8 cheapest places to live in Lagos.

Lagos?is in the throes of a rapidly surging population – with diverse peoples swarming into the state from every corner of the country – and quite often, undocumented, illegal immigrants from foreign climes find their way into the Center of Excellence with a mission to better their economic stead.

?This influx of migrants is occasioned by the grim state of the constituent economies of the Nigerian federation and if nothing is done about it, we are likely to see a population explosion in the megacity of Lagos and perhaps neighboring states of?Ogun and Oyo.

In Nigeria today, there’s a palpable shortage of housing for the populace and with the increasing population across States reckoned to be highly commercialized like Lagos, the situation is dire as governments appear to be stumped at finding means to address the severe deficit in mass?housing.

Although private?real estate development companies?are springing up almost on daily basis and the real estate industry is one of the most buoyant in all of West Africa, most of the private developers seem quite disinterested in the business of providing low-cost mass housing for the country’s ballooning population.

They largely focus on the upmarket segment of the industry — providing adequate housing options for north of the?middle-class and high-income earners?that constitute a negligible chunk of the country’s general population.?

The remainder of the market — the lower class and the poor — the majority of the country’s population are left at the whims and caprices of landlords that dramatically spike yearly rents out of the blue.

And with Nigeria’s economy not turning for the worse, there’s immense accommodation want and pressure on the lower class and the poor in affording fairly decent housing, especially in cities like?Lagos.

The subsequent paragraphs shed light on areas of Lagos that are affordable to live in, where you wouldn’t have to strain your finances to pay housing rent.

Cheapest places to live in Lagos

The following are 8 cheapest places to live in Lagos in 2022:

1. APAPA

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Apapa is a local government?area in Lagos and is located west of Lagos Island.?

It is renowned for playing host to the country’s first and major seaport called the Apapa Wharf and some container terminals like the Tincan Island Port.?

Apapa is also heavily industrialized with many milling factories and gas storage facilities.

Be prepared to pay between N150,000 and N300,000 per year to rent a home in Apapa. Between N250,000 to N300,000 will buy you a?three-bedroom apartment. While renting a two or one-bedroom apartment for between N200,000 and N150,000

2. AYOBO/IPAJA

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Due to their closeness, these two locations now seem like two peas in a pod. To begin with, Ayobo is a suburban community in Lagos’ Alimosho Local Government Area. Ipaja, meanwhile, is located in Lagos’ western region.

The distance between?Ayobo and Ipaja?is only 12 minutes by car and 41 minutes on foot. The two locations are interconnected.

Those who work in Surulere and around Yaba but cannot afford the expensive rent there make use of this axis as a refuge.

A typical Lagosian must pay N200,000 for a two-bedroom flat and N150,000 for a single room.

Recommend Reading:?Buying an off-plan property?

3. OJO

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In this region, renting a home is affordable. This area may be the most optimal option for individuals on a tight budget as apartments cost between N300,000 and N400,000 for a three-bedroom unit.

While a two-bedroom home costs N200,000. The annual cost of a one-room self-contained apartment is N150,000.

Apartments are inexpensive to rent here. But be prepared to deal with the lack of basic amenities and terrible infrastructure.

4. MUSHIN

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Another local government area in Lagos State is Mushin. For people looking for an inexpensive place to live, this is an ideal location.?

It is regarded as one of Lagos’ most affordable locations to rent a home.

This area may have all of the indicators of a ghetto due to a lack of basic amenities and poor infrastructure. In addition, you may find getting decent accommodation a problem.

Apartments typically cost between N100,000 and N200,000.

5. IKORODU

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Ikorodu?is one of the most affordable areas to reside in Lagos. Due to affordable housing rentals, the area is seeing a huge inflow of people.

Ikorodu is also a good location if you’re looking to invest in land or rent livable space.

Renting a typical two-bedroom apartment in Ikorodu would set you back between N200,000 and N350,000, while N150,000 will get you a one-bedroom apartment.

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6. BADAGRY

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It is a well-known seaside town in addition to being a local government area in Lagos State. The town is inhabited by the Egun people and the area shares a border with?Benin Republic.

The area is known for two things: affordable accommodation and poor infrastructure.

Badagry?is the place to go if you seek inexpensive housing, but you get to trade off good roads.

A typical three-bedroom apartment costs between N350,000 and N280,000. A common type of housing rental in this area is the one-room apartment that goes for N150,000 per annum.

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7. FESTAC TOWN

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FESTAC town?was built in 1977 by the military government of Nigeria of the day with the intent of housing foreign delegates at the festival of arts that took place in Lagos.

The area is comprised of a mixture of middle and low-income earners and rich folk as well. Yearly rent in this area goes for between N200,000 to N350,000 for low-income earners.

8. OGBA

A well-known area of Lagos. It is located 5 kilometers west of Ikeja, the state’s capital and is populated by people of low income.

This location is at the center of the Lagos metropolis and is easy to access. The area is close to the seat of power, hence a lot of civil servants call this area home. A three-bedroom apartment costs N300,000 or more.