Is Victoria Island or Ikoyi cheaper in Lagos?

Ikoyi is approximately 4% cheaper than Victoria Island in Lagos, based on rent and local cost-of-living multipliers.

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

Estimated 1-bedroom rent in Victoria Island is ₦1,280,873/month, compared to ₦1,233,434/month in Ikoyi.

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

Victoria Island has a cost multiplier of 1.35x and Ikoyi has 1.30x relative to the Lagos average. Higher multipliers mean higher living costs in that neighborhood.

What salary do I need in Victoria Island vs Ikoyi?

A $75,000 USD salary is equivalent to approximately ₦43,763,178 in Victoria Island and ₦42,102,786 in Ikoyi, after adjusting for neighborhood-level cost of living in Lagos.

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

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

Victoria Island vs Ikoyi

Neighborhood comparison in Lagos, Nigeria

Victoria Island

36.9

COLI Index

More Expensive

Ikoyi

35.5

COLI Index

More Affordable

Side-by-Side Comparison

1.35x

Victoria Island Multiplier

1.30x

Ikoyi Multiplier

₦1,280,873

Est. 1BR Rent

₦1,233,434

Est. 1BR Rent

₦43,763,178

$75K Equivalent

₦42,102,786

$75K Equivalent

Cost Comparison

Victoria Island

1.35x

Ikoyi

1.30x

Victoria Island is 4% more expensive than Ikoyi within Lagos. Living in Ikoyi instead of Victoria 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.