How long would it take a minimum wage earner to afford a 1-Bedroom Apartment in different parts of Lagos?
Eko Atlantic City — 24 years 11 months
Banana Island — 11 years 11 months
Ikoyi — 9 years 6 months
Victoria Island — 8 years 11 months
Lekki Phase I — 5 years 4 months
Lekki…— StatiSense (@StatiSense) December 31, 2025
How long would it take a minimum wage earner to afford a 1-Bedroom Apartment in different parts of Lagos?
Eko Atlantic City — 24 years 11 months
Banana Island — 11 years 11 months
Ikoyi — 9 years 6 months
Victoria Island — 8 years 11 months
Lekki Phase I — 5 years 4 months
Lekki Phase II — 4 years 2 months
Ikeja — 3 years 10 months
Yaba — 2 years 7 months
Ajah — 2 years 5 months
Gbagada — 2 years 5 months
Surulere — 1 year 9 months
Apapa — 1 year 7 months
Ketu — 1 year 4 months
Shomolu — 1 year 4 months
Festac — 1 year 2 months
Oshodi — 1 year 0 months
Alimosho — 11 months
Agege — 11 months
Ajegunle — 11 months
Mushin — 11 months
Ojo — 9 months
Ikorodu — 8 months
Epe — 6 months
Badagry — 5 months
This calculation is based on current 1-bedroom average rental prices and assumes the worker saves 100% of their ₦70,000 monthly income, with no spending at all. It also does not account for future rent increases over the saving period.
Even in the most affordable area, a 1-bedroom apartment consumes 42% of a minimum-wage earner’s annual income.
That means nearly half of everything earned in a year goes to rent alone. That’s before food, transport, healthcare, electricity, school fees, or emergencies.
#Statisense
(Lagos Residential Market Report 2025)