New data from Limerick Chamber shows the monthly cost of rental properties in Limerick is up an average of €400 in the last year.
The analysis also reveals just 16 homes available to rent in the city last month while the county including the city have had fewer than 30 homes available to rent each month for half a year now, with January and February seeing the lowest number of properties on the market.
Its rental monitor looks at the whole Mid-West region, and found 86 homes were available to rent across Limerick, Clare and Tipperary in February.
Included in this figure are 34 apartments, of which five were in Limerick City.
The average price stood at €1,317 a month, but this rose to an average of €1,828 for the 16 homes on the market to rent in Limerick City.
In the wider county, there were just 26 homes to rent at an average cost of €1,642 a month.
In Clare, 29 of the 35 homes available to rent had a BER of C or lower while there were just 28 apartments listed for rent in all of Tipperary.
Limerick Chamber economist Diarmuid O’Shea says supply remains low and the situation does not seem to be improving.