Residents across several parts of Lagos have raised alarm over escalating house rents, calling for swift legislative and executive measures to prevent a worsening housing crisis.

In separate interviews, tenants described the rental market as increasingly unaffordable, with many stating that accommodation now consumes a significant portion of their annual earnings.

Households Spending Majority Of Income On Rent

A housing market report released in 2023 indicated that Nigerian households spend between 50 and 70 per cent of their income on rent, far exceeding the globally recommended benchmark of 30 per cent. Analysts described the trend as evidence of deeper structural imbalances in the housing sector.

Rasaq Adebanjo, a resident of Ogba, said landlords frequently impose automatic rent increases after a few years of tenancy.

“House rents in Lagos have become overwhelming. Even when you find something within reach, it often takes almost your entire yearly income,” he said.

Young Workers Struggle With Accommodation

A corps member, Mercy, recounted her experience searching for housing shortly after relocating to Lagos.

She said she was quoted ₦1.5 million for a mini flat in Surulere, a figure she described as shocking given her combined monthly earnings from her national service allowance and workplace stipend.

Similarly, Peter, a recent graduate, said he currently resides in neighbouring Ogun State due to high rents in Lagos, commuting daily at considerable transport cost.

Tenants Face Rising Renewal Rates

Damola Hafiz, a banker working in Obalende, said his landlord increased his rent from ₦800,000 to ₦900,000 within a year for a single room apartment in Ketu.

“When I resisted, I was told to vacate. After searching elsewhere, I realised I had little choice but to negotiate,” he said.

Another resident in Ikeja, Moses, noted that high rents, food prices, and transportation costs have made savings nearly impossible for many salary earners.

Assembly Aspirant Proposes Rent Caps

Speaking on the issue, Lagos State House of Assembly aspirant Ayodele Adio described the situation as a “rent crisis.”

He proposed linking annual rent increases strictly to official inflation data released by the National Bureau of Statistics, arguing that landlords should not raise rents beyond the prevailing inflation rate.

Adio also pledged to introduce legislation that would:

• Cap agency and legal fees at five per cent
• Require a minimum 12-month notice before rent adjustments
• Restrict rent reviews to once every three years

Regulation Of Short-Term Rentals

He further called for tighter oversight of short-term rental platforms such as Airbnb, contending that the growth of short-let apartments has reduced the availability of long-term residential housing.

According to him, while regulatory measures could stabilise the market in the short term, the long-term solution lies in increasing supply.

Call For Expanded Housing Delivery

Adio advocated facilitating or constructing at least 20,000 housing units annually over the next decade to ease pressure on the rental market.

He argued that high land prices, escalating construction costs and expensive financing have limited the private sector’s ability to deliver affordable housing at scale.

“Government must intervene more decisively in housing provision and mortgage reforms to ease the burden on working residents,” he said.

Efforts to obtain official comment from the Lagos State Government were unsuccessful at the time of filing this report.

As rental costs continue to rise, residents warn that without immediate intervention, the Lagos rent crisis could further strain household finances and deepen urban inequality.