How much do you need to live comfortably in Ireland?

As the cost of living continues to climb in Ireland, you might be curious about how much income is required to maintain a comfortable lifestyle. Learn what is considered a reasonable salary in Ireland and explore practical tips for managing your finances wisely.

The amount of money needed to live comfortably in Ireland depends on a few factors, including where you’re located, your personal spending preferences (are you careful with your cash or prefer the finer things in life?), the amount of people in your household, the type of accommodation you’re living in, and your general lifestyle (do you and your partner both need a car each?)

Unsurprisingly, you’re going to need a higher income to live comfortably if you’re living in central Dublin, compared to a rural area. Rent or mortgage payments will likely be your biggest expense, wherever you’re living. In the second half of 2024, rent was up by 8.1% annually for new tenancies, according to Statista. The County of Dublin had the highest monthly average rent for new tenancies, at €2,128, while County Donegal had the lowest, at €950.

In 2024, average monthly rent for new tenancies were as follows:

As of 2024, the average salary for a full-time worker in Ireland was estimated to be around €45,000 to €50,000 per year. However, Irish salaries can be significantly higher in cities like Dublin, particularly in sectors such as tech, finance, and pharmaceuticals. Minimum wage starts at €12.70 an hour for over-20s and entry-level roles may start closer to €30,000 to €35,000.

Yes, living in Ireland can be considered expensive compared to many other countries, especially in terms of accommodation, dining out, and transportation. Because of this, the cost of living in Ireland is generally higher than in many other European countries, especially in urban areas.

The standard cost of living in Ireland depends on your location and lifestyle, but here are some general estimates for monthly living costs:

• Utilities (Electricity, Heating, Water, etc.): €150 to €250

• Groceries: €300 to €500 for a single person, higher for families

• Transport: €100 to €200 (public transport) or more if you drive.

• Health Insurance: Optional but recommended, ranging from €50 to €150 per month.

• Rent:  As one of the most expensive cities, rent for a one-bedroom apartment in Dublin costs around €2,000+ per month. In other cities, rent is lower, ranging from €1,200 to €1,500 for an apartment. Living costs are significantly lower in rural areas.

Ireland's high cost of living is driven by several factors. In recent years, a thriving tech industry and significant economic growth has led to an increasing population. In turn, this has created a  limited supply of housing, especially in urban areas such as Dublin, which has led to high rents and property prices. Ireland’s VAT and utility costs (like electricity and heating) are also relatively high compared to other EU countries.

€35,000 is slightly below the average national salary in Ireland, but it could be manageable depending on your lifestyle and other factors.

A good rule of thumb is to ensure you're able to save at least 10-20% of your income after covering essential living costs, or following the 50/30/20 rule. To afford vacations, hobbies, and a social life, adding another €500 to €1,000 monthly to your budget may be necessary, depending on your lifestyle.

A single person living in Dublin may need around €40,000 to €50,000 annually for a comfortable lifestyle, while outside Dublin, €35,000 to €45,000 could be sufficient. Families generally require higher income, especially in urban areas.

In Ireland, a salary of around €80,000 to €100,000 per year or more is generally considered high. However, as discussed elsewhere on this page, this depending on location and profession. In Dublin, where living costs are significantly higher, a six-figure salary might be needed to maintain an affluent lifestyle. For other regions, €70,000 to €90,000 could be seen as a good-enough salary. High earners typically work in industries like tech, finance, law, or medicine.

A ‘good’ salary in Ireland generally ranges from €50,000 to €70,000 per year. This would allow a single person or small family to live comfortably, especially outside of Dublin. In Dublin, where living costs are higher, a salary closer to €60,000 to €80,000 might be considered good, providing enough to cover housing, utilities, and leisure activities while still saving. The definition of a ‘good’ salary also depends on lifestyle and financial goals, such as homeownership or travel.

Whatever your income, it’s always a good idea to prepare for the future and any unexpected expenses that may occur with a savings plan. Opening a Demand Deposit savings account allows you to top up your savings as and when you need to, so a little can turn into a lot over the years. Register for a Raisin Bank Account and start building up your savings today.