Is Banana Island or Victoria Island cheaper in Lagos?

Victoria Island is approximately 7% cheaper than Banana Island in Lagos, based on rent and local cost-of-living multipliers.

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

Estimated 1-bedroom rent in Banana Island is ₦1,375,753/month, compared to ₦1,280,873/month in Victoria Island.

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

Banana Island has a cost multiplier of 1.45x and Victoria Island has 1.35x relative to the Lagos average. Higher multipliers mean higher living costs in that neighborhood.

What salary do I need in Banana Island vs Victoria Island?

A $75,000 USD salary is equivalent to approximately ₦46,965,361 in Banana Island and ₦43,763,178 in Victoria Island, after adjusting for neighborhood-level cost of living in Lagos.

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

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

Banana Island vs Victoria Island

Neighborhood comparison in Lagos, Nigeria

Banana Island

39.6

COLI Index

More Expensive

Victoria Island

36.9

COLI Index

More Affordable

Side-by-Side Comparison

1.45x

Banana Island Multiplier

1.35x

Victoria Island Multiplier

₦1,375,753

Est. 1BR Rent

₦1,280,873

Est. 1BR Rent

₦46,965,361

$75K Equivalent

₦43,763,178

$75K Equivalent

Cost Comparison

Banana Island

1.45x

Victoria Island

1.35x

Banana Island is 7% more expensive than Victoria Island within Lagos. Living in Victoria Island instead of Banana Island could save you significantly on rent and daily expenses.

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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.