In this post, we will be discussing the average cost of house rents in Lagos, Nigeria.
Lagos is the most populous cities in Nigeria and one of top two in Africa behind Cairo.
This article will focus on the average cost of house rents in Lagos for different types of apartments.
Lagos is the commercial capital of Nigeria and most Nigerians and people from other parts of Africa and globe go to Lagos in search of greener pastures.
It is nothing new that Lagos is one of the over populated cities in the world.
The above condition has contributed in no small measure to high cost of house rents in Lagos.
The accommodation and houses in Lagos are by far less enough to cater for teeming population of the city which continues to grow on daily basis.
Some of the available houses in Lagos are up for highest bidders.
This also another good reason why cohabitation and cluster living is very high in Lagos, Nigeria.
Nevertheless, despite the high cost of house rents in Lagos, there are still places affordable for low and mid level income earners.
In this write up, we’ll bring to our readers the average cost renting apartments in Lagos, Nigeria.
How Much is Cost of Rent in Lagos, Nigeria
The cost of rent in Lagos is determined by certain factors which are very similar in all cities.
Some of the factors that play on the cost pf house rent in Lagos are as follows.
Location / District
Lagos is divided into two main districts, Lagos Mainland and Lagos Island.
Lagos Island is considered area dominated mainly by rich and affluent.
Hence the cost of house rent in Lagos Island is very expensive when compared to Lagos Mainland.
Nevertheless, there are still certain areas of Lagos Mainland where house rent is very high and expensive like Magodo, Ikeja.
Type of Apartment
Type of apartment also determines the price of house rent in Lagos.
Apartments like 3 bedroom, 2 bedroom, one bedroom and self contain apartments all shares different cost of rent in Lagos.
Also is the rent of duplex or bungalow in Lagos.
However, for the purpose of this work, we will only discuss the cost of 3 bedroom, 2 bedroom, one bedroom and self contain apartments in Lagos.
Also, another factor that determines house rent cost in Lagos is the facilities available for house users.
Houses or apartments with adequate basic facilities are always higher in cost of rents.
Average Cost of House Rent in Lagos
Below is the average cost of house rent in Lagos Nigeria.
There might be slight disparity, however with this budget you will be working in right direction with Lagos house rent cost.
Cost of Renting 3 Bedroom Flat in Lagos
The average cost of renting 3 bedroom apartments in Lagos varies.
Cost of renting 3 bedroom apartments in Lagos Island is between N800,000 to N1.1 million per annum.
The cost of renting 3 bedroom apartments /flat in Lagos Mainland is between N650,000 to N950,000 per annum
Cost of Renting 2 Bedroom Apartment/Flat in Lagos
Renting 2 bedroom apartment in Lagos Island goes between N600,000 to N900,000 per year while in Lagos Mainland, 2 bedroom flat can be gotten for this price range N500,000 to N800,000 per year.
Cost of Renting One Bedroom Apartment / Flat in Lagos
The cost of renting one bedroom apartment in Lagos Island is around N500,000 per year while cost of renting one bedroom apartment in Lagos Mainland is around N400,000 yearly.
This is the cost of renting a room and parlor in Lagos, Nigeria
Cost of Renting Self Contain Rooms / Apartments in Lagos
This type of apartment is very popular among singles in Lagos.
The cost of renting self contain room in Lagos Island is around N300,000 to N400,000 per year while the cost of renting self contain apartments in Lagos Mainland is between N200,000 to N300,000 per year.
Nevertheless, one can find a good and affordable self contained room in Lagos at cost of around N150,000 in Lagos main land.
Cost of Renting Single Room in Lagos
Single rooms are much more predominant in Lagos Mainland.
However, not all parts of Lagos Mainland can one find single rooms.
The cost of renting single room in Lagos is between N60,000 to N80,000 per year.