FIRST-TIME buyers in Cork now need to earn €92,092 to purchase a home, new research shows.

The sobering statistic shows the price of getting a foot on the property ladder in the Rebel County is significantly higher than the national average.

Cork has the highest income requirement in the south of the country, and is the only county outside of Dublin and its neighbouring commuter belt (Kildare, Meath and Wicklow) to need a salary above €90,000.

Even more worrying, the research from Chill Insurance shows that the median income for Cork is €46,416 – leaving a gap of €45,676 between what a single first-time buyer earns and what they need in order to purchase a house.

The research compared the median first-time buyer home price in each county, using the Residential Property Price Index as published by the Central Statistics Office (CSO), with median local incomes from CSO earnings data.

These figures were then assessed against the standard Central Bank lending rules, under which a buyer can borrow up to 90% of a home’s value and up to four times their gross income.

The picture in Cork is bleak, with a typical first-time buyer home priced at €409,299, the county’s median income estimated at €46,416, but the salary needed to qualify for a mortgage almost double that at €92,092.

Economist Austin Hughes said: ‘The Chill report emphasises the nature of the problem would-be homebuyers face.

Even allowing for ongoing wage growth, in no county is the typical first-time buyer property accessible at present to the median wage-earner, unless they are in a position to get additional financial support from the State and/or their family.

‘With would-be buyers in Cork now needing almost twice the typical wage and those in Dublin needing more than double the average wage, this purchase gap is growing and spreading in a worrisome manner.’

Director of sales and operations at Chill Insurance, Ian O’Reilly, noted: ‘In Cork, a single buyer earning the local median income would still not earn enough to borrow what they need for a typical first home. For many first-time buyers, closing that gap means saving a larger deposit, buying with another person or looking at State supports such as the First Home Scheme or the Local Authority Home Loan.’

The findings come as the latest figures for those in emergency accommodation points to a deepening housing crisis which is being felt across Cork.

Figures released by the Department of Housing last Friday show there were 820 adults in emergency accommodation in Cork in July – an increase of 27% on July 2025 and up 48% on July 2024.

Nationally, more than 17,500 people were living in emergency accommodation in July, including 5,659 children.

The latest report from charity Depaul shows a growing demand for homeless services across Cork city and county.

Its 2025 impact report outlines a year of progress, against a backdrop of rising demand for its support services.

Across its Cork services last year Depaul supported 512 people, and delivered 38 people out of homelessness in the same year. However the charity warns of an ever-growing demand from families and a sharp rise in mental health concerns.

The 512 people supported in Cork included 17 families. More than half – 273 service users in Cork – reported significant mental health support needs.

A total of 6,294 keyworking sessions were delivered by the charity in Cork, out of 75,254 nationally. Depaul recorded 36 incidents of suicidal ideation and 28 incidents of self-harm which its Cork teams responded to.