Rents rose by over 10 per cent across the country in 2017.
New figures from Daft-dot-ie shows that people now pay on average €1,227 every month.
Rents in the capital are €4,500 more a year than they were during the peak of the Celtic Tiger.
Source: Daft Rental Report Q4 2017
The author of the report, Ronan Lyons, says he believes the trend is here to stay.
He said: "Unfortunately the dynamics in the market with very strong demand and very weak supply look set to continue for at least a couple of years.
"I wouldn’t be surprised if we end up with ten years of strong rental growth – in particular in Dublin but not confined to Dublin, across the country."