How much money do you need to live comfortably in Ireland?
It is estimated that a family of four would need approximately 6,000 EUR per month to live comfortably in Ireland. This takes into account the costs of everyday living expenses, transport and housing and allows for disposable income.
How much money will you need for your trip to Ireland? You should plan to spend around €109 ($112) per day on your vacation in Ireland, which is the average daily price based on the expenses of other visitors. Past travelers have spent, on average, €32 ($33) on meals for one day and €18 ($18) on local transportation.
A single person estimated monthly costs are 870$ (870€) without rent. Cost of living in Ireland is, on average, 7.38% lower than in United States. Rent in Ireland is, on average, 8.72% lower than in United States.
This means a single person needs to make at least $66,434 after taxes to live comfortably. After their basic living expenses are covered, an individual could spend $19,930 on wants and set $13,287 aside for savings or debt paydown.
Average salary in Ireland in 2022
The average monthly gross salary stands at 3,683 EUR in 2022, translating to 44,202 EUR per year. This can be considered a good salary for an individual given that from 30,000 EUR you can live comfortably. Average salaries are higher in Dublin due to the higher cost of living.
In Ireland, the threshold for the top 10% of earners starts at gross personal earnings of just under €70,000 (€69,511.01) with the threshold for the top 1% beginning at just under €190,000 (€189,701.69).
| Total living expenses in Cork⁷ | Average cost |
|---|---|
| 1 person, per month (without rent) | EUR846.08 |
| 4 person family, per month (without rent) | EUR3,009.57 |
| Utilities, basic, for 85m² apartment | EUR150.61 |
The average semi-detached house nationally now costs $245,115 (€215,269), the Q2 REA Average House Price Survey has found – a rise of 2.5 percent on the Q1 figure of $239,064 (€209,944). In Tramore, County Waterford this semi-detached three-bedroom house is on the market for $244,809 (€215,000).
National Rental Trends
In Q1 2022, the standardised average rent in new tenancies for houses in Ireland stood at €1,447 per month, which is an increase of 4.2% on Q4 2021 and a rise of 10.0% year-on-year.
Ireland is not the cheapest place to settle down, but you'll find that it offers a relaxing, rewarding environment for your much anticipated life abroad. In many areas of Ireland, the cost of living is about US$2,500 per month.
How much do you need to retire in Ireland?
For people of independent means who wish to retire to Ireland, you should have an individual income of €50,000 per year. You must also have access to a lump sum of money to cover any sudden major expenses. This lump sum should be equal to, for example, the price of a residential dwelling in the State.
Leitrim. According to the Irish Mirror, the cheapest place to live in Ireland is Leitrim. This county is the most affordable place to buy a property, and it is also cheap to rent in this location. The average house price is €127,047 ($150,901).
It's called the 25 times rule, and it's very simple. You multiply your annual spending by 25, and that is the minimum amount of money you would need invested to fund your lifestyle without working.
This popular general budgeting rule allocates 50% of annual income to necessities like housing, 30% to discretionary expenses like travel, and the remaining 20% to savings. The median necessary living wage across the entire US is $67,690.
The ideal wage for employees for tax breaks is €75,000. THE ideal wage for tax breaks is €75,000 – according to TASC, the Dublin-based Think-Tank for Action on Social Change.
The bottom line is, yes, an €80,000 income is well above the average for an individual and above average for a household. However, many dual income households on average pay will exceed this level. However, it is not an income level that will leave many with a lot of spare disposable income at the end of the month.
The cost of living anywhere in the world is higher in bigger cities and not nearly as high in smaller towns and rural areas. This certainly holds true for Ireland. Ireland, overall, tends to be pricier than the average cost of living in the U.S.
