Finding affordable housing in Lagos can be challenging, especially when you’re looking for larger spaces like a 3-bedroom apartment. With property prices soaring in many parts of the city, it’s important to know where you can find a balance between affordability, accessibility, and comfort. In this guide, we explore the top 10 most affordable neighborhoods in Lagos for 3-bedroom apartments in 2024, based on rental rates, proximity to major roads, and amenities.

1. Ijegun

Ijegun, located in Alimosho Local Government Area, is a growing suburb that offers affordable housing options for Lagosians. A 3-bedroom apartment in this neighborhood can be rented for as low as N600,000 to N1.2 million annually, making it one of the most budget-friendly areas in Lagos. The area is known for its relatively quiet environment, and while it may not have the most developed infrastructure, it provides essential amenities like schools, markets, and healthcare facilities.

Average rent for a 3-bedroom apartment: N600,000 – N1.2 million

Pros:

Affordable rental prices.
Quiet and residential environment.
Growing area with basic amenities like schools and markets.

Cons:

Limited infrastructure and road networks.
Distance from major business districts.
Public transportation options may be limited.

2. Ikorodu

Ikorodu is another affordable option for families or individuals looking for spacious accommodation without breaking the bank. Located on the outskirts of Lagos, Ikorodu offers rental prices between N800,000 and N1.5 million for a 3-bedroom apartment. The area has good road networks and is accessible via the Ikorodu Road and Lagos Ferry Terminal for those working in the city center.

Average rent for a 3-bedroom apartment: N800,000 – N1.5 million

Pros:

Affordable rents compared to central Lagos.
Increasingly developed with better road networks.
Good options for commuting via road and ferry.

Cons:

Far from central Lagos (long commuting time).
Occasional traffic bottlenecks, especially on Ikorodu Road.
Fewer upscale shopping and entertainment options.

3. Ipaja

Ipaja, located in Alimosho LGA, has long been considered a budget-friendly option for tenants looking for larger living spaces. Rent for a 3-bedroom apartment ranges from N800,000 to N1.5 million annually, depending on the exact location and the level of finishing in the apartment. The area is accessible via major roads and offers public transport links to the central business districts.

Average rent for a 3-bedroom apartment: N800,000 – N1.5 million

Pros:

Affordable for families and larger households.
Proximity to Alimosho’s business hubs.
Basic amenities and schools within reach.

Cons:

Road infrastructure may need improvements.
Traffic congestion during peak hours.
Limited high-end services and recreational activities.

4. Mowe-Ibafo

For those willing to live on the outskirts of Lagos, Mowe-Ibafo offers an excellent opportunity for affordable housing. Located along the Lagos-Ibadan expressway, this growing neighborhood provides 3-bedroom apartments for as low as N500,000 to N1 million annually. While it’s a bit far from central Lagos, Mowe-Ibafo is ideal for those who commute infrequently to the city or work remotely.

Average rent for a 3-bedroom apartment: N500,000 – N1 million

Pros:

Very affordable housing options.
Ideal for remote workers or those who commute infrequently.
Proximity to the Lagos-Ibadan Expressway allows easier travel to other states.

Cons:

Significant distance from Lagos Island and central business areas.
Less developed infrastructure (water and electricity can be inconsistent).
Limited entertainment and shopping options.

5. Ajah

Ajah is an affordable alternative to the more expensive Lekki and Victoria Island areas. Although it has seen significant development in recent years, Ajah still offers a range of housing options that are relatively cheaper than Lekki Phase 1 or Chevron Drive. A 3-bedroom apartment in Ajah ranges from N1.2 million to N2.5 million per year, depending on the estate and proximity to Lekki-Epe Expressway.

Average rent for a 3-bedroom apartment: N1.2 million – N2.5 million

Pros:

Well-developed area with good road networks.
Proximity to upscale Lekki and Victoria Island.
Modern amenities, schools, and shopping malls nearby.

Cons:

Higher rent compared to other suburbs.
Traffic congestion along Lekki-Epe Expressway.
Flooding concerns in some parts during the rainy season.

