N300,000 and Up: 6 Lagos Neighbourhoods to Consider If Rent Is Breaking Your Budget
- Lagos can be quite stressful when searching for affordable accommodation in the city
- Some residents in the city, with an estimated population of 21 million, have been complaining about the skyrocketing rent in the state
- However, some locations offer relief for price-sensitive renters, whose budgets are slim and lean
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Pascal Oparada is a journalist with Legit.ng, covering technology, energy, stocks, investment, and the economy for over a decade.
Finding affordable accommodation in Lagos has become increasingly difficult, but renters working with limited budgets may still find better options outside the city's most expensive neighbourhoods.
Ikorodu is emerging as one of the areas where tenants can find relatively cheaper accommodation, with current property listings showing self-contained apartments and mini-flats available at prices below what many renters may encounter in more central parts of Lagos.
Source: UGC
Recent listings show that a self-contained apartment in Ikorodu can be found from around ₦300,000 to ₦400,000 per year, although prices vary considerably depending on the location, building and facilities.
Nigeria Property Centre currently puts the average asking price for self-contained apartments in the area at about ₦400,000 annually.
Mini-flats from about ₦500,000
For tenants who want more space than a single-room self-contained apartment, Ikorodu also has room-and-parlour mini-flats.
Current listings include mini-flats around ₦500,000 to ₦800,000 per year, while the average asking price for mini-flats is around ₦700,000 annually.
Some listings can be cheaper, depending on the particular neighbourhood and condition of the property.
Areas within Ikorodu such as Igbogbo, Gberigbe, Agric, Isawo, Jumofak and Oreyo feature in current rental listings, giving prospective tenants several locations to consider.
What about two-bedroom apartments?
Ikorodu becomes more expensive when tenants move into two-bedroom apartments, but it can still offer options for households looking beyond the smaller units.
Current listings include two-bedroom flats for about ₦700,000 to ₦1.5 million per year, while Nigeria Property Centre's August 2026 market data puts the average price at approximately ₦1.2 million annually.
The same data shows prices ranging from ₦350,000 to ₦3 million, highlighting how widely rents can differ across properties.
Cheap rent does not mean cheap living
For tenants considering Ikorodu, rent should not be the only factor.
The distance from some parts of Ikorodu to workplaces, schools and businesses elsewhere in Lagos can mean higher transportation costs and longer journeys.
A cheaper apartment may therefore make less financial sense if a tenant spends significantly more commuting every day.
Tenants should also remember that the advertised rent may not represent the full amount required before moving in.
Agency, legal, caution and other charges can increase the total upfront cost. One current listing, for example, advertises a ₦700,000 mini-flat but states that additional fees take the total package to ₦1 million.
Is Ikorodu worth considering?
For Lagos residents trying to reduce their housing costs, Ikorodu remains one of the areas worth putting on the list.
Source: Getty Images
A renter with a budget of around ₦300,000 to ₦500,000 may have a better chance of finding a self-contained apartment, while those with ₦500,000 to ₦800,000 could look at mini-flats.
The key is to compare the total move-in cost, neighbourhood, transport expenses, electricity, water and security before making a decision.
With rents continuing to put pressure on household budgets, Ikorodu's relatively lower asking prices could make it an increasingly attractive option for Lagos residents searching for more affordable accommodation.
Deputy gov gives young workers tips on rent
Legit.ng earlier reported on the advice given by Lagos Deputy Governor Obafemi Hamzat to young workers regarding affordable housing options amid rising rent prices.
In a city where the struggle to find budget-friendly accommodation has become a daily challenge, his insights could be crucial for many navigating financial stress as they begin their careers.
Source: Legit.ng
