The Average Cost of Renting a House in Abuja

The Average Cost of Renting a House in Abuja

Abuja is the capital city of Nigeria and thus prone to attract large number of residents. Both Nigerians and foreigners prefer to live in this city due to the fact that it is the capital of Africa’s most populous country. But while many people are moving to this city, it is important to be aware of the cost of renting a house in Abuja. This concern forms the basis of discussion where the average cost of renting a house here will be mentioned. The factors that contribute to the cost of renting a house in Abuja will also be discussed.

Expensive Nature of Abuja

It is worth noting that Abuja is the 4^th most expensive city in Africa. The high cost of living in Abuja makes this city to be among the most expensive in the world. This fact will guide us on estimating the average cost of renting a house in Abuja.

What is the Average Cost of Renting a House in Abuja?

The average cost of a well maintained 4 bedroom house in a decent estate in Abuja is estimated at around 3,500,000 per annum. This is just the average cost of a normal house in Abuja. As mentioned earlier on, the cost of renting a house in Abuja is based on a number of factors. These factors will be discussed to show how we arrived at the average cost of renting a house in Abuja.

Factors that Contribute to the Cost of Renting a House in Abuja

• Estate

The leading factor that contributes to the cost of renting a house in Abuja is the estate in which the house is located. Abuja is a large city with different estates in which you can reside. All these estates have different rates. Some of the best estates in Abuja where the cost of renting a house is high include;

• Asokoro District: this is an exclusive location to live in Abuja. The exclusivity makes it one of the most expensive places to live. The average rent for a 2 bedroom apartment is N4 million.
• Maitama District: Maitama is a destination mostly for diplomats, ministers and government’s big shots. The average cost of a 2 bedroom apartment is N3 million.
• Gwarinpa: the upper class and middle class find this to their finest destination. Gwarinpa is also the largest housing estate in West Africa. There are varying costs of renting houses ranging from N2 to N4 for 2 bedroom apartment.
• Wuse 2: this location has the best restaurants and other hospitality centers in Abuja. This makes it to be an expensive location with the average rent estimated at N3 million annually.

 

• Access to Infrastructural and Social Amenities

Another determining factor that influences the rent of a house in Abuja is access to social amenities and the infrastructure in the estate. Needless to say, an estate with good infrastructure and social amenities will be highly priced.

Basically, the neighborhood in which you live will end up in determining the cost of renting a house.you can also now read more about some of the best top schools in lagos Abuja