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🏠 Cost of Living in Magodo Phase 2

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

₦942,500/month
₦11,310,000/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 Magodo Phase 2
₦969K
₦11,626,800/year
= 13.8× the minimum wage (₦70,000)
= 2.9× the national average salary (₦339,000)
🏠 Rent
₦312,500
32%
🍚 Food
₦300,000
31%
⚡ Power
₦200,000
21%
🚌 Transport
₦26,400
3%
💧 Water
₦17,500
2%
👩‍👧 Domestic Staff
₦97,500
10%
📱 Internet/Data
₦15,000
2%
TOTAL
₦968,900
100%

🆚 Compare with another neighborhood

Compare with:
Magodo Phase 2
₦969K
/month
Yaba
₦916K
/month
Saving by living in Yaba — Annual difference: ₦635.6K
Lagos.Cool Editorial
4 June 2026 · 2 min read

Cost of Living in Magodo Phase 2

Magodo Phase 2 (₦950K-₦1.1M/month) is the family-suburb pick: spacious houses with gardens, Band B power, and quiet GRA streets. The cost is closer to Ikeja GRA than to deeper mainland because you're paying for square footage and security.

🔗 Related guides

🏠 Rent in Magodo Phase 2→💧 Water in Magodo Phase 2→🚌 Commuting from Magodo Phase 2→👩‍🍼 Domestic staff prices in Magodo Phase 2→

FAQ

A family of 4 living in Magodo Phase 2 at a mid-tier lifestyle spends approximately ₦942,500/month (₦11,310,000/year), broken down into rent, food, power, transport, water, and (optional) staff.