In this article, Catalystng.com is going to talk about the top 10 cheapest areas in Lagos to rent a two-bedroom apartment.
Two-bedroom apartments continue to rank among the most sought-after rental options in Lagos, valued for offering a practical mix of space, comfort, and relative affordability. They are especially popular among small families, working professionals, and roommates.
With rental prices rising across the state alongside an ongoing housing shortage, affordability has become a key factor for many tenants, even when it means sacrificing certain conveniences.
As a result, knowing where affordability meets accessibility is crucial for anyone trying to successfully navigate Lagos’ competitive rental market.
Below is the list of the cheapest areas in Lagos to rent a two-bedroom apartment, see below;
1. Badagry – N575,000
Badagry is number one on the list of the 10 cheapest areas in Lagos to rent a two-bedroom apartment, with the average annual rent estimated at about ₦575,000.
Located in Badagry Division, the coastal town sits on the north bank of the Porto Novo Creek, an inland waterway that connects Lagos to Porto-Novo in Benin. The town also serves as a major transit route to Porto-Novo.
Badagry’s local economy is largely supported by fishing, trading, and tourism. The town’s rich historical heritage — including its links to the Trans-Atlantic slave trade and early missionary activities — continues to attract tourists. In addition, the inland waterways offer alternative transport options within Lagos and to nearby regions.
In 2024, the Federal Government of Nigeria commenced construction of the 1,068-kilometre Sokoto-Badagry Superhighway as part of the Trade, Transport, and Security Greenfield corridor.
The highway, which cuts across several states and terminates in Lagos, is expected to reduce transportation costs, improve trade activities, and strengthen connectivity across the country.
2. Epe — N605,000
Epe is second on the list of 10 cheapest areas in Lagos to rent a two-bedroom apartment, with the average annual rent estimated at about ₦605,000.
Located on the northern side of Lekki Lagoon, Epe is a town and Local Government Area that maintains road connections to Ijebu-Ode and Ikorodu, offering residents relatively easy access to other parts of Lagos and neighbouring regions.
The area is widely known for its fishing and agricultural economy. Its rivers and lagoons are rich in seafood such as fish, crayfish, periwinkles, and oysters. Several jetties also support inland waterway transportation, linking Epe to other parts of Lagos.
Agricultural activities in the area include the cultivation of plantain, coconut, and other crops, while local markets such as Oluwo Market, Aiyetoro Market, and the Epe Fish Market drive strong commercial activity.
Epe is also known for its natural attractions, including beaches, mangrove forests, and waterways. Notable sites include the Epe Mangrove Forest Reserve and the Epe Museum, both of which showcase the area’s environmental and cultural heritage.
3. Ikorodu — N815,000
Ikorodu is third on the list of 10 cheapest areas in Lagos to rent a two-bedroom apartment with the average annual rent estimated at about ₦815,000. The city is located in the north-eastern part of Lagos and is bordered by the Lagos Lagoon and neighbouring Ogun State.
Ikorodu boasts strong transport connections, including the BRT corridor linking residents to TBS, Ikeja, and Oshodi. Multiple jetties also provide inland waterway transport to Victoria Island, Ikoyi, and Lekki in about 30 minutes or less. The area also serves as a transit route for travellers heading out of Lagos to towns such as Shagamu, Ijebu Ode, and Epe.
The city is home to key tertiary institutions, including Caleb University and Lagos State University of Science and Technology (LASUSTECH).
Ikorodu also supports several industries, including the SAGLEV Electromobility assembly plant. Major infrastructure like the Egbin Power Station further strengthens the area’s economic importance.
The city features a blend of long-established neighbourhoods and fast-growing residential estates, highlighting its expanding role within the Lagos metropolitan area.
4. Ojo — N967,000
Ojo is fourth on the list of 10 cheapest areas in Lagos to rent a two-bedroom apartment, with the average annual rent estimated at about ₦967,000.
The town is a major commercial and residential hub along Lagos’ Badagry axis. It is widely known for key trading centres such as the Alaba International Market and Iyana-Iba Market, which drive significant commercial activity and provide employment opportunities for residents.
Ojo is also home to Lagos State University (LASU) and is strategically located along the Lagos–Badagry Expressway, offering road connectivity to Amuwo-Odofin, Ajeromi-Ifelodun, Alimosho, and Badagry.
In addition to road transport, ferry services operating along nearby creeks help improve movement within the area. Ongoing infrastructure and commercial activities along the expressway corridor also continue to influence real estate demand in the town.
5. Alimosho — N1million
Alimosho is fifth on the list of 10 cheapest areas in Lagos to rent a two-bedroom apartment, with the average annual rent estimated at about ₦1 million.
Alimosho Local Government is the most populous in Lagos State. Located in the northwestern part of Lagos, it shares boundaries with Ifako-Ijaiye to the west, Agege and Ikeja to the south, Kosofe to the east, and Ogun State to the north.
