Akure's Rising Rents Push Residents to Cheaper Areas

Rising house rents in Akure, the Ondo State capital, are compelling low-income residents to move to neighboring communities where accommodation is more affordable. Annual rents in Akure vary widely, with some apartments costing over N1 million.

For instance, in Oba-Ile, a single-room self-contained apartment ranges from N300,000 to N500,000, while a room-and-parlour self-contained apartment costs between N450,000 and N700,000. In Alagbaka, rents for similar apartments exceed N500,000.

Residents express that the increasing costs are unbearable; for example, Mrs Adelegan relocated to Akungba-Akoko after her husband's death due to financial constraints. Imisi Ayolomo reported a rent increase from N400,000 to N900,000, which was later reduced to N700,000 after tenant appeals.

Opeyemi Alani, despite being able to afford N1.2 million for his two-bedroom apartment, criticized the excessive costs in light of the economic situation in Ondo State.