Top 5 places for millennials to live in Lagos under ₦15m

Lagos, Nigeria’s bustling metropolis, is known for its vibrant energy, economic opportunities, and diverse neighbourhoods. However, the cost of living in the city can be daunting, especially for millennials navigating careers, side hustles, and personal growth.

By 2025, certain areas in Lagos are expected to remain affordable while offering a balance of convenience and comfort.

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Here are the top 5 places for millennials to live in Lagos under ₦15m

1. Lekki

Lekki, a rapidly developing area, is becoming a hotspot for young professionals. While parts of Lekki are known for upscale living, areas like Lekki Phase 1 and Jakande offer more budget-friendly options. By 2025, shared apartments and studio flats in Lekki Phase, Osborne and Dolphin are estimated to cost between ₦3m to ₦15 m per annum, depending on proximity to the main road and amenities.

The area boasts of few good road networks, shopping centres, and access to tech hubs, making it ideal for millennials working in the creative and tech industries. Public transport, including ride-hailing services and buses, is readily available, reducing the need for personal vehicles.

2. Surulere

Surulere remains one of Lagos’s most affordable and well-connected neighbourhoods. Known for its cultural vibe and proximity to the city centre, Surulere offers a mix of old and new apartments. In 2025, a one-bedroom flat in areas like Bode Thomas or Aguda is estimated to cost between ₦1.5m to ₦2.5m annually.

Surulere is home to gyms, restaurants, and entertainment spots, providing a balanced lifestyle for millennials. The area’s central location also means shorter commute times to business districts like Victoria Island and Ikeja.

3. Magodo

Magodo, located in the Kosofe Local Government Area, is a serene residential neighbourhood that appeals to millennials seeking a quieter environment. The area is divided into Magodo Phase 1 and Phase 2, with Phase 2 being more affordable. By 2025, a self-contained studio or one-bedroom apartment in Magodo is estimated to cost between ₦1.5m to ₦5 per annum.

Magodo offers a blend of modern amenities and green spaces, making it suitable for young professionals who value tranquillity. The neighbourhood is also close to major highways, providing easy access to other parts of Lagos.

Read also: 8 Best places to live in Lagos

4. Ilupeju

Ilupeju, an industrial and residential area, is gaining popularity among millennials due to its affordability and strategic location. The area is home to several manufacturing companies, but it also has residential pockets with decent housing options.

Ilupeju’s proximity to Oshodi and Ikeja makes it a convenient choice for those working in these areas. The neighbourhood also has markets, eateries, and fitness centres, catering to the needs of young professionals.

5. Sangotedo

Sangotedo, located along the Lekki-Epe Expressway, is one of Lagos’s fastest-growing suburbs. The area is attracting millennials due to its relatively low cost of living and modern infrastructure.

Sangotedo offers a range of amenities, including shopping malls, schools, and hospitals, making it a self-sufficient community. The ongoing road construction projects in the area are expected to improve transportation, further enhancing its appeal.