Two-bedroom apartments remain among the most in-demand rental units in Lagos, prized for their balance of space, comfort, and cost, making them ideal for small families, professionals, and roommates.

With rents rising across the state and a persistent housing supply shortage, affordability has become a major consideration for many tenants, even if it means compromising on certain conveniences.

Understanding where value meets accessibility is, therefore, essential for navigating Lagos’ rental market.

This ranking of the cheapest areas to rent a two-bedroom apartment is based on The Lagos Residential Market Report 2025 by Edala Development, which provides average rental values for apartments across the city.

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The following list highlights the ten areas where renters can find the most affordable two-bedroom apartments in Lagos.

Festac — N1.5 million 

Festac ranks as the tenth cheapest area in Lagos State to rent a two-bedroom apartment, as the average rent is N1.5 million per year.

Festac Town is a federal housing estate in Amuwo-Odofin Local Government Area, originally developed for the Second World African Festival of Arts and Culture held in 1977.

  • Designed as a planned community with about 5,000 housing units laid out across seven major avenues, the estate was built with extensive government-backed infrastructure and public amenities.
  • Over time, restrictions that initially prevented property owners from renting or selling their homes eased, allowing Festac to evolve into an active rental market.

The estate’s organised road network, multiple access points from the Lagos-Badagry Expressway, and connectivity via the Festac Link Bridge supported its appeal to tenants working along the western corridor of Lagos.

Ajegunle — N1.4million 

Ajegunle ranks as the ninth cheapest area in Lagos State to rent a two-bedroom apartment, with an average rent of N1.4 million yearly.

  • Ajegunle is a densely populated neighbourhood in the Ajeromi-Ifelodun Local Government Area, bordering Apapa Wharf and Tincan, two of Nigeria’s busiest seaports.
  • The area has historically faced challenges such as poverty, crime, and inadequate infrastructure, which have contributed to its affordability.
  • In recent years, private investments have driven urban renewal, including the development of modern buildings, hotels, and event centres, gradually transforming the community.

Notable local hubs such as Ajegunle Market, Boundary Market, and the local bus terminal support daily commerce, while proximity to Navy Town Market and Ajeromi General Hospital adds to the neighbourhood’s functionality. Traffic congestion remains a key factor shaping residents’ daily experience.

Agege — N1.2million

Agege ranks as the eighth cheapest area in Lagos State to rent a two-bedroom apartment, with an average rent of N1.2 million yearly.

  • Agege is a neighbourhood in Lagos State with 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 Express Road in the west.
  • The area sustains a dynamic local economy through vibrant markets like Abattoir Meat Market and Alade Market, which provide a wide range of goods and services.
  • Agege also hosts key landmarks such as the National Youth Service Corps Permanent Orientation Camp, Agege Stadium, and the Pen Cinema Flyover, which has helped ease traffic congestion and improve connectivity.

The Babatunde Fashola Railway Station, opened in 2021, links Agege to Ogun and Oyo States, enhancing regional travel. Residential options include estates like Sunshine Estate and New Dairy Farm Housing Estate, offering a mix of housing for families and working professionals.

Oshodi — N1.1million

Oshodi ranks as the seventh cheapest area in Lagos State to rent a two-bedroom apartment, with an average rent of N1.1 million per annum.

Oshodi, a densely populated suburb on Lagos Mainland, has long been a vital commercial and transport hub.

  • Its importance dates back to the early 1900s, when the colonial government established it as a key market and trade route, attracting migrants from across Nigeria and West Africa.
  • Oshodi Market, one of the largest in West Africa, remains the centre of daily commerce, alongside Arena Market, a general goods market, and Bolade Market, which sells food and other essentials.
  • A major feature of Oshodi is the Transport Interchange, which links BRT buses and other city routes.

It comprises three multi-storey terminals with waiting areas, loading bays, ticketing stands, drivers’ lounges, parking, and surveillance systems, highlighting the suburb’s public infrastructure.

Bordered by Mushin, Surulere, Somolu, and Alimosho, Oshodi continues to balance its rich cultural heritage with the demands of a fast-paced urban environment.

Mushin — N1.1million 

Mushin ranks as the sixth cheapest area in Lagos State to rent a two-bedroom apartment, with an average rent of N1.1 million per year.

Mushin has grown into a bustling hub of commerce, culture, and urban life since its establishment in 1955.

  • The area is well connected by major roads such as Agege Motor Road and Ikorodu Road, and public transport options like buses and tricycles make it easy for residents and visitors to move around.
  • Mushin combines residential and commercial spaces, including houses, apartments, markets, retail shops, and small industries.
  • Key markets like Ojuwoye and Ladipo attract traders from across Lagos, while small-scale enterprises and workshops sustain its dynamic economy.

