₦airaland Forum

Your annual rent shouldn't exceed your two months salary. If it does, you're in the wrong apartment.

Okay, salary 100k house 150k
Job location, Victoria Island.
House location, Sangotedo, Awoyaya.

Transportation 2k daily=52k

House at igbo efon, agungi, osapa, ilasan and chisco 250-300k
Transport N600 =15k

I don't know but please if you pass mathematics in school you can help

Lol, Lagos people are laughing at this financial standard,
People that collect loan apps and ajo, plus esusu to pay rents.
It's either you collect house in Lagos or you live 6 hours away from your work. These standards only works for a very very few.

My yealy rent is about 22% of my annual income. I live in a 2 bedroom apartment in Alimosho LGA, Lagos. The environment is decent and I look forward to becoming a landlord in the same area. All the other tenants knew somehow that I don't belong among them. Living below your means is possible sometimes but the pressure is high & I wasn't "really comfortable" either. All depends on you & your goals.

Nigeria will humble you..the cheap house you're looking for does not have vacancy in the location where you work, now what do you do? and even the pay for the job can't meet your needs 50%..the system is happening to all of us, that's just the truth.. how many jobs pay over 100k today

IyaTola:
My yealy rent is about 22% of my annual income. I live in a 2 bedroom apartment in Alimosho LGA, Lagos. The environment is decent and I look forward to becoming a landlord in the same area. All the other tenants knew somehow that I don't belong among them. Living below your means is possible sometimes but the pressure is high & I wasn't "really comfortable" either. All depends on you & your goals.

Nigeria will humble you..the cheap house you're looking for does not have vacancy in the location where you work, now what do you do? and even the pay for the job can't meet your needs 50%..the system is happening to all of us, that's just the truth.. how many jobs pay over 100k today

Tru talk

A cheap house/accommodation is synonymous to cheap labour

This rule does not apply in Lagos though.

My annual rent is just 20% of a month salary.

Lol its like working for landlord.
Some areas in abuja and Lagos residents can relate

In Nigeria maybe. Otherwise, your annual rent could be more than 30% of your annual salary out there where you pay about $2k monthly for a room self contain.

I am shocked to even know that peoples rent can be up to 100,000 monthly... you people are ritualist oo. remember those days in the streets of ikpa road, how I'd run to catch up programs in the studio... how much my pay for the both work wey I dey do? 30,000. I could barely feed nor pay transport not to talk of living in Lagos

Your analysis isn't bad. But there are people that spend that for just feeding & transportation to work alone. Especially now that fuel is scarce and transportation fares have increased...

Hmmmm I won't say anything

Mercury12:
Lol its like working for landlord.
Some areas in abuja and Lagos residents can relate

Abuja doesn't have any problem, u can live in Nasarawa and still work in Abuja, Majority of people working in Abuja are living in Niger and Nasarawa... But u will have to leave ur house early in order to beat traffic.

The problem becomes exacerbated due bad transportation systems and inefficiency moving from point a to point b if not, one can comfortably live in ibadan board a speed train or any other efficient transport systems to work without delay to Lagos same day. But you see those recketty busses, those ones go just mk dem sack you first of resumption, no cap.

Mine is 1month on the spot.. Na Woman remain to marry�

It is disheartening when a 10 years old house landlord increase rent like he just finished building it yesterday. I feel you OP.

All these useless standards. Then you spend 4 hours in traffic, sleep deprived, slowly kill your mental and physical health etc. abeg make una rest

Who propound this theory, sef?

With the global inflation inflation, its hard not to live in the wrong apartment.

My rent is just $800 pcm which makes it $9600 per year,
Its a lil above 3months salary. I am in the wrong apartment then

True. Or even 1 and ½ Month. Anything above this is just like working for the Landlord.

L O G I C A L
IF YOU ARE EARNING 200K YOU SHOULD NOT STAY IN A HOUSE THAT COST MORE THAN 400K PER ANNUM

In essence no matter your financial challenge(s) 2 months will still save your roof

By

That's what Tinubu is proposing

SECONDED

DeOTR:
One month actually.

This makes sense too.

One month actually.
I believe you should be able to pay your rent, saving half of your monthly income for two months.

PlayerMeji:
That's what Tinubu is proposing

You are 100% right Sir. ✅️

Oyindamolah:
Your annual rent shouldn't exceed your two months salary. If it does, you're in the wrong apartment.

Abroad, monthly rent can be up to 50% monthly salary. In developed countries like Singapore for example.

Rubyjade:
Okay, salary 100k house 150k
Job location, Victoria Island.
House location, Sangotedo, Awoyaya.

Transportation 2k daily=52k

House at igbo efon, agungi, osapa, ilasan and chisco 250-300k
Transport N600 =15k

I don't know but please if you pass mathematics in school you can help

Transportation should be factored also

This does not always work, especially when the rule is against net income

Facts