Students will pay on average €680 more to rent a room in Dublin for the forthcoming academic year and €462 more in other parts of the country than they did last year.
That is according to the latest Student Housing Report from the property and rental website, daft.ie.
The study found that rental costs in the capital are up 0.3% on last year while, in the rest of the rest of the country, the increase is a more substantial 2.8%.
The report estimates that across the major cities of Dublin, Cork, Limerick and Galway, there is a need for 50,000 student homes.
The existing capacity of purpose-built student accommodation stands at less than 33,000 units.
The report projects that demand for such units will increase to 64,000 units over the coming decade.
"For students preparing for the 2020/21 academic year, there is little evidence of any Covid-19 effect on rents. Indeed, in most market segments of interest to students, rents may if anything be slightly higher than last year," Ronan Lyons, economist and author of the report said.
"Given large increases in rents in recent years, a year with largely unchanged rents is perhaps not the worst outcome for students," the economist said.
Students attending the five major colleges in Dublin face the highest monthly rents per property ranging from €2,210 for DCU students to €2,756 for students attending Trinity College.
The calculation is based on a rental for a three bedroom house within a two kilometre radius of the college.
Per room, that amounts to almost €750 for a DCU student and €920 for a student going to Trinity.