Average rents for homes in the Fermanagh and Omagh area increased 38 percent from the first quarter of 2020 to the end of 2025. The monthly figure rose from £520 to £716 over that period. Median full-time annual wages in the borough grew 39 percent in the same timeframe.

In Armagh, Banbridge and Craigavon borough, average rents climbed 45 percent, from £543 per month in early 2020 to £787 by late 2025. Median full-time annual wages there increased 26 percent during those five years.

Jordan Buchanan, CEO of PropertyPal, stated that rental costs rose significantly due to high demand and limited supply. He noted this growth exceeded wage increases and strained household budgets.

Buchanan added that annual rent growth across Northern Ireland has slowed to 5 percent, down from over 10 percent in mid-2024. He attributed this to better mortgage affordability shifting demand toward home purchases.

Buchanan indicated that if mortgage rates stay stable, rent increases may continue at this slower rate. He pointed to uncertainty in interest rates from global economic conditions.