How Much Is Rent in Lagos? Area-by-Area Price Guide (2026)

This is the most comprehensive, up-to-date guide to Lagos rent prices. We break down costs across 20+ neighbourhoods, cover every fee you'll actually pay, and show you exactly how to reduce your housing costs by 40-60%.

Lagos Rent Prices at a Glance (2026)

Area	Self-Contain	1-Bedroom	2-Bedroom	Shared (per person)
Banana Island	—	₦8M – ₦15M	₦15M – ₦30M	Rare
Ikoyi	₦2M – ₦4M	₦4M – ₦8M	₦6M – ₦15M	₦2M – ₦4M
Victoria Island	₦2M – ₦3.5M	₦3.5M – ₦6M	₦5M – ₦10M	₦1.75M – ₦3M
Lekki Phase 1	₦1.2M – ₦2M	₦2.5M – ₦4M	₦4M – ₦7M	₦1.2M – ₦2M
Lekki Phase 2	₦800K – ₦1.5M	₦1.5M – ₦3M	₦2.5M – ₦5M	₦800K – ₦1.5M
Ikeja GRA	₦800K – ₦1.5M	₦1.5M – ₦3M	₦2.5M – ₦5M	₦750K – ₦1.2M
Ikeja	₦600K – ₦1M	₦1.2M – ₦2.5M	₦2M – ₦4M	₦500K – ₦1M
Gbagada	₦450K – ₦800K	₦900K – ₦1.8M	₦1.5M – ₦3M	₦400K – ₦700K
Maryland	₦500K – ₦900K	₦1M – ₦2M	₦1.8M – ₦3.5M	₦450K – ₦800K
Yaba	₦500K – ₦900K	₦1M – ₦2M	₦1.8M – ₦3.5M	₦400K – ₦750K
Surulere	₦400K – ₦700K	₦800K – ₦1.5M	₦1.2M – ₦2.5M	₦350K – ₦600K
Magodo	₦600K – ₦1M	₦1.2M – ₦2M	₦2M – ₦3.5M	₦500K – ₦900K
Omole Phase 1	₦500K – ₦900K	₦1M – ₦1.8M	₦1.5M – ₦3M	₦450K – ₦750K
Ajah	₦300K – ₦600K	₦600K – ₦1.2M	₦1M – ₦2M	₦250K – ₦500K
Sangotedo	₦250K – ₦500K	₦500K – ₦1M	₦800K – ₦1.8M	₦200K – ₦400K
Ogba	₦350K – ₦600K	₦700K – ₦1.2M	₦1M – ₦2M	₦300K – ₦500K
Ojodu Berger	₦300K – ₦550K	₦600K – ₦1.2M	₦1M – ₦2M	₦300K – ₦500K
Ikorodu	₦200K – ₦400K	₦400K – ₦800K	₦700K – ₦1.5M	₦150K – ₦300K
Agege	₦200K – ₦350K	₦400K – ₦700K	₦600K – ₦1.2M	₦150K – ₦250K

All figures are annual rent in Nigerian Naira (₦). Prices reflect 2026 market rates and vary by specific estate, building condition, and amenities.

The Full Cost of Renting (It's Not Just Rent)

The number on the listing is never the final number. Here's everything you'll actually pay:

Before You Move In

Fee	Typical Amount	Who Charges It
Annual rent	Varies by area	Landlord
Security/caution deposit	1-3 months' rent	Landlord
Agency fee	5-10% of annual rent	Agent
Legal/agreement fee	₦50K – ₦150K	Landlord's lawyer
Service charge	₦100K – ₦500K/year	Estate management

Example: A ₦2M apartment in Lekki with a 10% agency fee, 2-month caution, and ₦200K service charge costs ₦2.93M upfront — nearly 50% more than the listed rent.

On Mushrooms, there are no agency fees (free to list), no legal fees (agreements are auto-generated), and no hidden charges. You see the full cost before committing.

Monthly Running Costs

Item	Monthly Range	Notes
Electricity (prepaid)	₦5K – ₦30K	Depends on AC usage and NEPA availability
Generator diesel	₦10K – ₦50K	The hidden budget-killer in areas with poor power
Water	₦2K – ₦8K	Borehole service or tanker delivery
Internet	₦10K – ₦30K	Starlink ~₦25K; fiber ₦10K-₦20K; mobile hotspot ₦5K-₦15K
Waste disposal	₦1.5K – ₦4K	LAWMA or estate collection
Security levy	₦2K – ₦10K	Estate or compound security

The generator trap: In areas with 6-10 hours of NEPA (common on the mainland), diesel can cost ₦30K-₦50K/month — more than some people's rent share. Always ask about power supply before renting.

How to Pay Less for Better Housing

1. Split with a Flatmate

The most effective strategy. Every rent figure in the table above drops by 40-60% when shared:

Scenario	Solo	2 People	3 People	Savings
₦2.5M Yaba 2-bed	₦2.5M	₦1.25M each	—	50%
₦4M Lekki 3-bed	₦4M	₦2M each	₦1.33M each	67%
₦1.5M Surulere 2-bed	₦1.5M	₦750K each	—	50%

Mushrooms matches you with compatible flatmates scored on 7 factors — so you don't just save money, you live with someone who actually fits your lifestyle.

2. Negotiate

Most listed rents have 5-15% negotiation room, especially if:

• The apartment has been vacant for 2+ months
• You're willing to pay the full year upfront
• You're an early tenant in a new development
• You're renewing (existing tenants have leverage)

3. Choose Area by Commute, Not Prestige

A ₦500K apartment in Yaba with a 20-minute commute to your VI office is better value than a ₦1.5M apartment in Lekki with a 1-hour commute — when you factor in daily transport, fuel, and time lost.

4. Avoid Agent Fees Entirely

Traditional agents charge 5-10% of annual rent — ₦100K to ₦500K just for showing you apartments. On platforms like Mushrooms, hosts list directly. No agent, no fee.

5. Check Meter Debt Before Paying

Inherited electricity meter debt is a common hidden cost. Some tenants inherit ₦50K-₦200K in outstanding bills. On Mushrooms, meter debt is checked before a listing goes live.

Rent Trends: What's Changing in 2026

• Lekki corridor continues expanding. Ajah, Sangotedo, and Awoyaya are seeing rapid development. Prices are rising 10-15% year-on-year as infrastructure improves.
• Mainland is holding steady. Yaba, Surulere, and Ikeja prices have been relatively stable — 5-8% increase, mostly driven by inflation.
• Service charges are increasing. Estate management fees have jumped 20-30% across Lagos due to diesel and security costs.
• Shared apartments are growing. More landlords are listing individual rooms rather than requiring one tenant for the whole flat. Platforms like Mushrooms support per-room booking natively.
• Remote work is shifting demand. Areas with reliable internet (Yaba, Lekki Phase 1, Ikeja GRA) command premium over areas with similar rents but worse connectivity.

The Bottom Line

Lagos rent varies enormously by area — from ₦200K/year in Agege to ₦15M+ in Ikoyi. The real cost is always higher than the listed rent once you add deposits, agency fees, service charges, and running costs. The most effective way to save is to share with a verified flatmate and avoid agent fees entirely.

Browse current listings with verified prices on Mushrooms, or find a flatmate to split rent across any Lagos neighbourhood.