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🏠 Cost of Living in Ikoyi

Total monthly cost for a family of 4 (mid-tier lifestyle)

₦2,454,167/month
₦29,450,004/year
1

Where do you live?

2

Your household

Household size
Lifestyle tier
3

Your commute

Work location
Commute mode
4

Domestic staff (optional)(optional)

Your monthly cost of living in Ikoyi
₦2.48M
₦29,766,804/year
= 35.4× the minimum wage (₦70,000)
= 7.3× the national average salary (₦339,000)
🏠 Rent
₦1,666,667
67%
🍚 Food
₦300,000
12%
⚡ Power
₦200,000
8%
🚌 Transport
₦26,400
1%
💧 Water
₦112,500
5%
👩‍👧 Domestic Staff
₦160,000
6%
📱 Internet/Data
₦15,000
1%
TOTAL
₦2,480,567
100%

🆚 Compare with another neighborhood

Compare with:
Ikoyi
₦2.48M
/month
Yaba
₦916K
/month
Saving by living in Yaba — Annual difference: ₦18.8M
Lagos.Cool Editorial
4 June 2026 · 2 min read

Cost of Living in Ikoyi

Ikoyi runs ₦2.5M-₦3M/month for a 2-bed family setup. The premium reflects established infrastructure, Band A power, and proximity to Lagos's old-money social institutions. Hidden cost: brackish groundwater forces tanker delivery (₦90K-₦135K/month) on top of estate service charges.

🔗 Related guides

🏠 Rent in Ikoyi→💧 Water in Ikoyi→🚌 Commuting from Ikoyi→👩‍🍼 Domestic staff prices in Ikoyi→

FAQ

A family of 4 living in Ikoyi at a mid-tier lifestyle spends approximately ₦2,454,167/month (₦29,450,004/year), broken down into rent, food, power, transport, water, and (optional) staff.
Cost of Living in Ikoyi 2026 : ₦2,454,167/month