What Landlords Should Know About Waterford’s Rental Demand
If you’re considering letting a property or investing in real estate, understanding local rental demand is crucial. A strong market not only helps ensure a steady stream of tenants but can also impact your long-term return on investment.
Waterford, the largest city in Ireland’s South East, is becoming an increasingly attractive option for landlords. With a growing student population, a chronic housing shortage, and steady rent increases, the Waterford rental market is showing clear signs of sustained tenant demand.
Whether you’re a seasoned investor or just dipping your toes into property letting, here’s what you should know about Waterford’s rental demand in 2025.
Is there demand for Rental Properties in Waterford?
In a word: yes! Waterford’s population has grown steadily over the past decade, driven by regional development, job creation, and an expanding student base. The South East Technological University (SETU) plays a central role, with thousands of students each year seeking accommodation close to campus.
Add to that a tight housing supply, and you have the perfect recipe for high tenant demand. According to recent figures, rental availability in Waterford remains well below demand, putting upward pressure on prices and making it a landlord’s market.
Many students and young professionals are competing for centrally located rentals, while others commute into Waterford from surrounding areas. This dynamic makes the Waterford rental market one of the most active in the South East.
What Types of Properties Are Most in Demand?
Student accommodation remains a reliable option, particularly around SETU and College Street. Purpose-built student housing is in short supply, so traditional house shares and multi-bedroom homes remain in high demand throughout the academic year.
Beyond student lets, one- and two-bedroom apartments in the city centre are especially sought-after by young professionals and couples. Meanwhile, families tend to favour houses in areas like Dunmore Road, Ferrybank, and Tramore where schools and amenities are close by.
For investors, this means the best returns may come from buy-to-let properties in strategic locations. Property hotspots in Waterford include the city centre, areas around SETU, and established residential zones with strong public transport links.
Rental Yields in Waterford: What Landlords Can Expect
Waterford remains one of Ireland’s most attractive cities for buy-to-let investment, offering strong rental demand and relatively affordable property prices. This combination means gross rental yields here often outperform other parts of the country.
Current Rental Prices in Waterford
As of early 2025, the average monthly rent in Waterford City is around €1,735, with the rest of the county averaging €1,704.
By property type:
Two-bedroom apartments: €1,250–€1,300 per month
Three-bedroom houses: €1,500–€1,700 in high-demand areas (city centre, popular suburbs, near SETU)
These rents are competitive compared to larger cities, while purchase prices remain lower, boosting potential yields.
Example Rental Yield
A well-located two-bed apartment purchased for €220,000 and rented at €1,250 per month (€15,000 annually) would deliver a gross yield of around 6.8%. That’s higher than many Dublin properties (often 4–5%) and close to the national average of roughly 7.5%.
Key Areas for Strong Returns
Rental performance in Waterford varies by location:
City Centre & Quays – Popular with young professionals seeking modern apartments close to shops, restaurants, and transport.
South East Technological University (SETU) Area – Consistent demand for student accommodation and shared houses, often with above-average yields due to house-shares.
Dunmore Road & Ballygunner – Family-friendly suburbs with strong long-term rental appeal thanks to schools, healthcare, and amenities.
Tramore – Coastal lifestyle attracts both year-round tenants and seasonal renters.
Dungarvan – Steady demand from professionals and retirees; good potential for reliable long-term lets.
Near IDA Business Park & industrial zones – Demand from relocating employees and contract workers.
Factors That Influence Yield
Property type – Family homes in suburbs offer stability (5–6% yields), while city apartments and student properties can achieve higher returns.
Condition & energy efficiency – Well-maintained homes with good BER ratings attract quality tenants and can command higher rents.
Tenant profile – Professionals and families often stay longer, while student and short-term lets can yield more but require active management.
Tip for landlords: Waterford’s mix of diverse tenant demand, competitive purchase prices, and strong rent levels makes it one of the most promising Irish cities for rental investment in 2025. Matching the right property type with the right area can maximise both yield and occupancy.
Tips for New Landlords Navigating the Market
If you’re new to the rental game, here are a few landlord tips for making the most of the Waterford property market:
- Set a competitive rent: Research what similar properties are achieving nearby. A realistic price reduces vacancy time and attracts better tenants.
- Choose the right area: Proximity to SETU, the city centre, and major employers is a key factor in demand.
- Consider professional property management: Managing tenants, maintenance, and compliance can be time-consuming. A local letting agent can help maximise your investment while keeping things stress-free.
Whether you go it alone or work with a professional, staying informed and responsive to tenant needs is key to long-term success.
Thinking of investing in Waterford’s rental market?
Get in touch with the team at Smart Move today—we’d be happy to offer advice and support, whether you’re just starting out or looking to grow your portfolio.
