Apartment for Rent in Lagos Island – How Much You Should Expect To Pay

Lagos, one of the fastest growing cities in Africa is made up of 2 major areas; Lagos Island and Lagos Mainland. Lagos Island, also known as Isale Eko happens to be the principal local government of Lagos State. It has a lot of history, dating as far back as the 1800’s with Brazilian, Portugese and English influences. It is believed that before the colonial era, Lagos Island had ties with the Benin Kingdom.

Many institutions like banks and multinational companies have their headquarters in Lagos Island. It has a number of markets like Balogun, Apongbon, Idumota and Ebute Ero which are patronised by all. Lagos Islanders keep their culture alive with the Eyo and Fanti festival. The palace of the Oba of Lagos is also located here.

Lagos Island is linked to neighbouring areas like Ikoyi, Victoria Island, Lekki, Ajah and Epe. Every big thing associated with a city is available on the island, from fun hang out spots to bubbling economic activities of small, medium and large companies. As much as this part of Lagos is business oriented, there still happens to be quite a number of residential accommodations within. Prices for renting apartments in Lagos Island vary from area to area; we’ve highlighted prices for economical, standard and luxurious apartments available in Lagos Island below.

Economical Apartments

These are the places with the cheapest rent in Lagos Island. In this category, apartments from a 1 to 3 bedroom have an annual rent of between N100, 000 – N450, 000.

 1 Bedroom Apartment:

For a 1 bedroom apartment, prices goes from N100, 000 – N250, 000 per annum, not all apartments have water running from the taps, roads are accessible and there’s electricity supply. Parking space isn’t guaranteed as you might have to park on the street sometimes. The areas on the island for this category are: Obalende, Adeniji, Idumota, Okesuna, Campos, Igbosere amongst others.

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2 Bedroom Apartments

Expect to spend anything between N150, 000 – N300, 000 per annum. These apartments come with good water supply, electricity, kitchen, one toilet/bathroom, accessible roads, parking spaces are limited. The areas in Lagos Island where you can get these economical 2 bedroom apartments are: Okepopo, Glover, Tokunboh, Obalende, Adeniji, Campos, Olowogbowo amongst others.

3 Bedroom Apartments

For an economical 3 bedroom apartment in Lagos Island, rent ranges from N200, 000 – N350, 000 per annum. Amenities include a parking space, accessible roads, water supply, and electricity. The areas to look at are: Iduganran, Obalende, Adeniji, Olowu, Tokunboh,  Igbosere, Idumota, Bamgbose, TBS amongst others.

Standard Apartments

Standard apartments in Lagos Island come with slightly better amenities. Apartments range from N300, 000 – N650, 000. Areas you’ll find these apartments in Lagos Island include: Obalende, Onikan, Igbosere, Lafiaji to name a few.

 1 Bedroom Apartment

A standard 1 bedroom apartment starts at N300, 000 and goes up to N450, 000 per annum. They usually come with parking spaces, accessible roads, water supply, and electricity.

 2 Bedroom Apartments

With N400, 000 – N500, 000 per annum, you can get a decent 2 bedroom apartment in Lagos Island. It usually comes with en-suite rooms, water supply, good roads, visitor’s toilet and at least one parking space. Areas these apartments are located are; Onikan, Olowu, Obalende, Lewis Street, Simpson Street, Adeniji Adele amongst others.

3 Bedroom Apartments

3 bedroom apartments in Lagos Island starts at N500, 000 – N650, 000 per annum, they come with parking spaces, good water supply, electricity, tiled floors, interlocking compound, en-suite rooms, fitted kitchen. Areas located are: Onikan, Adeniji, Upper Stratchan, Campos, Glover Street, Berkeley Street.

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 Luxury apartments

These apartments are the most comfortable you will find in Lagos Island. Rent range is from N600, 000 – N1, 000, 000 per annum. Apartments have good water supply, accessible roads, fitted kitchen cabinets, electricity, and pre paid metre per apartment amongst others.

 1 Bedroom Apartment

For a luxury 1 bedroom apartment in Lagos Island, expect to pay rent of about N600, 000 – N800, 000 per annum. Amenities like parking spaces, security (OPC or Neighbourhood watch), water supply, electricity, good roads and visitor’s toilet. Areas include: Onikan, King George V road amongst others.

2 Bedroom Apartments

Rent for a 2 bedroom starts from N650, 000 – N750, 000, apartments come with parking spaces, good water supply, electricity, tiled floors, visitor’s toilet, fitted kitchen, balcony. Areas include: Onikan, King George V road, Simpson Street.

 3 Bedroom Apartments

3 bedroom luxury apartments start from N800, 000 – N900, 000 per annum, they come with parking spaces, en-suite rooms, fitted kitchen, good water supply, electricity, good roads, visitor’s toilet, balcony. You might find some apartments in this range to be fully serviced; therefore an additional service fee will be charged.  Areas to find these 3 bedroom luxury apartments include: Onikan, King George V, Joeseph Harden Street, to name a few.



Abd'kareem Oladipo

"Seize the day, never trust in the promise of tomorrow" - a wise person

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