Several suburbs including and are emerging as affordable housing destinations as rising rents continue to push many residents away from central districts in Lagos.
A report by , a data-driven real estate market intelligence platform, revealed that many tenants are increasingly relocating to suburban communities where rental costs remain relatively lower compared to high-end neighbourhoods.
Rising Rent Forcing Residents Out of City Centres
The rental market in Lagos has seen significant increases in recent years, creating financial pressure for many residents who depend on rented accommodation.
As rents continue to surge in major commercial districts, many tenants are moving farther from city centres in search of affordable homes, particularly in communities located on the outskirts of the city.
The report noted that affordability in these locations assumes renters can commit 15 to 20 percent of their annual income to housing, with average monthly earnings ranging between ₦67,000 and ₦356,000 depending on occupation.
Lagos Suburbs With Relatively Affordable Rent
Estate Intel identified several areas where housing remains comparatively affordable. These include:
- Ikorodu
- Ojo
- Agege
- Alagbado
- Ijaiye
- Ikotun
- Abule Egba
- Lakowe
- Epe
Other neighbourhoods offering affordable rental options include Ojodu Berger, Bariga, Isolo, Oyingbo, Egbeda, and Oshodi.
Huge Rent Gap Between Suburbs and Prime Districts
The rental prices in these areas contrast sharply with high-end neighbourhoods such as , , and , where rents for a two-bedroom apartment can reach about ₦530,000 per month, translating to roughly ₦6.4 million annually.
In comparison, renters can still find a two-bedroom apartment in Ojo for between ₦400,000 and ₦500,000 per year, while a one-room self-contained apartment in Ikotun may cost between ₦250,000 and ₦350,000 annually, depending on the property condition and available facilities.
Demand for Affordable Housing Rising
Analysts say the migration toward suburban communities reflects growing affordability challenges within Lagos’ housing market.
As property prices and living costs continue to increase in commercial districts such as , more residents are expected to seek accommodation in developing suburbs where housing remains relatively affordable.
Real estate experts also predict that demand for affordable housing in Lagos outskirts will continue to rise as urban expansion spreads development beyond the city centre.
