Soaring House Rents Force Ondo Residents Out Of Akure

Rising house rents in Akure, the Ondo State capital, are forcing some residents, particularly low-income earners, to relocate to the neighbouring communities and their hometowns where accommodation is relatively cheaper.

The development has heightened concerns about the rising cost of accommodation, with tenants struggling to cope with rising rents amid high food prices and other expenses.

Findings by LEADERSHIP showed that annual rents vary significantly across neighbourhoods in Akure, with some apartments going for over N1 million, depending on their location, size and available facilities.

In Oba-Ile, a single-room self-contained apartment goes for between N300,000 and N500,000 annually, while a room-and-parlour self-contained apartment costs between N450,000 and N700,000.

In Alagbaka, annual rent for a single-room self-contained apartment exceeds N500,000, while a room-and-parlour apartment costs about N700,000. A two-bedroom flat goes for between N900,000 and over N1 million.

Similarly, in Ijapo, tenants pay between N400,000 and N500,000 annually for a room-and-parlour apartment, while a two-bedroom flat costs between N700,000 and N800,000.

For some residents, the rising cost of accommodation has become unbearable, forcing them to consider leaving the state capital.

A former resident of Akure, Mrs Adelegan, said she relocated to Akungba-Akoko following the death of her husband because she could not afford the family’s accommodation expenses.

‎”After the death of my husband, I could not afford to pay our rent because I am just a petty trader selling fish. With four children, my fish business alone cannot cover food, school fees, and rent.

‎”So, I had to relocate to my paternal community in Akungba-Akoko, where house rent is much cheaper than in Akure,” she said.

‎A resident of Oba-Ile, Imisi Ayolomo, told LEADERSHIP that his landlord increased the annual rent for his room-and-parlour apartment from N400,000 to N900,000 before reducing it to N700,000 following appeals from him and other tenants.

‎He said the increase had worsened the financial pressure on his household, adding that he was considering relocating to Owo, his hometown, because accommodation was more affordable there.

‎”We are still struggling with how expensive foodstuffs are, and now we have to add rent to the struggle. I am seriously considering relocating to my town in Owo once my wife agrees,” he said.

‎A businessman residing in Alagbaka, Opeyemi Alani, said that although he could afford the N1.2 million annual rent he paid for his two-bedroom apartment, he considered the amount excessive given the state’s economic realities.

‎Alani, who said he was attracted to the apartment’s serene environment and basic facilities, questioned how low-income earners could afford such accommodation costs.

‎”Although I can comfortably afford the rent, I still believe it is too expensive because very few people can afford it. What about those who cannot?

‎”Ondo is a civil servant state, and the majority of its residents are civil servants, artisans and petty traders. House rent should not be as expensive as it is in states with several industries,” he said.

‎A landlord, who identified himself simply as Kehinde, attributed the rising rents partly to the increasing cost of living, saying landlords also needed to meet their financial obligations.

‎”It’s not our fault that house rents are expensive. Most landlords depend on rent for income, and we all know how expensive food is now. I believe that is why there is also an increase in house rent, so that the money will be enough to sustain us for the year,” he said.

‎However, he appealed to landlords to be considerate of tenants and explore other sources of income rather than depending solely on rental payments.