The rent for an apartment in Lagos is about ₦1 million a year in Ikorodu, ₦3.5 million in Ajah, and ₦6.5 million in Ikeja. The same size of apartment that costs ₦1 million to rent in Ikorodu can cost more than double in Lekki Phase 1. Truly, Lagos rental prices vary.
If you’ve ever tried to rent an apartment in Lagos, you’d understand it’s not a walk in the park. From the landlord’s wahala to agents showing you houses they can’t even live in while extorting agency fees, you’ll see premium shege if you don’t have a guide that breaks down what to expect so you are not working blindly.
This guide compares Lagos rental prices across 23 areas. We have separate figures for self-contained rooms, mini-flats, two-bedroom flats, three-bedroom flats, bungalows, and duplexes. It also examines cheaper locations, additional rental charges, and tenants’ complaints. Whether you are comparing your existing rent or researching another area, the tables provide a starting point for understanding the market.
Table of Contents
Key Takeaways
- Lagos holds 9 of Nigeria’s top 20 wealthiest neighborhoods, more than any other state.
- Ikorodu and Ipaja have the lowest amount for a two-bedroom house among the areas compared.
- The average annual rent for a two-bedroom flat is ₦3.5 million in Ajah and Sangotedo, compared with ₦11 million in Ikate.
- In Ikeja, the average annual rent is ₦1.5 million for a self-contained room and ₦3.5 million for a mini-flat.
- Three-bedroom flats cost an average of ₦500,000 more per year than two-bedroom flats in Ojodu. In Ikeja, the difference is ₦8.5 million.
- Agency fee, agreement, and caution fees can increase the rent by up to 31.6%.
Lagos Rental Prices by Area: How Much Do Flats and Houses Cost?
For this, we divided the apartment tables into self-contained, two-bedroom, and three-bedroom so you can see each clearly. These are the rents; no additional charges are included.
How Much Is a Self-Contained Room or Mini-Flat in Lagos?
Use the table below to see the rent of a self-contained room in different areas in Lagos.
| Area | Self-contained average rent/year | Mini-flat average rent/year |
|---|---|---|
| Ikorodu | ₦350,000 | ₦700,000 |
| Ajah | ₦1.1 million | ₦2 million |
| Yaba | ₦1.3 million | ₦2.5 million |
| Ikeja | ₦1.5 million | ₦3.5 million |
As you can see, the mini-flat average rent in Ikorodu is twice that of the self-contained. In Ikeja, the difference between the categories is ₦2 million a year.
Read more: How Much Is a Plot of Land in Nigeria? State-by-State Price Index [2026]
How Much Is a Two-Bedroom Flat in Lagos?
The table below shows the rent of two-bedroom flats in different areas in Lagos.
| Area | Average rent/year |
|---|---|
| Ikorodu | ₦1 million |
| Ipaja | ₦1.7 million |
| Agege | ₦2.5 million |
| Alimosho | ₦2.5 million |
| Isolo | ₦3 million |
| Ojodu | ₦3 million |
| Ogba | ₦3 million |
| Ajah | ₦3.5 million |
| Sangotedo | ₦3.5 million |
| Ketu | ₦3.5 million |
| Yaba | ₦4 million |
| Shomolu | ₦4 million |
| Ogudu | ₦4 million |
| Gbagada | ₦4.5 million |
| Surulere | ₦4.8 million |
| Magodo | ₦5 million |
| Maryland | ₦6 million |
| Ikeja | ₦6.5 million |
| Osapa | ₦7 million |
| Ikate | ₦11 million |
| Lekki Phase 1 | ₦16 million |
| Victoria Island | ₦22 million |
| Ikoyi | ₦30 million |
The Mainland does not have one uniform price level. Two-bedroom averages range from ₦1.7 million in Ipaja to ₦4 million in Yaba, ₦4.8 million in Surulere and ₦6.5 million in Ikeja.
There are equally large differences between Ajah, Lekki Phase 1, Victoria Island, and Ikoyi. Ajah’s average is lower than Lekki Phase 1, while Victoria Island’s average is lower than Ikoyi’s.
