As rents continue to surge across Lagos, finding a decent two-bedroom apartment without breaking the bank is becoming harder by the day.
Two-bedroom flats remain one of the most sought-after housing options in the city, offering a balance of space, comfort, and affordability for small families, young professionals, and roommates. But with a persistent housing shortage and rising demand, tenants are increasingly forced to look beyond prime locations to stay within budget.
For many Lagosians, affordability now outweighs convenience.
Using data from the Lagos Residential Market Report 2025 by Edala Development, eWeekly presents the Top 10 cheapest areas in Lagos to rent a two-bedroom apartment, ranked by average annual rent.
10. Festac — ₦1.5 million
Festac Town ranks as the 10th cheapest area to rent a two-bedroom apartment in Lagos.
Originally developed for the 1977 Second World African Festival of Arts and Culture (FESTAC ’77), the federal housing estate was designed as a planned community with over 5,000 housing units.
Once strict restrictions on sales and rentals were lifted, Festac evolved into a vibrant rental market. Its organised road network, proximity to the Lagos-Badagry Expressway, and access via the Festac Link Bridge make it attractive to tenants working along Lagos’ western corridor.
9. Ajegunle — ₦1.4 million
Ajegunle ranks ninth, with average rent of ₦1.4 million yearly.
Located in Ajeromi-Ifelodun LGA, near Apapa Wharf and Tin Can Island Port, Ajegunle’s affordability reflects decades of infrastructural challenges, congestion, and social stigma.
However, private investments are slowly reshaping the area, with new residential buildings, hotels, and event centres emerging. Markets like Boundary Market and proximity to Ajeromi General Hospital support daily living, though traffic congestion remains a major concern.
8. Agege — ₦1.2 million
Agege is the eighth cheapest location for a two-bedroom apartment in Lagos.
The area benefits from bustling markets such as Abattoir Meat Market and Alade Market, as well as landmarks like Agege Stadium, Pen Cinema Flyover, and the NYSC Orientation Camp.
The Babatunde Fashola Railway Station, opened in 2021, connects Agege to Ogun and Oyo States, boosting mobility and appeal for commuters.
7. Oshodi — ₦1.1 million
Oshodi ranks seventh, with average rent of ₦1.1 million.
A historic commercial and transport hub, Oshodi has long been central to Lagos’ economy. Markets like Oshodi Market, Arena Market, and Bolade Market drive intense daily trade.
The Oshodi Transport Interchange, featuring multi-storey terminals and surveillance systems, has improved orderliness, though congestion and population pressure remain constant challenges.
6. Mushin — ₦1.1 million
Mushin also averages ₦1.1 million yearly for a two-bedroom apartment.
Established in 1955, the area is a mix of residential zones, markets, workshops, and light industries. Major roads like Agege Motor Road and Ikorodu Road provide connectivity.
Markets such as Ojuwoye and Ladipo attract traders from across Lagos, while schools, hospitals, and clinics support everyday life. Overcrowding and waste management remain key issues.
5. Alimosho — ₦1 million
Alimosho ranks fifth, with average rent of ₦1 million.
As Lagos’ most populous local government, Alimosho spans multiple LCDAs including Egbe-Idimu, Ikotun-Igando, Ayobo-Ipaja, and Agbado-Oke Odo.
Rapid urbanisation, a thriving informal economy, and a growing middle class make it a major residential hub despite traffic congestion and infrastructure strain.
4. Ojo — ₦967,000
Ojo ranks fourth, with average rent below ₦1 million.
Located along the Badagry axis, Ojo is home to Alaba International Market, Iyana-Iba Market, and Lagos State University (LASU).
The Lagos-Badagry Expressway and nearby ferry routes provide access to other parts of Lagos, shaping steady housing demand in the area.
3. Ikorodu — ₦815,000
Ikorodu ranks third, with average annual rent of ₦815,000.
Situated in northeast Lagos, Ikorodu enjoys strong transport links via BRT corridors and multiple jetties connecting to Victoria Island, Ikoyi, and Lekki in under 30 minutes by water.
It hosts LASUSTECH, Caleb University, the Egbin Power Station, and growing industries, making it one of Lagos’ fastest-expanding residential zones.
2. Epe — ₦605,000
Epe ranks second, with average rent of ₦605,000.
Located by the Lekki Lagoon, Epe is known for fishing, farming, and waterways. Markets like Epe Fish Market drive trade, while jetties connect residents to other parts of Lagos.
Its calm environment, beaches, and mangrove forests appeal to renters seeking affordability and lower population density.
1. Badagry — ₦575,000
Badagry is the cheapest place to rent a two-bedroom apartment in Lagos, with an average annual rent of ₦575,000.
A historic coastal town near the Benin Republic border, Badagry’s economy is driven by fishing, trading, and tourism. Inland waterways offer transport alternatives, while the ongoing Sokoto-Badagry Superhighway project is expected to boost connectivity, trade, and long-term property value.
🏁 Final Takeaway
As Lagos rents continue to rise, affordability is pushing tenants farther from traditional hotspots. While cheaper areas often come with trade-offs—longer commutes, congestion, or limited infrastructure—they remain the last refuge for renters seeking space at manageable prices.
For many Lagosians, location is no longer about prestige—it’s about survival.
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