Lagos state is undoubtedly the commercial and entertainment capital of Nigeria. It is home to the most influential business brands in all industries. This, in turn, has attracted a steady influx of individuals, from expatriates, young dream-chasers, budding businesses, or just dwellers, into the State every year.
According to a report published on Statista, the population of Lagos as of 2022 was about 15.4 million people. Of course, the number is expected to keep climbing even more rapidly.
The status of this giant comes with its challenges. As much as never ending solutions are being provided steadily in areas such as high cost of living, transportation, security, and accommodation, they remain constant sources of concern, especially to the middle to low class, compared to other parts of the country.
This article will focus on the accommodation challenge and is essential to help average income earners cope with the high cost of living in the aspect of affordable accommodation in Lagos State.
Table of Contents
Features of Living in Lagos
This varies based on the individual taste of lifestyle and demand. General or call it basic, expenses include:
-
Housing
There is a massive gap between high-rise locations and low-rise. Rent in affluent areas such as the island and vital commercial locations on the mainland can go for over 10 million per year. High-net-worth individuals and higher-income earners dominate these areas.
For most areas of the mainland, however, rent comes with lower prices in rent varying on factors such as neighborhood, size, and quality.
-
Feeding
Whether shopping at a local market or grocery store to get your self-made meal or from a vendor, the cost of feeding in Lagos is generally overpriced/exorbitant. It is advisable to do most of your cooking yourself as often as comfortable.
Read Also: 6 Empowering benefits of living within your means
-
Transportation
The cost of public transportation in Lagos can vary based on style and distance. The cost of fueling and maintenance for personal vehicles is also a factor.
-
Utilities
Monthly utilities like electricity, water, internet, security, and general maintenance can be a significant drain on the pockets.
Read also: How to cultivate money-saving habits as a Nigerian
Average Income Earners
The average income in Lagos can be classified into several categories, with significant factors, such as education, experience, and the type of job, to be considered. Here are the available ranges:
-
Low-skilled workers
The minimum wage in Nigeria is 30,000 naira per month, but low-skilled workers such as laborers and factory workers may earn between 30,000 to 50,000 naira per month.
-
Skilled workers
Workers with technical expertise or professional training, such as teachers, nurses, and mid-level managers, can earn between 70,000 to 200,000 naira per month.
-
High-skilled workers
Highly educated workers such as engineers, doctors, and senior executives can earn salaries ranging from 200,000 to 1,000,000 per month or more, depending on the company and level of experience.
The categorized income earnings in Lagos are, however, significantly higher due to the outrageously high cost of living.
Therefore an average income earner in Lagos would be anyone earning below 500 000 naira.
Best Places to Live in Lagos for Average-income Earners
First, factors like security, building standard, power supply, and (not very achievable in several cases) proximity to the workplace, among others, are to be considered when choosing a place to live in Lagos. That said, average-income earners can search for some of the best affordable and good places to live in the following:
-
Yaba
This is a highly populated area located in the mainland part of Lagos. It has several affordable housing options and is close to some of Lagos’s leading commercial and business cities.
-
Maryland
Highly rated, it is a well-established neighborhood in the mainland of Lagos, known for its affordable housing options and relatively good infrastructure.
-
Ketu
Also located on the mainland, it is a commercial and residential area; it is very populated.
-
Surulere
Surulere is a neighborhood in Lagos with a mix of residential and commercial areas. It is also considered to be a safe and affordable area to live in.
-
Shomolu
This area is known for its affordability and relatively good infrastructure, making it an attractive option for those on a budget.
-
Ajah
Our only feature on the island part of Lagos is located along the Lekki-Epe Expressway and offers a variety of housing options at affordable prices.
These areas offer reasonable monetary value and can be considered some of the most popular choices in terms of affordability, commerce, and entertainment for average-income earners in Lagos.
Safe Ways to go House-Hunting in Lagos
-
Online research
Looking up online listings, real estate websites, forums, and reviews is a safe approach and one of the first steps to take when searching in Lagos.
-
Contact estate agents
Tested and trusted Estate companies and their agents have access and the proper knowledge to present about many properties and can assist you in finding a suitable one.
-
Recommendations
A good old way here is consulting with friends, family, and colleagues. Someone somewhere is sure to come up with helpful information, mostly from past experiences.
Keeping your comfort requirements in mind, consider the area’s security and quality of the building and its provided amenities before making a decision. Foreseeing future risks, such as flooding in a flood-prone area, is critical.
Want to get more updates? feel free to subscribe to our Youtube channel for discussions on Lifestyle and finances.
Conclusion
Lagos, one of the fastest-rising cities in the world, is undoubtedly an excellent place to be if you are development-inclined, high-class business-oriented, or just fun-loving. However, living wisely on a budget is undeniably essential if you seek to boast moderate to highly satisfying savings on your income within a desired time. Your choice of accommodation as an average income earner is a crucial factor to consider.
This article has highlighted some of the best places in Lagos for average-income earners. With a very informed search, however long it takes, hopefully not long to frustrating points, you can get a decent and comfortable rented space.
Join our whatsapp community to get updates on similar content tailored to better living.
About Author
-
Tomisin Adeoye is a digital content writer with a passion to enlighten on overall wholesome living through notable content on lifestyle, career and personal development.
I advocate for girls/women education and empowerment. I've also got some rich years of active experience in Communications and Broadcast Media.
Latest entries
LifestyleFebruary 6, 2023Best Places to live in Lagos for average income earners
CareerJanuary 15, 2023How to Become a Customer Care Representative in Nigeria