As Lagos continues to grow as a bustling metropolis, the demand for spacious and comfortable living arrangements has surged, with many families and professionals seeking 3-bedroom flats for their versatile living spaces.
These apartments provide ample room for families, offer additional space for home offices, and cater to the lifestyle needs of those who prioritize comfort and convenience.
To provide an accurate picture of the rental landscape in Lagos in 2024, Nairametrics collaborated with two reputable real estate firms, Buyletlive and Estate Intel. By averaging the data from these firms, the priciest neighbourhoods for renting a 3-bedroom flat in Lagos have been identified.
These prices exhibit a high level of dispersion or variability due to sub-location differences, property amenities, and developer grade. Additionally, some outliers exist with significantly high or low prices.
This analysis offers valuable insights for prospective tenants and highlights the dynamic property market in one of Africa’s most vibrant cities.
Here are the priciest neighbourhoods for a 3-bedroom flat in Lagos in 2024:
Apapa GRA
Average Rent: N2,500,000
Apapa GRA offers a quieter environment compared to the bustling city centre, making it an attractive location for those seeking a more peaceful living area. The neighbourhood is characterized by its serene atmosphere, lush greenery, and a strong sense of community. Residents enjoy a break from the hectic pace of central Lagos while still having access to essential services and amenities. The average rent for a 3-bedroom flat in this neighbourhood is N2,500,000.
Magodo
Average Rent: N3,500,000
Known for its serene environment and secure, Magodo is a preferred choice for families looking for a blend of tranquillity and accessibility. The area boasts well-maintained streets, modern infrastructure, and a variety of recreational facilities, making it ideal for both relaxation and active lifestyles. The average rent for a 3-bedroom flat in Magodo is N3,500,000.
Yaba
Average Rent: N3,625,000
A hub for education and technology, Yaba is popular among young professionals and families, boasting a vibrant community and numerous amenities. The area is home to several tertiary institutions, tech hubs, and cultural centres, creating a dynamic and energetic environment.
With its mix of old and new developments, Yaba offers a unique living experience. The average rent for a 3-bedroom flat in Yaba is N3,625,000. Estates such as Jacob Mews, Biuwa Estate, Heliconia, and Amazing Grace Court are known for their premium prices in Yaba.
Opebi/Allen, Ikeja
Average Rent: N3,750,000
Located in the heart of Ikeja, Opebi/Allen offers a mix of residential and commercial spaces, providing convenience and accessibility to key areas.
This neighbourhood is known for its vibrant nightlife, shopping centres, and business districts, making it a bustling hub for both living and working. The average rent for a 3-bedroom flat in Opebi/Allen is N3,750,000.
Ogudu GRA
Average Rent: N4,125,000
Ogudu GRA is known for its well-planned layout and proximity to major roads, making it a desirable location for those seeking a suburban feel within the city. The area offers a mix of modern housing, recreational facilities, and good security, making it popular among families and professionals alike. The average rent for a 3-bedroom flat in Ogudu GRA is N4,125,000.
Adeniyi Jones, Ikeja
Average Rent: N5,750,000
Adeniyi Jones offers a blend of residential and commercial properties, making it ideal for professionals who prefer living close to their workplaces.
The area is characterized by its strategic location, easy access to major highways, and a variety of amenities including schools, hospitals, and shopping centres. The average rent for a 3-bedroom flat in Adeniyi Jones is N5,750,000.
Lekki Phase 1
Average Rent: N8,125,000
Lekki Phase 1 is renowned for its modern infrastructure, upscale living, and proximity to beaches and leisure spots, attracting a mix of expatriates and affluent Nigerians. The area is famous for its luxurious estates, shopping malls, and vibrant nightlife, making it a prime location for those seeking a high-quality lifestyle. The average rent for a 3-bedroom flat in Lekki is N8,125,000.
Ikeja GRA, Ikeja
Average Rent: N9,000,000
Ikeja GRA is one of the most prestigious areas in Lagos, known for its spacious homes, quiet streets, and proximity to the airport and commercial hubs. This neighborhood is favored by top executives and expatriates due to its exclusivity, lush landscapes, and high-end facilities. The average rent for a 3-bedroom flat in Ikeja GRA is N9,000,000.
Victoria Island
Average Rent: N13,000,000
As a prime business and residential district, Victoria Island offers luxury apartments, top-tier amenities, and a vibrant nightlife, catering to high-income earners and expatriates.
The area is home to many multinational companies, embassies, and high-end shopping and dining options, making it one of the most sought-after locations in Lagos. The average rent for a 3-bedroom flat in Victoria Island is N13,000,000.
Ikoyi
Average Rent: N16,500,000
Topping the list, Ikoyi is synonymous with luxury and exclusivity. It boasts some of the most expensive real estate in Lagos, with high-end apartments, elite schools, and exclusive clubs. Ikoyi is preferred by top executives, diplomats, and wealthy individuals who seek privacy, security, and the finest amenities. The average rent for a 3-bedroom flat in Ikoyi is N16,500,000.