Due to rapid population growth over the years, the area was later subdivided into several Local Council Development Areas (LCDAs), including Agbado-Oke Odo, Egbe-Idimu, Ikotun-Igando, Mosan-Okunola, and Ayobo-Ipaja.
Despite these subdivisions, Alimosho remains a major socio-economic hub, supported by rapid urbanisation, a thriving informal economy, and an expanding middle-class population.
The area hosts numerous markets, small businesses, educational institutions, and residential estates, all of which contribute significantly to the economic and social activities within Lagos State.
6. Mushin — N1.1million
Mushin is the sixth on the list of 10 cheapest areas in Lagos to rent a two-bedroom apartment, with the average annual rent estimated at about ₦1.1 million.
Established in 1955, Mushin has evolved into a busy hub known for commerce, culture, and vibrant urban living. The area enjoys strong road connectivity through major routes such as Agege Motor Road and Ikorodu Road, while buses and tricycles provide additional transport options for residents and visitors.
Mushin features a mix of residential and commercial spaces, including houses, apartments, markets, retail outlets, and small-scale industries. Key trading centres such as Ojuwoye Market and Ladipo Market attract traders from across Lagos, while workshops and small businesses help sustain the local economy.
The suburb also provides essential infrastructure such as schools, hospitals, clinics, drainage systems, and recreational facilities. However, like many densely populated urban areas, Mushin continues to face challenges, including traffic congestion, overcrowding, and waste management concerns.
7. Oshodi — N1.1million
Oshodi is number seven on the list of 10 cheapest areas in Lagos to rent a two-bedroom apartment, with average annual rent estimated at about ₦1.1 million.
The densely populated mainland suburb has long served as a major commercial and transport hub, with roots tracing back to the early 1900s when it was developed as a key colonial trade and market route that attracted migrants from across Nigeria and West Africa.
Today, large trading centres like Oshodi Market, Arena Market, and Bolade Market drive daily commerce, while the modern transport interchange connects BRT buses and multiple city routes through three multi-storey terminals equipped with waiting areas, loading bays, ticketing stands, parking spaces, and surveillance systems.
Bordered by Mushin, Surulere, Somolu, and Alimosho, the area continues to blend its cultural heritage with the realities of rapid urban growth.
8. Agege — N1.2million
Agege ranks as the eighth on the list of 10 cheapest areas in Lagos to rent a two-bedroom apartment, with average yearly rent estimated at about ₦1.2 million.
The neighbourhood has clearly defined boundaries, stretching from Dopemu Road in the north to Ashade Retail Market in the south, Oba Ogunji Road in the east, and Abeokuta Expressway in the west.
Agege maintains a vibrant local economy driven by busy commercial centres such as Abattoir Meat Market and Alade Market, which serve residents and traders with a wide variety of goods and services.
The area is also home to notable landmarks including the Agege Stadium, the Pen Cinema Flyover, and the National Youth Service Corps Permanent Orientation Camp.
Transport connectivity improved further with the opening of the Babatunde Fashola Railway Station in 2021, linking the area to Ogun State and Oyo State, strengthening regional mobility.
Residential options include estates such as Sunshine Estate and New Dairy Farm Housing Estate, offering a mix of housing suited to families and working professionals.
9. Ajegunle — N1.4million
Ajegunle ranks as the ninth most affordable location to rent a two-bedroom apartment in Lagos State, with an average annual rent of about ₦1.4 million.
Ajegunle is a densely populated neighbourhood located within Ajeromi-Ifelodun Local Government Area, strategically positioned near major port zones such as the Apapa Wharf and Tin Can Island Port, two of Nigeria’s busiest seaports.
Historically, the area has faced socio-economic challenges including poverty, crime, and limited infrastructure, factors that have contributed to relatively lower rental costs. However, in recent years, private sector investments have supported gradual urban renewal, with the emergence of modern buildings, hotels, and event centres helping to reshape parts of the community.
Key commercial hubs such as Ajegunle Market and Boundary Market drive daily trading activities, while proximity to places like Navy Town Market and Ajeromi General Hospital strengthens access to essential services. Despite these improvements, traffic congestion remains a major factor influencing daily life for residents.
10. Festac — N1.5 million
Festac ranks is number ten on the list of 10 cheapest areas in Lagos to rent a two-bedroom apartment, with an average annual rent of about ₦1.5 million.
Festac Town is a federal housing estate located in Amuwo-Odofin Local Government Area. It was originally developed to host visitors during the Second World African Festival of Arts and Culture (FESTAC ’77) held in 1977.
The estate was designed as a planned community, featuring about 5,000 housing units arranged across seven major avenues, alongside government-backed infrastructure and public amenities. Over time, early restrictions that prevented homeowners from selling or renting out properties were relaxed, helping Festac grow into a vibrant rental market.
Its structured road network, multiple access routes from the Lagos-Badagry Expressway, and connectivity through the Festac Link Bridge have continued to make the estate attractive to tenants working along Lagos’ western corridor.