Our Ajah location guide provides further context for that part of Lagos.
How Much Is a Three-Bedroom Flat in Lagos?
Three-bedroom flats average ₦2 million a year in Ikorodu, ₦5 million in Ajah, and ₦18 million in Lekki Phase 1. The table covers nine areas across Lagos.
| Area | Average asking rent/year |
|---|---|
| Ikorodu | ₦2 million |
| Isolo | ₦3.5 million |
| Ojodu | ₦3.5 million |
| Ajah | ₦5 million |
| Yaba | ₦6 million |
| Surulere | ₦7 million |
| Gbagada | ₦7 million |
| Ikeja | ₦15 million |
| Lekki Phase 1 | ₦18 million |
Surulere and Gbagada have the same three-bedroom average, despite having different two-bedroom averages. In Lekki Phase 1, the difference between the two-bedroom and three-bedroom averages is ₦2 million a year.
These differences reflect separate groups of apartments, including buildings with different conditions, furnishing, and services. They are not fixed charges for an additional bedroom.
How Much Does It Cost to Rent a Bungalow or Duplex in Lagos?
The house quotations below include three-bedroom bungalows in Ikorodu and four-bedroom duplexes in Ajah and Ikeja. They are individual asking rents, not averages for those neighbourhoods.
| Area | Property type | Bedrooms | Asking rent/year |
|---|---|---|---|
| Igbogbo, Ikorodu | Bungalow | 3 | ₦1 million |
| Oke-Ota, Ikorodu | Detached bungalow | 3 | ₦1.5 million |
| Ebute, Ikorodu | Terraced duplex | 3 | ₦3.2 million |
| General Paint, Ajah | Terraced duplex | 4 | ₦8 million |
| Thomas Estate, Ajah | Detached duplex | 4 | ₦9 million |
| Adeniyi Jones, Ikeja | Semi-detached duplex | 4 | ₦16.5 million |
| Opebi, Ikeja | Furnished terraced duplex | 4 | ₦20 million |
| Ikeja GRA | Detached duplex | 4 | ₦45 million |
Which Areas Have the Cheapest Rent in Lagos?
Ikorodu, Ipaja, Agege, and Alimosho have the lowest two-bedroom rents among the 23 areas covered. Their average annual rents are ₦1 million, ₦1.7 million, ₦2.5 million, and ₦2.5 million, respectively.
The difference between Ikorodu and Agege is ₦1.5 million a year. Isolo, Ojodu, and Ogba follow at ₦3 million, placing them below the rents for Yaba, Gbagada, Surulere, and Ikeja.
These apply to two-bedroom flats. For smaller accommodation, Ikorodu also has the lowest self-contained and mini-flat averages among the four areas covered in that table.
What Fees Do You Pay Besides Rent in Lagos?
The total rental package can include agency fees, agreement fees, a caution deposit, and service charges. Amounts vary by property, so the same annual rent can result in different total payments.
These are the fees you pay besides rent.
Agency and Agreement Fees
Agency fees cover the agent’s service, while agreement fees relate to the tenancy documentation. Rental quotations may state these as fixed amounts or percentages.
For example, a two-bedroom quotation in Abijo combines ₦1.9 million annual rent, ₦200,000 agency fees, ₦200,000 agreement fees, and a ₦200,000 caution deposit. The total is ₦2.5 million, approximately 31.6% above the annual rent.
Caution Deposits
A caution deposit is separate from rent and agency fees. Its deduction and refund conditions depend on the written terms attached to the payment.
Although a refundable deposit forms part of the initial rental payment, it differs from a non-refundable fee. That distinction affects how much of the total payment may eventually be returned.
Service Charges and Estate Payments
Service charges can cover shared services such as security, cleaning, water pumping, and maintenance of common areas. The services included, payment period, and separately billed items vary by property.
Estate dues may also be a separate payment. Electricity, generator fuel, and water costs are not automatically included simply because a property has a service charge.
Read more: Lagos Property Prices: What It Costs to Buy a House or Land
Can You Pay Rent Monthly in Lagos?
