Data shows that over 500,000 people move to lagos yearly seeking for a job opportunity, a place to sojourn or where to make a home for themselves, While there are many houses scattered around on the islands and top notch places, seeking for someone to own or rent them for millions of naira, many are scattered on the street without an idea of where to stay. A chunk of Lagos immigrants will say “Lagos is expensive, we can’t afford the houses”. Read more here.
Due to this unending problem, low income and middle class income earners are seeking affordable alternatives that won’t request for a two year upfront payment, maintenance fee, or agency fee.
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The Struggles of Finding Affordable Rent vin Lagos
The number of problems associated with housing option here in Lagos is quite numerous, but let’s see the major ones :
- Rising housing costs due to economic challenges : The cost of living is skyrocketing each time, even landlords are not joking. Landlords are a part of the pain, but predominantly, agents and maintenance fees also take a deep drag of people’s finance. Getting affordable housing is very important to all classes. It is affordable when you can confidently pay it.
- The impact of proximity to city centers on rent prices : Here in Lagos and in many other states alike, proximity to major structures increases the value of a house or land. For example, getting an apartment close to chevron will cost you more than getting the same apartment type in agage. Proximity to major city centers increases the rent.
- Lack of information on affordable neighborhoods : Getting an apartment in Lagos also hinges on relationships with people. Asking people can expand your understanding of where is affordable and where isn’t.
Top 6 Affordable Locations for Rent in Lagos
- Agege
Agege is an excellent choice for rental accommodation in Lagos. You can easily find traditional and modern residential buildings scattered everywhere. While it is appealing to many due to its appealing population being a pretty good one for traders and business enthusiasts, to others, it is overly crowded.
You will find efficient transportation options and a close one to the Lagos-Abeokuta Expressway.
Agege is known for its affordability. It offers a cost-effective living environment with access to reasonably priced housing and essential amenities, allowing residents to enjoy a comfortable lifestyle. Compared to other areas of Lagos, renting in Agege is particularly budget-friendly.
2. Ikorodu
Ikorodu is a spirited suburb on the outskirts of Lagos. It is also affordable for many interested in affordable rental options. Although far from the city centre, it has an impressive transportation system and infrastructures that make living easier.
As one of Nigeria’s fastest-growing towns, Ikorodu offers a variety of housing choices suitable for individuals, families, and businesses. With a lower cost of living than many neighborhoods in Lagos, Ikorodu is an attractive option for renters looking to reduce their housing expenses.
3. Ikotun/Igando
Ikotun is situated in the Alimosho Local Government Area, Ikotun/Igando is another affordable rental destination in Lagos. Its proximity to key landmarks like the Lagos State University (LASU) and Alimosho General Hospital makes it convenient for students and small families.
The area offers various housing options, from mini-flats to two-bedroom apartments, suitable for those on a tight budget. With various local markets, it provides residents with access to inexpensive groceries and household items. However, challenges such as poor road networks and distance from Lagos’ central areas can affect convenience, particularly during rush hour or the rainy season.
4. Ojo
On Lagos’ outskirts, Ojo combines affordability with a relatively peaceful environment. The area is home to the Lagos State University (LASU), which attracts students and offers cost-effective housing options.
With notable attractions like the famous trade fair complex, Ojo appeals to entrepreneurs and business professionals. Transportation is accessible via bus routes and a ferry terminal, connecting residents to areas like Apapa and Victoria Island.
5. Alagbado
Alagbado is Located in the Ifako-Ijaiye Local Government Area, Alagbado is known for its budget-friendly rental options. The area offers diverse housing types, including apartments and flats, with one-bedroom units typically ranging from ₦100,000 to ₦200,000 per year.
Alagbado’s low cost of living and good connectivity through road networks and public transportation make it an excellent choice for individuals or families seeking affordable accommodations.
6. Egbeda
Egbeda, in the Alimosho Local Government Area, is a rapidly developing neighbourhood close to the Ikeja business district and Lagos State University. This strategic location provides residents with access to job opportunities and quality education.
Renting in Egbeda is affordable, with two-bedroom apartments averaging between ₦300,000 and ₦400,000 per year. The area offers many amenities, including supermarkets, hospitals, restaurants, and efficient transportation links to other parts of Lagos.
Why These Locations in Lagos Are Budget-Friendly
- Distance from Commercial and City Centers
These areas are located on the outskirts or away from Lagos’ center of attractions, where rent and living costs are significantly higher. Even with these, everything required to enjoy your stay can be found in them. Recreation centers, banks, standardized hospitals, religious gatherings, everything.
- Limited High-End Infrastructure
These neighbourhoods often need more luxury amenities and high-end infrastructure found in more central or upscale areas of Lagos. You will rarely find big nation wide companies in these areas. This simplicity lowers the cost of housing and living while offering essential facilities.
- Growing Development Projects
Many of these locations are undergoing development, attracting attention from renters and investors. While still in the growth phase, living and rental prices remain relatively low, making them ideal for those seeking affordability with potential future value.
How to Choose the Right Area for You
When relocating, you must weigh your options carefully to find a location that aligns with your needs and lifestyle. Here are vital factors to consider:
- Proximity to Workplace or School
Choose a neighbourhood that minimizes your daily commute to work or school. This will save you time, reduce transportation costs, and reduce stress, particularly in a bustling city like Lagos.
- Budget Compatibility
Ensure the area fits your budget, considering both rental costs and the overall cost of living. Find neighbourhoods where housing options align with your financial plan and factor in additional expenses such as utilities and transportation.
- Access to Basic Amenities
Evaluate the availability of essential services such as markets, healthcare facilities, schools, and public transportation. A neighbourhood with accessible amenities enhances convenience and supports a comfortable lifestyle.
- Neighborhood Safety and Community
Prioritize areas with a reputation for safety and a sense of community. Research crime rates, talk to residents, or visit the area to understand its environment. A safe and friendly neighbourhood fosters peace of mind and well-being.
By assessing these factors, you can make an informed decision and select a location that supports your personal and professional goals while offering a high quality of life.
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