Years to save |
|---|---|---|---|---|---|
| 1 | Dún Laoghaire-Rathdown | €455,000 | €47,873 | 1/9 | 46.1 |
| 2 | Kerry | €300,000 | €37,151 | 1/8 | 34.9 |
| 3 | Dublin | €370,000 | €47,873 | 1/8 | 32.2 |
| 4 | Wicklow | €338,000 | €44,750 | 1/8 | 30.8 |
| 5 | Dublin City | €351,000 | €47,873 | 1/7 | 29.0 |
Desirable coastal areas of Dún Laoghaire, Wicklow and Kerry are most out of reach for first-time flat hunters buying alone, with Dublin apartments for well-paid professionals at a premium.
Based on the median sole income for Dublin, it could take an eye-watering 46 years to save for an apartment in Dún Laoghaire if you’re buying alone. This is because, based on LTI limits, you’ll need to stump up way more than the minimum deposit to cover the shortfall.
Spotlight on Longford
- Longford topped our rankings as the most affordable place for joint buyers and was affordable for sole buyers too. The county is home to the towns of Longford, Edgeworthstown and Ballymahon.
- With some of the cheapest property prices in Ireland, it may only take 1.7 years to save the minimum 10% deposit for a first time property when earning and saving at the typical rate.
- The average age of a joint housebuyer in Longford was 39, and the median income was €37,611 in 2023, 15% below Ireland’s median wage of €43,221.
- There were only 129 new dwelling completions last year, just 0.4% of all new completions in Ireland during 2024.
Compare mortgage rates & deals
Find a range of first time buyer and home mover mortgage deals in Ireland using our comparison.
What help is available for first time buyers?
First Home Scheme (FHS)
A new government-backed scheme to help first-time buyers get on the property ladder. The First Home Scheme aims to make house purchase more affordable by supporting homebuyers with the cost of up to 30% of a newly built home.
Help to Buy Scheme
Help for first-time buyers to buy newly built homes and self builds. Borrowers can claim a tax rebate of up to €30,000 or 10% of the value of the property. If you qualify, you can claim a refund of income tax and deposit interest retention tax (DIRT).
Local Authority Affordable Purchase Scheme
The LA takes a percentage share in your home to cover the reduction in price. New, affordable homes in the scheme are in areas with the greatest housing need. In general, the maximum income limit for an affordable home is 85.5% of the open market value of the home divided by 4.
Mortgage Allowance Scheme
A scheme to assist tenants or tenant purchasers of local authority houses to become owner-occupiers. An allowance of up to €11,450 is paid to the lender over a 5-year period and repayments are reduced accordingly for the first five years of the mortgage.
Local Authority Home Loan
A Government-backed mortgage for first time buyers or other eligible applicants, available through the Local Authority Home Loan scheme. All types of homes qualify and you can borrow up to 90% of the market value of the property.
Help to buy schemes and new builds in Ireland
Many first time buyers are reliant on help to buy schemes and grants, and these schemes often require first time buyers to purchase a new build.
We looked at new build availability in each local authority to gauge how many houses may be eligible for one of the help-to-buy schemes.
New dwelling completions by local authority
Our analysis shows a correlation between areas with highest house prices and the number of new builds in 2024.
This means the type of housing that qualifies first time buyers for many help-to-buy schemes has been built in the most expensive areas, with areas around Dublin attracting the lion’s share of new builds in 2024 and places like Longford and Leitrim only seeing a fraction of Ireland’s new house builds.
Towns and cities often attract the most new housing developments, which means rural homebuyers could be disadvantaged.
First Time Buyer Affordability Index 2025
* See methodology section for calculation
Methodology
To create the First Time Buyers Affordability Index several factors were analysed:
- Median house price by RPPI region - apartments only (sole buyers) and first time buyer properties (joint buyers)
- Median earnings by county (individual and joint)
- Loan to income (LTI) limits
- Household Savings Rate (HSR)
- Minimum deposit required
Years to Save was calculated by dividing the average ‘deposit required’ by the derived average annual household saving amount for each county.
The ‘deposit required’ was based on the house price minus LTI (median income multiplied by 4). If the average LTI limit was more than 90% LTV, 10% of the property price was used. If LTI was less, the property shortfall figure (e.g. >10%) was used.
Household savings for each county were calculated using the HSR of 14% (CSO: Q3, 2024) against the average median income for each county.
The data was collected and analysed in February 2025.
Sources
- Median first time buyer property price by RPPI, Dec 2024 (data sourced Feb 2025): Market-based Household Purchases of Residential Dwellings
- Median apartment price by RPPI, Dec 2023 (data sourced Feb 2025): Market-based Household Purchases of Residential Dwellings
- Median annual earnings by county, 2023 (data sourced Feb 2025): Annual earnings
- Number of new builds by county, 2024 (data sourced Feb 2025): New Dwelling Completions
- Household savings rate (Q3,2024): Household Savings
Compare mortgage rates & deals
Find a range of first time buyer and home mover mortgage deals in Ireland using our comparison.
