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.
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.
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.