Lagos is Nigeria’s most bustling rental market, with over 80% of its 22 million residents living in rented homes. On average, people spend more than half their income on housing. Finding a budget-friendly rental can be tricky, but with the right approach, it’s definitely possible.
WHERE TO LIVE MATTERS
In a huge city like Lagos, your location significantly impacts rental costs. Properties closer to the city center tend to be more expensive. For more affordable options, consider the outskirts or less popular areas. Always factor in your commute to work or school to balance cost and convenience.
KNOW YOUR BUDGET
Before you start your search, determine how much you’re willing to spend. Lagos offers homes for all budgets, from luxury apartments to simpler options. If you’re looking to save, explore less expensive areas.
AFFORDABLE AREAS TO EXPLORE
Some of the more budget-friendly areas in Lagos include Agege, Ikorodu, Abule Egba, Ipaja, Ogba, and Oshodi. Average rents for mini-flat apartments in these areas range from N220,000 to N400,000 per annum.
AGEGE
Located in northern Lagos, Agege is a budget-friendly option with a mix of old and new housing. It has plenty of transport links and a relatively low cost of living.
IKORODU
Though on the outskirts, Ikorodu offers lots of affordable rental options and is easily accessible by road and water. With lower living costs and essential amenities nearby, it’s perfect for a quieter lifestyle.
ABULE EGBA
Abule Egba, in Ifako-Ijaiye Local Government Area, has reasonably priced housing and solid transport connections. One-bedroom apartments here can cost between N200,000 to N350,000 per year, depending on location and amenities.
IPAJA
Ipaja is centrally located with excellent transport links to areas like Oshodi and Ikotun, making it convenient for those working in Ikeja. It’s a great choice for budget-conscious renters.