Cost of Living in Lekki vs Victoria Island (VI), Lagos (2025 Guide)

When it comes to upscale living in Lagos, Lekki and Victoria Island (VI) stand out as two of the most desirable addresses. Both offer proximity to the ocean, major business districts, and luxury experiences.

But for many Lagos professionals, families, and expats, the big question remains:
👉 Which is more affordable — Lekki or VI?

In this 2025 cost of living comparison, we’ll break down the real differences in rent, utilities, groceries, transport, lifestyle, and overall affordability between Lekki and VI. Whether you’re moving for work or considering property investment, this guide will help you make an informed choice.

Housing and Rent Prices

Victoria Island (VI): Premium and Business-Centric

Victoria Island is one of Lagos’s oldest and most prestigious neighborhoods — home to major banks, corporate headquarters, embassies, and luxury hotels.

Average Rent (2025):

• 2-bedroom flat: ₦8–12 million/year
• 3-bedroom apartment: ₦12–18 million/year
• Serviced apartment (short let): ₦1–2 million/month

Most buildings in VI are fully serviced, meaning rent often includes maintenance, power backup, and security — but it also pushes the cost higher.

Ideal for:

• Executives working in Marina, Oniru, or Eko Atlantic.
• Expats seeking convenience and corporate proximity.

Lekki: Modern, Expanding, and More Flexible

Lekki, particularly Phase 1, has transformed into a thriving residential hub with trendy restaurants, coworking spaces, and shopping centers.

Average Rent (2025):

• 2-bedroom apartment: ₦4–7 million/year
• 3-bedroom duplex: ₦6–10 million/year
• Mini-flat: ₦2–3.5 million/year

Rent depends heavily on the estate’s location and amenities. Gated communities like Admiralty Way, Orchid Road, and Ikate offer newer apartments at relatively lower prices than VI.

Ideal for:

• Young professionals and families who want a balance between comfort and affordability.
• Entrepreneurs who work remotely or in Lekki’s growing business ecosystem.

Utilities and Services

Utilities play a major role in Lagos living costs — from power supply to internet and estate maintenance.

Insight:
VI offers better electricity stability and drainage, but residents pay more for maintenance and central services. Lekki’s newer estates enjoy modern layouts but may face higher generator and water costs due to ongoing development.

3. Transportation and Commute

Traffic remains one of Lagos’s biggest challenges.

Victoria Island: Proximity, But Limited Parking

Many professionals in VI walk or take short drives to work. However, limited parking and congestion around Akin Adesola, Adeola Odeku, and Oniru can be frustrating.

• Average monthly fuel cost: ₦50k–₦100k
• Ride-hailing (Bolt/Uber): ₦3,000–₦5,000 per trip
• Parking charges in malls/offices: ₦1,000–₦2,000/day

Lekki: Comfortable Homes, Longer Commutes

While Lekki’s estates are quieter, residents who work in VI or Ikoyi often face rush-hour gridlock via Lekki-Epe Expressway or Admiralty Toll Gate.

• Average monthly fuel cost: ₦80k–₦150k
• Ride-hailing (Lekki–VI): ₦5,000–₦8,000 per trip

Verdict: If your office is in VI or Ikoyi, living in VI might save time and transport cost. If you work remotely or locally, Lekki’s commute won’t affect your budget much.

4. Security and Comfort

Both areas are secure, but their setups differ:

• VI: Corporate security presence, patrols, and embassy zones.
• Lekki: Private estate security systems with gated access.

Flooding remains a concern in both areas, though Lekki’s drainage is improving with ongoing government upgrades.

5. Overall Cost Comparison

🧠 Key Takeaway:

• Lekki: Ideal for young professionals, entrepreneurs, and families who want comfort and space at a lower cost.
• Victoria Island: Perfect for executives, expats, and business owners who prioritize proximity, prestige, and convenience.

6. Investment Perspective

From a property investment view:

VI has limited new land, meaning property values remain high and stable — great for short-term rental or corporate lease investments.

Lekki continues to expand eastward, making it a growth zone for mid- to long-term ROI.

Conclusion: Which is Better for You?

If your goal is affordable luxury with room to grow, Lekki offers better flexibility, newer housing, and lifestyle balance.
If your focus is prestige, convenience, and business access, VI justifies its higher price tag.

At the end of the day, your choice depends on your budget, career stage, and daily routine. But both areas reflect the best of modern Lagos living.