Residents decry soaring Lagos house rents, demand urgent control

Lagos map

Residents across parts of Lagos State have described the spiralling cost of house rents as suffocating, urging urgent legislative and executive intervention to prevent a deepening housing crisis.

In separate interviews with PUNCH Metro on Tuesday, many residents lamented that rent now consumes nearly half—or more—of their annual income, leaving little room for savings or basic needs.

A 2023 report on Nigeria’s housing market indicated that households spend between 50 and 70 per cent of their income on rent—far above the globally recommended threshold of 30 per cent—describing the development as “symptomatic of structural dysfunction, not a temporary spike.”

A resident of Ogba, Rasaq Adebanjo, said the rising cost of accommodation has become unbearable.

“House rents in Lagos have become too expensive. Some landlords even state that rent increases automatically after three years. And that’s if you can find one you can conveniently pay for without it consuming your entire yearly income. It’s really hard,” he said.

A corps member, Mercy, recounted her shock while searching for accommodation shortly after arriving in Lagos.

“When I came to Lagos, the first thing I needed was accommodation. But an agent asked for N1.5m for a mini flat in Surulere—not even on the Island. I was shell-shocked.

“I later realised I wasn’t alone after colleagues shared similar experiences. Even when three of us tried to pool money together for an apartment, we still couldn’t afford it.

“Meanwhile, we go to work daily, earning a N77,000 allowance and a N30,000 stipend from the company where I’m serving.”

A fresh graduate, Peter, who recently relocated to Lagos for employment, said he currently squats with a relative in Ogun State due to high rents in the state.