Cork Chamber Calls for Higher Cost Rental Thresholds in Budget 2027 Following New Survey

Cork Chamber, the voice of business in Cork, has called for a significant expansion of access to Cost Rental housing, including an increase in current income eligibility thresholds in Cork as part of its Budget 2027 priorities. It follows the results of a new survey of Cork Chamber members which highlights the growing impact of housing affordability on recruitment and retention.

Key survey findings include:

• Employers favour increasing household eligibility thresholds, with almost half selecting €75,000 (net) as the most appropriate limit, compared with the current Cork threshold of €59,000 (net).

• 40% of employers believe access to affordable Cost Rental housing would support their organisation's ability to attract and retain employees.

• 35% of employers say current cost rental eligibility rules have limited the ability of their employees to access housing.

• 75% of employers rated the affordability of homes to rent in Cork city as ‘unaffordable’ or ‘somewhat unaffordable’

• Cost Rental is viewed as an important part of the solution, but awareness and understanding remain mixed, 45% of employers were unaware of cost rental. 

• Employers believe a separate income limit per individual would be more appropriate, enabling people to come together to form households and share Cost Rental accommodation.

Survey findings indicate that employers see housing affordability as an increasing workforce challenge, with current Cost Rental income thresholds viewed as too restrictive for many working households. Almost half of respondents identified €75,000 (net) as the most appropriate household income threshold.

Cork Chamber CEO Conor Healy said, “Access to housing has become an increasingly important consideration for Cork employers seeking to attract and retain the workforce they need to grow. This survey provides a clear message from the business community that the current Cost Rental thresholds are not reflecting the realities facing working households in Cork.

“As a Budget 2027 priority, we need to see the Cost Rental income thresholds increased. We are also calling for Cost Rental homes in Cork city to recognise the needs of people working in the city, helping to ensure that affordable rental supply supports the workforce that underpins the city's economy.”

“We also need to look at the wider housing mix. Mixed-tenure development must be at the heart of Cork's housing response. In Cork, Cost Rental is almost exclusively being delivered through brownfield apartment developments in the city, making it a critical policy tool for regenerating urban sites while housing the workforce close to jobs and public transport,” added Mr Healy.

“Cost Rental should not be considered in isolation. We need communities that include Cost Rental, private rental, owner-occupied and other appropriate forms of housing, creating sustainable neighbourhoods close to employment, transport and services. Ultimately, we need to attract private investment into the housing market and reduce the reliance on the government subsided support of the sector.

“The objective must be to create a housing system that works for Cork's workforce across different stages of life and different income levels. That also means recognising that households are changing. Our survey shows support for greater flexibility around individual income thresholds, allowing people to combine incomes and access housing collectively. This could be particularly important for younger workers and new entrants to the workforce, who may be able to afford a home collectively but can be excluded by household-based eligibility criteria. Eligibility rules need to reflect the realities of modern household formation and ensure that Cost Rental is accessible to the workers it is intended to support.

“That means increasing the supply of Cost Rental homes, particularly close to major employment centres, while ensuring that eligibility rules do not inadvertently exclude the very workers the policy is intended to support.

“Cork is Ireland’s fasting growing city and the economic engine of Munster. If we want businesses to continue to invest, grow and create employment here, we must ensure that the people they need can afford to live here too. Housing the workforce must be treated as an essential part of Cork's competitiveness strategy.”