As Nigeria’s population grows, it influences rent prices, which has become a useful measure of economic pressure, urban migration, and infrastructure demand. Tracking rent trends helps reveal where people are moving, where businesses are growing, and where public and private investments are most concentrated.
This report focuses on six Nigerian cities with the highest average flat rent prices. It highlights the economic activities, real estate patterns, and specific neighbourhoods that influence the cost of housing.
From government centres to commercial hubs and emerging industrial zones, these cities reflect broader shifts in Nigeria’s urban economy.
According to Nigeria Property Centre, these are the top 6 cities in Nigeria with the most expensive rent prices for a flat
Lagos
Lagos stands out as Nigeria’s economic powerhouse, dwarfing other cities with its significant GDP contribution and bustling commercial activities across diverse sectors. Its hospitality sector is thriving, attracting major international brands and boasting high occupancy rates, primarily driven by business travel, making it a key destination for hotel investment. While it offers a vibrant cultural scene and attractions like beaches and historical sites, Lagos is notoriously the most expensive city in Nigeria for high rent, with an average flat rent price of ₦7,670,000 annually, though housing rent in areas like Eko Atlantic city go for a average annually rent of ₦49,920,00 annual, ikoyi ₦28,190,000 annually, and Victoria Land goes for ₦16,180,000 per annual
Abuja
Abuja, Nigeria’s purpose-built capital, is a hub for government and diplomatic activities, driving consistent demand for its upscale hospitality sector, which includes several international hotel brands. Economically, while heavily reliant on government administration, it also sees growth in real estate, retail, and a booming leisure industry, especially driven by a rising middle class. The city boasts significant natural beauty, with landmarks like Aso Rock and Zuma Rock, along with numerous parks and tranquil lakes offering recreational escapes. The average flat rent in Abuja goes for ₦5,250,000 per annum, although generally more expensive for prestigious districts like Maitama District goes for ₦13,910,000 per annum, Guzape District average flat rent is ₦10,150,000 per annum, Wuse 2 average flat rent is ₦9,940,000 per annum, and Asokoro District average flat rent is ₦8,170,000 per annum. However, the rapidly growing population continues to put pressure on infrastructure and housing affordability.
Edo
Edo State, with its capital Benin City, boasts a growing hospitality sector, buoyed by its rich cultural heritage, ancient Benin Kingdom history, and Dewey;.3:4vibrant festivals that attract tourists. Economically, it thrives on agriculture (especially oil palm), trade, a developing manufacturing sector, and services, including remittances from its diaspora. The state’s beauty is evident in its historical sites, natural attractions like the Ogba Zoo, and scenic landscapes. While rent prices in Benin City are generally more affordable compared to Lagos or Abuja, with an average flat rent price of ₦8,170,000 per annum, they are still higher than many other Nigerian cities, reflecting its status as a significant state capital.
Rivers
Rivers State, particularly its capital, Port Harcourt, is a major economic hub driven by the oil and gas industry, making it one of Nigeria’s wealthiest states. The hospitality sector in Port Harcourt is significant, with both local and international hotels catering largely to business travelers and a growing leisure market. The state boasts diverse natural beauty, from its coastal areas and rivers to parks and cultural sites like the Port Harcourt Tourist Beach and the Rivers State Cultural Center. The average flat rent price in Port Harcourt is ₦2,250,000 per annum, which reflects its economic importance and demand for housing.
Oyo
Oyo State, with Ibadan as its capital, has a developing hospitality sector that benefits from its historical significance as one of West Africa’s largest cities and its role as an agricultural center. Economically, the state is driven by agriculture, particularly cocoa and food crops, and a growing presence of small and medium-sized enterprises, including manufacturing and services. Oyo boasts a unique blend of urban and natural beauty, featuring historical landmarks like the Cocoa House, scenic hills, and traditional markets. The average flat rent price in Oyo is ₦2,250,000 per annum, in Ibadan is considerably more affordable than in Lagos or Abuja, offering a more budget-friendly living option while still providing access to essential amenities and economic activity.
Ogun
Ogun State, a vital neighbor to Lagos, is experiencing rapid growth in its hospitality sector, driven by its strategic location and burgeoning industrial zones, attracting business travelers and tourists. Economically, it’s becoming an industrial powerhouse, with numerous manufacturing companies, a strong agricultural base, and increasing commercial activities, contributing significantly to Nigeria’s GDP. The state offers a blend of natural and historical beauty, including tourist attractions like Olumo Rock and various historical sites. The average flat rent price in Ogun is ₦2,250,000 per annum in Ogun State, particularly in its growing cities like Abeokuta and Sango-Ota, is generally more affordable than in Lagos, making it an attractive option for those seeking a less expensive alternative while remaining close to economic opportunities.