6. Festac Town

Festac Town, known for its rich history and established infrastructure, remains one of the most affordable places for renting a 3-bedroom apartment. Located in Amuwo-Odofin, Festac offers a more urban environment than some of the outlying suburbs, with rental prices ranging from N1 million to N2.5 million annually. The area is well-connected to other parts of Lagos, especially the Island via the Lagos-Badagry Expressway.

Average rent for a 3-bedroom apartment: N1 million – N2.5 million

Pros:

Well-planned urban area with good infrastructure.
Close to key areas like Amuwo-Odofin and Lagos Island.
Good transport links via the Lagos-Badagry Expressway.

Cons:

Some parts of Festac are becoming overcrowded.
Maintenance of public facilities and roads can be an issue.
Property prices have been rising steadily.

7. Ojo

Ojo, situated along the Lagos-Badagry Expressway, is another budget-friendly option. It is popular among students and middle-income families due to its proximity to the Lagos State University (LASU) and affordable housing prices. Renting a 3-bedroom apartment in Ojo costs between N800,000 to N1.5 million per year.

Average rent for a 3-bedroom apartment: N800,000 – N1.5 million

Pros:

Affordable housing near Lagos State University (LASU).
Developing infrastructure with road networks improving.
Relatively peaceful environment.

Cons:

Distance from the Lagos business district.
Inconsistent public transportation options.
Traffic congestion can be a problem.

8. Ogba

Ogba, located in the Ikeja axis, offers affordable housing for those seeking proximity to the business and commercial hubs of Lagos. A 3-bedroom apartment in this neighborhood costs between N1.5 million to N3 million annually, making it a reasonably priced option compared to nearby areas like Ikeja GRA or Maryland. Ogba boasts good road networks, schools, and shopping centers.

Average rent for a 3-bedroom apartment: N1.5 million – N3 million

Pros:

Proximity to Ikeja, Lagos’ commercial hub.
Good infrastructure with access to major roads.
Presence of shopping centers, schools, and hospitals.

Cons:

Slightly higher rent than other suburbs.
Traffic bottlenecks during rush hour.
Noise and air pollution from busy roads.

9. Surulere

Surulere remains one of Lagos’ most vibrant neighborhoods, offering a blend of residential and commercial appeal. While some parts of Surulere can be expensive, there are more affordable options in areas like Aguda and Ijesha, where you can rent a 3-bedroom apartment for N1.2 million to N2.8 million. The neighborhood is well-served by public transport, including BRT buses and the Lagos light rail.

Average rent for a 3-bedroom apartment: N1.2 million – N2.8 million

Pros:

Central location with excellent public transport options.
Well-developed with plenty of entertainment, shopping, and dining options.
Good road networks and connectivity to Lagos Island.

Cons:

Higher rent due to its central location.
Can be crowded and noisy, especially in commercial areas.
Some parts prone to flooding.

10. Badagry

Badagry, located along the western coast of Lagos State, offers an affordable and serene environment for those willing to live further away from the hustle and bustle of central Lagos. Renting a 3-bedroom apartment in Badagry costs between N600,000 to N1.2 million, making it a cost-effective choice for families. The area is rich in history and tourism potential, but commuting to central Lagos can be time-consuming due to distance.

Average rent for a 3-bedroom apartment: N600,000 – N1.2 million

Pros:

Very affordable rental prices.
Serene environment with rich history and tourist attractions.
Relatively low traffic congestion.

Cons:

Significant distance from the Lagos business hub.
Limited job opportunities in the immediate vicinity.
Infrastructure still developing, with limited high-end services.

Conclusion

Lagos offers a diverse range of affordable neighbourhoods for those seeking spacious 3-bedroom apartments without breaking the bank. Whether you’re looking for budget-friendly suburbs like Mowe-Ibafo or more urban environments like Surulere, you can find suitable options depending on your budget and lifestyle preferences.

When choosing a neighborhood, consider factors such as proximity to work, available amenities, access to public transport, and your long-term plans for living in Lagos. With continued development across the city, some of these areas are likely to see property value appreciation, making them not just affordable but also promising for future investments.

If you’re looking for more real estate insights and affordable property listings, stay tuned to LandsOfNigeria for up-to-date information on Nigeria’s housing market.