Cost of Renting a One-bedroom Apartment in Lagos
Lagos, Nigeria’s commercial hub, is one of the most expensive cities to live in, especially when it comes to housing.
Whether you’re a young professional, a student, or someone relocating to the city, understanding the cost of renting a one-bedroom apartment in Lagos is crucial for proper budgeting.
This guide breaks down the cost of renting in different parts of Lagos, the factors influencing rental prices, hidden costs, and tips for finding an affordable apartment.
Key Factors That Affect Rent Prices in Lagos
The cost of renting a one-bedroom apartment varies significantly based on several factors, including:
1. Location (Mainland vs. Island)
Lagos is divided into two major parts: the Mainland and the Island. Generally, apartments on the Island are more expensive due to their proximity to business districts, better infrastructure, and high-end living standards. The Mainland, however, offers more affordable options, though some areas are still costly.
2. Proximity to Business Districts and Transportation Hubs
Areas close to commercial centers like Victoria Island, Ikoyi, and Lekki tend to have higher rent due to the high demand from professionals and expatriates. Easy access to transport hubs like BRT stations, ferry terminals, and major roads also impacts rent prices.
3. Availability of Amenities
A one-bedroom apartment in an estate with 24/7 power supply, security, and modern facilities will cost significantly more than one in an area with unreliable infrastructure. Many high-end apartments come with service charges for amenities like water, waste disposal, and security.
4. Type of Apartment
- Self-Contained Apartments – These are one-bedroom spaces with a private kitchen and bathroom, often found in affordable locations.
- Serviced Apartments – These offer additional amenities such as security, cleaning services, and backup electricity, making them more expensive.
- Standard One-Bedroom Flats – These are common in most parts of Lagos and vary in price depending on location and condition.
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Average Cost of Renting a One-Bedroom Apartment in Lagos (2025)
1. Lagos Island Areas (High-End and Expensive)
If you’re looking for an apartment on the Island, expect premium prices, especially in prime locations:
- Ikoyi – ₦3 million – ₦7 million per year
- Victoria Island – ₦2.5 million – ₦5 million per year
- Lekki Phase 1 – ₦2 million – ₦4 million per year
- Banana Island – ₦6 million – ₦15 million per year (Luxury apartments)
2. Lagos Mainland Areas (Moderately Expensive to Affordable)
The Mainland offers a mix of high-end and budget-friendly rental options:
- Ikeja (GRA & Maryland) – ₦1.5 million – ₦3 million per year
- Yaba – ₦1 million – ₦2.5 million per year
- Surulere – ₦800,000 – ₦2 million per year
- Ojodu Berger – ₦700,000 – ₦1.8 million per year
3. Outskirts and Affordable Areas
If you’re on a tight budget, consider renting on the outskirts of Lagos. These areas offer cheaper rent but may have longer commuting times:
- Ajah – ₦600,000 – ₦1.5 million per year
- Ikorodu – ₦300,000 – ₦800,000 per year
- Badagry – ₦250,000 – ₦600,000 per year
- Mowe/Ibafo (Ogun State Border) – ₦200,000 – ₦500,000 per year
Hidden Costs to Consider
Renting in Lagos goes beyond just the listed price of an apartment. There are additional costs to budget for, including:
1. Service Charges and Estate Fees
If you’re renting in a serviced estate, you may have to pay yearly or monthly service fees for security, waste disposal, power supply, and cleaning of common areas. These can range from ₦100,000 to ₦1 million annually.
2. Agency and Legal Fees
Most landlords in Lagos require tenants to pay agency and legal fees, which can amount to an additional 10-20% of the rent.
3. Cost of Furnishing
Many apartments in Lagos come unfurnished. If you’re moving into an empty apartment, budget for essentials like a bed, kitchen appliances, and furniture.
4. Power Supply Alternatives
Due to unreliable electricity, many tenants invest in generators, inverters, or solar systems. These additional costs can add up over time.
Tips for Finding Affordable One-Bedroom Apartments in Lagos
1. Use Online Property Platforms
Websites like PropertyPro, Nigeria Property Centre, and Jiji can help you find listings that match your budget.
2. Work With Trusted Agents
Avoid scammers by dealing with verified real estate agents or going through reputable agencies. Always inspect the apartment before making any payments.
3. Consider Cheaper Alternatives
If high-end locations are too expensive, explore emerging areas like Epe, Sangotedo, or Mowe for more affordable housing.
4. Rent at the Right Time
Landlords may be more open to negotiations during the end or start of the year when demand is lower.
5. Negotiate Rent Prices
Don’t hesitate to bargain with landlords for better deals, especially if you’re paying multiple years upfront.
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Conclusion
The cost of renting a one-bedroom apartment in Lagos depends largely on location, amenities, and the type of apartment.
While high-end areas like Ikoyi and Lekki demand millions in rent, more affordable options exist in areas like Ajah, Ikorodu, and Badagry.
Before renting, factor in hidden costs like service charges, agency fees, and power alternatives. To find the best deals, use trusted property platforms, work with reliable agents, and negotiate where possible.
By planning, you can secure a comfortable and budget-friendly one-bedroom apartment in Lagos that meets your needs.