The suburb also offers essential infrastructure and amenities, including schools, hospitals, clinics, drainage systems, and recreational facilities.

Still, it faces challenges such as traffic congestion, overcrowding, and waste management issues.

Alimosho — N1million

Alimosho ranks as the fifth cheapest area in Lagos State to rent a two-bedroom apartment, with an average rent of N1 million yearly.

Alimosho Local Government is the most populous in Lagos State. Originally spanning a vast area in northwest Lagos, it borders Ifako-Ijaiye to the west, Agege and Ikeja to the south, Kosofe to the east, and Ogun State to the north.

Rapid population growth later led to its subdivision into LCDAs such as Agbado-Oke Odo, Egbe-Idimu, Ikotun-Igando, Mosan-Okunola, and Ayobo-Ipaja.

Despite these subdivisions, Alimosho remains a major socio-economic hub, driven by rapid urbanisation, a thriving informal economy, and a growing middle class.

The area hosts numerous markets, small businesses, educational institutions, and residential estates, contributing significantly to Lagos State’s economic and social activity.

Ojo — N967,000

Ojo ranks as the fourth cheapest area in Lagos State to rent a two-bedroom apartment, with an average annual rent of N967,000.

  • The town is a major commercial and residential area in Lagos’ Badagry axis, known for key markets such as Alaba International Market and Iyana-Iba Market, which support extensive trading and employment activities.
  • It is also home to Lagos State University (LASU) and lies along the Lagos–Badagry Expressway, providing road connectivity to Amuwo-Odofin, Ajeromi-Ifelodun, Alimosho, and Badagry.

Ferry services along nearby creeks further complement road transport, while ongoing activity along the expressway continues to shape real estate demand in the area.

Ikorodu — N815,000

Ikorodu ranks as the third cheapest area in Lagos State to rent a two-bedroom apartment, with an average annual rent of N815,000. Located in the north-eastern part of Lagos and bordered by the Lagos Lagoon and Ogun State.

  • The area has strong transport links, with the BRT corridor connecting to TBS, Ikeja, and Oshodi, and multiple jetties enabling inland water travel to Victoria Island, Ikoyi, and Lekki in 30 minutes or less. Ikorodu also serves as a transit point for travellers leaving Lagos to Shagamu, Ijebu Ode, and Epe.
  • Ikorodu hosts two tertiary institutions: Caleb University, a private university, and Lagos State University of Science and Technology (LASUSTECH), a state-run university.

The area also supports several industries, including the SAGLEV Electromobility assembly plant. Key infrastructure, such as the Egbin Power Station, further strengthens Ikorodu’s economic profile.

The city features a mix of established neighbourhoods and growing residential estates, reflecting its expanding role within the Lagos metropolitan area.

Epe — N605,000

Epe ranks as the second cheapest area in Lagos State to rent a two-bedroom apartment, with an average annual rent of N605,000.

  • Located on the north side of Lekki Lagoon, Epe is a town and Local Government Area with road links to Ijebu-Ode and Ikorodu, providing easy access to Lagos and beyond.
  • The area is known for its fishing and agricultural economy, with rivers and lagoons rich in fish, crayfish, periwinkles, and oysters. Several jetties provide options for inland waterway transport, connecting Epe to other parts of Lagos.

Farming activities include the cultivation of plantains, coconuts, and other crops, while local markets like Oluwo Market, Aiyetoro Market, and the Epe Fish Market support vibrant trade.

Epe also features beautiful beaches, mangrove forests, and waterways, and is home to the Epe Mangrove Forest Reserve and the Epe Museum, highlighting the area’s natural and cultural heritage.

Badagry — N575,000

Badagry is the cheapest area in Lagos State to rent a two-bedroom apartment, with an average annual rent of N575,000.

  • It is a coastal town and Local Government Area in the Badagry Division, located on the north bank of Porto Novo Creek, an inland waterway linking Lagos to Porto-Novo in Benin.
  • The town also serves as a transit point to Porto-Novo.
  • The local economy is driven by fishing, trading, and tourism, with its rich history, including ties to the Trans-Atlantic slave trade and early missionaries, attracting visitors.
  • Inland waterways provide an alternative transport option within Lagos and to the surrounding areas.

In 2024, the Federal Government began the 1,068-kilometre Sokoto-Badagry Superhighway, part of the Trade, Transport, and Security Greenfield corridor.

The highway spans several states and terminates in Lagos, aiming to reduce transport costs, boost trade, and enhance connectivity across the country.