How Lagos residents can cut rent and pay about N116,667 monthly by sharing
By Aboki Forex —
Lagos residents battling rising rents can lower their housing costs by sharing an apartment rather than renting alone. Flatmates divide annual rent, service charges, electricity, internet and other household bills, which can turn a property that is unaffordable for one person into a manageable cost for a small group.
The savings depend on the total cost of the apartment, the number of residents and the terms agreed with the landlord.
What the numbers look like
An apartment costing N3.6 million a year, with N600,000 in additional housing expenses, comes to N4.2 million per year. Split equally among three residents, each person pays N1.4 million annually, or about N116,667 monthly.
A resident who would otherwise spend N1.8 million a year on a solo arrangement would save about N400,000 per year under this example. The calculation is illustrative and not a verified market average. It simply shows how dividing the total cost of a home reduces each person's burden.
Renters should compare the full cost of a shared apartment with living alone, including transport, service charges, agency fees, legal fees, deposits and furniture.
Three routes into flatsharing
The simplest option is a two-bedroom apartment shared with one other person. Each resident takes a private room and shares the living room, kitchen and other common areas.
Three-bedroom apartments suit colleagues, friends or students who already know one another. Each person gets a private room while the household shares common areas and agreed expenses, which offers more flexibility on personal space and household duties.
A third option is joining an existing tenant who has an empty room. This cuts the burden of securing a whole apartment, but the new occupant must confirm the landlord permits the arrangement.
The law and the landlord
The Lagos State Tenancy Law 2011 is the key legal reference for residential tenancy in the state. Section 7 states that, subject to the tenancy agreement, a tenant must not assign or sublet any part of the premises without the landlord's written consent.
A tenant therefore cannot simply move in a flatmate without checking the lease and getting approval. The law also excludes Ikoyi, Ikeja GRA, Victoria Island and Apapa from its general application, so residents should confirm which provisions cover their property.
Flatsharing works best when residents settle money, privacy, cleaning, guests and household responsibilities before moving in. A written agreement should state each person's rent contribution, payment deadlines, notice period, responsibility for damage and how a departing flatmate is replaced. Electricity, water, internet and service charges should be discussed openly.
Residents should also verify the landlord or authorised agent, inspect the apartment and keep payment records to limit the risk of fraud or disputes.
What it means for renters
Research by the National Institute for Legislative and Democratic Studies points to a wider housing affordability crisis in Nigeria, covering rising rents, inadequate affordable supply and the cost of relocating when tenants can no longer afford their homes.
Lagos has also ranked fourth among 10 cities for high-end two-bedroom rental costs in 2026, with an average annual rent of $19,379, according to a recent Nairametrics report.
Flatsharing cannot solve Nigeria's housing shortage. But for individual renters, combining a suitable location, compatible flatmates, transparent expenses and proper landlord approval can ease the pressure of carrying a home alone.