Donegal Ranks as Ireland’s Most Affordable County for First-Time Buyers

URGENT UPDATE: Donegal has emerged as one of the most affordable counties in Ireland for first-time homebuyers, according to new research from Chill Insurance. As of August 24, 2025, a single applicant now needs just under €50,000 in income to qualify for a mortgage, significantly lower than the requirements in cities like Dublin and Wicklow.

The analysis reveals that prospective buyers in Donegal must earn €49,275 to meet Central Bank mortgage standards. This figure is strikingly close to the county’s median income of €35,010, leaving a shortfall of €14,265 for many potential buyers. Notably, while no county in Ireland is fully affordable for a single buyer earning the national median salary of €43,221, Donegal ranks as one of the most accessible options.

In recent months, the median price for a first-time buyer home in Donegal has stabilized at €219,000. This makes it one of the cheapest places to step onto the property ladder in Ireland, offering hope to many who find themselves priced out of more expensive markets.

The findings from Chill Insurance analyzed median home prices alongside local incomes, applying Central Bank limits of 90% loan-to-value and a maximum loan of four times gross income. This comprehensive study underscores the challenges many face in the current housing market, where affordability remains a pressing issue.

As the housing landscape continues to evolve, prospective buyers are urged to consider Donegal as a viable option. The affordability crisis in cities like Dublin highlights the importance of regions like Donegal, where opportunities still exist for homeownership.

Stay tuned for further updates on housing trends and market shifts, as they are crucial for first-time buyers navigating this challenging environment.