Two-bedroom apartments remain one of the most sought-after rental options in Lagos, offering a practical balance of space, comfort, and affordability. They are especially popular among small families, young professionals, and shared renters navigating the city’s increasingly expensive housing market.
With rents steadily rising across Lagos amid a persistent housing supply gap, affordability has become a critical factor for many residents—often requiring compromises on proximity, infrastructure, or convenience. Eyes Of Lagos reports,
Understanding where value meets accessibility is therefore essential for anyone looking to rent within budget.
This ranking is based on data from The Lagos Residential Market Report, which tracks average rental prices across the state. The list highlights the 10 most affordable areas to rent a two-bedroom apartment in Lagos as of 2026.
10. Festac Town — ₦1.5 Million Per Year
Festac Town ranks as the 10th cheapest area to rent a two-bedroom apartment in Lagos, with an average annual rent of ₦1.5 million.
Located in Amuwo-Odofin Local Government Area, Festac is a federally planned housing estate originally built for the 1977 Second World Black and African Festival of Arts and Culture (FESTAC ’77).
Designed as a structured community with over 5,000 housing units across seven major avenues, the estate benefited from strong government-backed infrastructure. Over time, relaxed ownership restrictions allowed Festac to evolve into an active rental market.
Its organised road network, multiple access routes from the Lagos–Badagry Expressway, and connectivity via the Festac Link Bridge continue to attract tenants working along Lagos’ western corridor.
9. Ajegunle — ₦1.4 Million Per Year
Ajegunle ranks ninth, with average two-bedroom rents at ₦1.4 million annually.
Situated in Ajeromi-Ifelodun Local Government Area, Ajegunle borders Apapa Wharf and Tin Can Island Port, making it strategically located near two of Nigeria’s busiest seaports.
While the area has long struggled with overcrowding, infrastructure deficits, and security concerns, recent years have seen private-sector-led urban renewal, including modern residential buildings, hotels, and event centres.
Markets such as Ajegunle Market, Boundary Market, and the central bus terminal support daily commerce, while proximity to Ajeromi General Hospital and Navy Town adds to its functional appeal. Traffic congestion remains a major challenge.
8. Agege — ₦1.2 Million Per Year
Agege is the eighth cheapest area to rent a two-bedroom apartment in Lagos, with an average rent of ₦1.2 million per year.
The neighbourhood stretches from Dopemu Road to Abeokuta Expressway and is known for its vibrant commercial activity, supported by major markets such as Abattoir Meat Market and Alade Market.
Key landmarks include the NYSC Permanent Orientation Camp, Agege Stadium, and the Pen Cinema Flyover, which has improved traffic flow.
The Babatunde Fashola Railway Station, opened in 2021, connects Agege to Ogun and Oyo States, enhancing regional mobility. Residential estates like Sunshine Estate and New Dairy Farm Housing Estate cater to families and working professionals.
7. Oshodi — ₦1.1 Million Per Year
Oshodi ranks seventh, with average two-bedroom rents of ₦1.1 million annually.
A major commercial and transport hub on the Lagos Mainland, Oshodi’s importance dates back to the early 1900s, when it served as a key colonial trade route.
It is home to Oshodi Market, one of West Africa’s largest, alongside Arena Market and Bolade Market. The area also hosts the Oshodi Transport Interchange, a modern facility linking BRT buses and multiple city routes through three multi-storey terminals equipped with security and passenger amenities.
Bordered by Mushin, Surulere, Somolu, and Alimosho, Oshodi remains a fast-paced urban centre balancing commerce, culture, and infrastructure.
6. Mushin — ₦1.1 Million Per Year
Mushin ranks sixth, with an average annual rent of ₦1.1 million for a two-bedroom apartment.
Established in 1955, Mushin has grown into a vibrant mix of residential and commercial activity. Major roads like Agege Motor Road and Ikorodu Road provide strong connectivity, supported by buses and tricycles.
Markets such as Ojuwoye and Ladipo attract traders from across Lagos, while small-scale manufacturing and workshops sustain the local economy.
Despite challenges like traffic congestion and waste management, Mushin offers schools, healthcare facilities, and recreational spaces that support daily life.
5. Alimosho — ₦1 Million Per Year
Alimosho ranks fifth, with average two-bedroom rents at ₦1 million per year.
It is the most populous local government area in Lagos State, bordering Ifako-Ijaiye, Agege, Ikeja, Kosofe, and Ogun State.
Rapid population growth led to its division into several LCDAs, including Ikotun-Idimu, Ayobo-Ipaja, Egbe-Idimu, and Agbado-Oke Odo.
Driven by urbanisation, a thriving informal economy, and a growing middle class, Alimosho hosts numerous markets, schools, residential estates, and small businesses that contribute significantly to Lagos’ economy.
4. Ojo — ₦967,000 Per Year
Ojo ranks fourth, with an average annual rent of ₦967,000.
Located along the Lagos–Badagry Expressway, Ojo is a major commercial and residential area on the Badagry axis. It hosts Alaba International Market, one of West Africa’s largest electronics markets, as well as Iyana-Iba Market.
The presence of Lagos State University (LASU) boosts rental demand, while ferry services along nearby creeks complement road transport.
3. Ikorodu — ₦815,000 Per Year
Ikorodu ranks third, with average two-bedroom rents of ₦815,000 annually.
Located in north-eastern Lagos, Ikorodu enjoys strong transport links, including BRT corridors to TBS, Ikeja, and Oshodi, and multiple jetties offering water transport to Victoria Island, Ikoyi, and Lekki in under 30 minutes.
The area hosts LASUSTECH and Caleb University, as well as industrial facilities such as the SAGLEV Electromobility Plant and the Egbin Power Station, strengthening its economic profile.
2. Epe — ₦605,000 Per Year
Epe is the second cheapest area, with average annual rents of ₦605,000.
Situated along the Lekki Lagoon, Epe has road links to Ijebu-Ode and Ikorodu and a strong fishing and agricultural economy.
Local markets like Epe Fish Market, Oluwo Market, and Aiyetoro Market support trade, while mangrove forests, beaches, and waterways enhance its natural appeal.
1. Badagry — ₦575,000 Per Year
Badagry is the cheapest area in Lagos State to rent a two-bedroom apartment, with an average annual rent of ₦575,000.
A historic coastal town along Porto Novo Creek, Badagry serves as a transit route to Benin Republic and has an economy driven by fishing, trading, and tourism.
In 2024, the Federal Government commenced construction of the 1,068-kilometre Sokoto–Badagry Superhighway, expected to boost trade, reduce transport costs, and significantly improve connectivity to Lagos.