WHILE monetary consultants state that, as a rule of thumb, you should not spend greater than 30% of your gross earnings on hire, for a lot of in Wexford that is turning into an impossibility. In keeping with SalaryBand.com, the typical annual wage in Co Wexford sits at €28,000, €11,000 lower than the nationwide common wage of €39,000
t the identical time, a not too long ago printed report from property web site Daft confirmed that the typical month-to-month hire in Co Wexford had risen by 14.7% to €1,120 per thirty days. For somebody on the typical Wexford wage of €28,000, this might imply an outlay of 48% of their earnings on hire.
In sure areas, it’s a lot worse than this too. In cities like Wexford and Gorey, rents have been rising ever nearer to the €2,000 per thirty days mark, which might be €24,000 per 12 months.
A current survey carried out nationally exhibits that, on common, tenants are spending 35.5% of their month-to-month earnings on hire.
Have been you to comply with the 30% rule on the typical annual wage in Wexford, it could imply that you could possibly afford to outlay €700 per thirty days on hire. Nonetheless, unsurprisingly, there usually are not too many properties obtainable to hire at that worth in Co Wexford. Of the 25 properties presently listed to hire, just one suits that funds – a one mattress residence in Colestown, close to Barntown. A lot of the properties listed are across the €1,200 mark, whereas the most costly is a 3 mattress home in Killinick for €3,000.