The latest report from property website Daft.ie shows rents fell by just 0.5% last year, compared with a 15% drop in 2009.
The average rent here is now €830 a month.
Rents actually rose by 2% in some parts of Dublin last year, while rates stayed the same in Cork and Waterford.
Outside of the main cities, rents fell by an average of 2% to 3%.
The report said the stabilisation in rents signals that the wider housing market is also beginning to stabilise.