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.
The following list highlights the ten areas where renters can find the most affordable two-bedroom apartments in Lagos.
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.
Well composed and conveyed, this writeup is a concise handout for accommodation seekers, who continually swim in the pool of dilemma of remaining in Lagos State or relocate (to village) due to rising cost of accommodation.