Monthly rental options exist in Lagos. RentSmallsmall, for example, has a monthly payment option. Shared apartments, like studio houses, may also accept a monthly fee. If you want to live in a more local area with fewer basic amenities, then there are houses where you pay a monthly rent.
What Do Tenants Complain About With Lagos Rental Prices?
Most complaints about Lagos rental prices include high additional charges, unclear rental packages, and increases at renewal. The examples below show how those costs affect the amount tenants are asked to pay.
High Agency Fees and Additional Charges
Let me give you an example. An Isawo room-and-parlour house (one bedroom) put the annual rent at ₦450,000 and combined agency, service, and agreement charges at ₦300,000. The requested total was ₦750,000, which is approximately 67% above the rent.
An Ijede mini-flat combined ₦250,000 rent, ₦50,000 agreement fees, ₦80,000 agency fees, and ₦50,000 for damages. That totals ₦430,000, or 72% above the rent.
In both cases, additional charges represented a substantial part of the total payment, despite the relatively low annual rents.
Unclear Rental Packages
Some quotations state only the annual rent and disclose additional charges after an enquiry. Others give a total package without identifying the separate payments.
This leaves uncertainty about what the money covers, which payments are refundable and which charges might recur.
Rent Increases at Renewal
Many landlords are in the habit of increasing rent after one year. One tenant at New Oko Oba said that after moving in, his annual rent rose from ₦300,000 to ₦500,000.
How Much Will a 2-bedroom Cost in Lagos in 2027?
The average asking rent for a two-bedroom flat in Lagos rose from ₦2.5 million in 2023 to ₦3.7 million in 2024 and ₦6.6 million in 2025. By August 2026, the amount was ₦9.4 million.
Our projection puts the figure at ₦12.2 million in 2027.
remmeber that these are not the exact rent paid, but the average asking price.
Three Mistakes to Avoid When Comparing Lagos Rental Prices
1. Comparing Different Property Types as Though They Are the Same
A self-contained room, mini-flat, and bedroom in a shared apartment are different accommodation types. Comparing them only by price can make one quotation appear cheaper without accounting for the space and facilities included.
Match the property type and bedroom before comparing rents. For whole houses, also check whether the quotation covers the entire building and whether the compound is shared.
2. Treating Annual Rent as the Total Rental Payment
Agency fees, agreement fees, deposits, and service charges can increase the amount requested substantially. In the Abijo example, the difference is ₦600,000.
Request an itemised breakdown and identify which payments are refundable or recurring. Convert monthly and annual service charges to the same period before comparing them.
3. Treating an Area Average as the Price of Every Home
Use the averages as reference points, then compare similar properties in the specific neighbourhood.
Read more: 20 Wealthiest Real Estate Neighborhoods in Nigeria: The Complete Ranking
Conclusion
Lagos rental prices differ by location and property type. Two-bedroom flat rent range from ₦1 million in Ikorodu to ₦10 million in Ikoyi.
The annual rent is only one part of what you will pay. Additional charges can substantially increase the amount requested, while furnishing, services and accommodation type help you determine if two quotes are comparable.
Compare the same accommodation type and bedroom count before considering the additional charges. A lower asking rent does not necessarily mean a lower total rental payment.
Frequently Asked Questions About Lagos Rental Prices
Is a Mini-Flat the Same as a Self-Contained Room?
A mini-flat has a separate bedroom and parlour. A self-contained room combines more of the living space within one room, with private bathroom, toilet and cooking facilities.
Are Bungalows Cheaper to Rent Than Duplexes in Lagos?
The bungalow quotations in this guide are lower than the duplex quotations shown. However, they cover different properties and locations, so they do not establish that every bungalow is cheaper than every duplex.
Does Annual Rent Include Agency Fees and Service Charges?
The annual rent does not automatically include these charges. The quotation’s payment breakdown establishes which items are included and which are charged separately.
Is a Caution Deposit the Same as an Agency Fee?
No, they are separate payments. An agency fee covers the agent’s service, while a caution deposit has deduction and refund conditions under the rental agreement.
Sources
- fij.ng – Comparing Isawo and Ijede houses
- www.theguardian.com – ousing crises and complaint
- Developer’s product description — monthly-payment
