Is Banana Island or Agege cheaper in Lagos?

Agege is approximately 55% cheaper than Banana Island in Lagos, based on rent and local cost-of-living multipliers.

What is the rent difference between Banana Island and Agege in Lagos?

Estimated 1-bedroom rent in Banana Island is ₦1,375,753/month, compared to ₦616,717/month in Agege.

What are the cost-of-living multipliers for Banana Island and Agege?

Banana Island has a cost multiplier of 1.45x and Agege has 0.65x relative to the Lagos average. Higher multipliers mean higher living costs in that neighborhood.

What salary do I need in Banana Island vs Agege?

A $75,000 USD salary is equivalent to approximately ₦46,965,361 in Banana Island and ₦20,992,093 in Agege, after adjusting for neighborhood-level cost of living in Lagos.

How do I compare the cost of living between Banana Island and Agege?

Use the salary converter at salary-converter.com to compare Banana Island and Agege in Lagos. The tool accounts for rent, groceries, transport, utilities, healthcare, and tax differences at the neighborhood level.

Banana Island vs Agege

Neighborhood comparison in Lagos, Nigeria

Banana Island

39.6

COLI Index

More Expensive

Agege

17.7

COLI Index

More Affordable

Side-by-Side Comparison

1.45x

Banana Island Multiplier

0.65x

Agege Multiplier

₦1,375,753

Est. 1BR Rent

₦616,717

Est. 1BR Rent

₦46,965,361

$75K Equivalent

₦20,992,093

$75K Equivalent

Cost Comparison

Banana Island

1.45x

Agege

0.65x

Banana Island is 55% more expensive than Agege within Lagos. Living in Agege instead of Banana Island could save you significantly on rent and daily expenses.

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More Comparisons in Lagos

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Data Sources: Cost of living data from Numbeo · Expatistan. Rent from Numbeo Property Prices. Tax rates from OECD Taxing Wages. Salary data from BLS · Glassdoor. Exchange rates from the ECB. Updated 2026-02-28. All figures are estimates.