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The short answer
No official body publishes Akure rents, so treat any figure as an estimate. As labelled examples, a self-contained room might let for about ₦150,000 to ₦300,000 a year in Oba-Ile or Oke-Aro and about ₦300,000 to ₦600,000 in Alagbaka or Ijapo Estate, with a 3-bedroom flat ranging from about ₦500,000 to over ₦2 million depending on area and finish. Alagbaka and Ijapo are commonly reported to cost more because of planned layouts, better roads and demand from salaried tenants.
Akure is far cheaper than Lagos, but rents vary a great deal from one part of the city to another and from one building to the next. This guide gives labelled example ranges for four areas people ask about most, explains what pushes prices up, and lists the checks that matter more than the headline rent. For comparison, BusinessDay reported on 16 July 2026 that the average annual rent for a 2-bedroom flat in Lekki Phase 1, Lagos, was ₦10 million; Akure's figures sit at a small fraction of that.
Example yearly rents by area (labelled, not a survey)
These ranges are planning examples built for this guide, not survey results. New buildings, fenced compounds, prepaid meters and boreholes all sit at the top of each range.
| Area | Self-con | Mini flat (1-bed) | 2-bedroom | 3-bedroom |
|---|---|---|---|---|
| Alagbaka | ₦350,000 to ₦600,000 | ₦500,000 to ₦900,000 | ₦800,000 to ₦1.5m | ₦1.2m to ₦2.5m |
| Ijapo Estate | ₦300,000 to ₦500,000 | ₦450,000 to ₦800,000 | ₦700,000 to ₦1.3m | ₦1m to ₦2m |
| Oba-Ile | ₦150,000 to ₦300,000 | ₦250,000 to ₦450,000 | ₦400,000 to ₦700,000 | ₦550,000 to ₦1m |
| Oke-Aro | ₦150,000 to ₦280,000 | ₦250,000 to ₦400,000 | ₦350,000 to ₦650,000 | ₦500,000 to ₦900,000 |
Why Alagbaka and Ijapo cost more
Tenants and agents commonly give the same reasons:
- Planned layouts. Both are commonly described as planned areas with clearer road networks than older parts of the city.
- Tenant demand. Civil servants, bankers and professionals look there first, which keeps vacancies short.
- Building quality. More recent, fenced compounds with their own water and power back-up.
- Access. Shorter journeys to offices, banks and schools in the city centre.
Oba-Ile and Oke-Aro attract students, young workers and families who want more space for the money, and both have grown with the city. Oke-Aro is also close to FUTA, so student demand shapes what is available.
Other areas tenants ask about
The four areas above are not the whole city. Tenants also look along the main roads out of the centre, around the FUTA gates, and in older neighbourhoods close to the markets. Older central areas can be cheaper and well placed for traders, but buildings are often older, plots tighter and drainage weaker. Newer layouts on the edges of the city can offer more space and newer buildings at lower rents, with longer and costlier daily journeys and, sometimes, unfinished roads. Whatever the area, price the commute: two keke or bus fares a day for a year can exceed the rent difference between two flats. See transport fares in Akure to estimate it.
Renewals and rent rises
Most Akure lets run for a year, paid in advance, and the landlord may raise the rent at renewal. Before you sign, ask how much the rent rose at the last renewal and whether the agreement says how much notice you get of an increase. Put the answer in the agreement where you can. Keep every rent receipt, because a clean record of on-time payments is your strongest argument against a sharp rise and your best reference for the next landlord. If you plan to stay several years, ask whether the landlord will fix the rent for two years in exchange for paying on time.
What matters more than the area
Two everyday problems should weigh as heavily as rent:
- Waste. Vanguard reported on 1 July 2026 that refuse heaps lined roads in parts of Akure, naming Arakale, Ijoka, Oke Aro, Aule and Orita Obele among the worst-hit areas, while private operators mainly served estates and government reservation areas. Ask how rubbish is collected on the street you are considering; see waste levies in Akure.
- Water. The Guardian reported in December 2025 that Akure had endured decades of inadequate public water supply, with an Owena Dam project only then breaking ground. Ask whether the building has a working borehole and who pays to run it; see water in Akure.
Matching rent to income
A common rule is to keep yearly rent at or below about a quarter to a third of yearly take-home pay. Example (labelled): a worker taking home ₦150,000 a month earns ₦1.8 million a year; a quarter of that is ₦450,000, which fits a self-con in most areas or a mini flat in Oba-Ile or Oke-Aro in the table above. For scale, Ondo State's minimum wage was reported as ₦73,000 a month (Nairametrics, 1 May 2026), or ₦876,000 a year; a quarter of that is ₦219,000. Read how much rent you can afford for the full method.
What to check first
- See the flat in daylight and after rain, to check drainage and road access.
- Confirm the person collecting rent owns the property or has written authority.
- Ask about the electricity meter, water source and waste collection.
- Get the full upfront cost, not only the rent; see upfront cost of renting in Akure.
Where Pryme fits
Yearly rent is easier to meet when it is saved monthly. Pryme's naira Savings Boxes can hold rent money apart from spending money, with rates shown in the app.
Questions people ask
How much is rent in Akure?
No official figures exist. As labelled examples, a self-con might cost about ₦150,000 to ₦300,000 a year in Oba-Ile or Oke-Aro and ₦300,000 to ₦600,000 in Alagbaka or Ijapo. Check with several agents.
Which area is best to live in Akure?
It depends on budget and work. Alagbaka and Ijapo are commonly preferred by salaried workers; Oba-Ile and Oke-Aro offer more space for the money. Check waste collection, water and road access on the actual street.
How much is a 2-bedroom flat in Akure?
As a labelled example, roughly ₦350,000 to ₦700,000 a year in Oba-Ile or Oke-Aro and ₦700,000 to ₦1.5 million in Ijapo or Alagbaka, depending on the building.
Is Akure cheaper than Lagos for rent?
Yes, by a wide margin. BusinessDay reported a ₦10 million average yearly rent for a 2-bedroom in Lekki Phase 1 in July 2026, far above Akure's example ranges.
Sources
- BusinessDay: Rental yields challenge assumptions as Ikoyi trails Lekki corridor (16 Jul 2026) · accessed Oct 2026
- Vanguard: Refuse take over roads in Ondo, Oyo, Ekiti, Ogun (1 Jul 2026) · accessed Oct 2026
- The Guardian: Aiyedatiwa revives decades of stalled running tap water in Ondo (9 Dec 2025) · accessed Oct 2026
- Nairametrics: Minimum wage 2026, what every state in Nigeria pays (1 May 2026) · accessed Oct 2026
This article is general information, not financial, legal or tax advice. Products described are provided under the terms on this site and are subject to regulation and eligibility.