Lagos
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Annual revenue (actual)
₦11.1m
12 mo avg
↓17%
from prior 12 mo
Occupancy rate
25%
12 mo avg
↓7%
from prior 12 mo
Avg daily rate
₦121,603
12 mo avg
↑10%
from prior 12 mo
Lead time
17 days
12 mo avg
↓1 days
from prior 12 mo
Revpar
₦24,187
12 mo avg
↓27%
from prior 12 mo
Methodology note: Figures reflect Lagos market data as of October 2026. Data covers Airbnb, VRBO, and Booking.com listings. Values are seasonally influenced; rounding applied for readability.
Revenue per listing by bedroom
Annual revenue per listing, broken down by bedroom count. Compare which property sizes perform best.
Bedroom count:
0
1
2
3
4+
Short-term rental supply growth
Tracks how the number of active listings changes over time. Rising supply with flat revenue may indicate saturation.
Performance metrics by bedroom
Breakdown of revenue, property values, yields, supply, and cleaning fees for each bedroom type.
Bedrooms
Annual Rev
Supply
Revenue boost by amenity
Shows how specific amenities impact revenue. Beware false correlation i.e. more expensive properties tend to have pools or views.
| Amenity | Listings With | Revenue Boost | Revenue With | Revenue Without |
|---|---|---|---|---|
| Hot Tub | — | +₦16,215,938 | — | — |
| Pool | 🔒 2•• (••%) | 🔒 +₦1••••••• (+•••%) | 🔒 ₦3••••••• | 🔒 ₦1••••••• |
| Parking | 🔒 6•• (••%) | 🔒 +₦7•••••• (+••%) | 🔒 ₦2••••••• | 🔒 ₦1••••••• |
| Gym | 🔒 1•• (••%) | 🔒 +₦6•••••• (+••%) | 🔒 ₦2••••••• | 🔒 ₦2••••••• |
| Lake Access | 🔒 2• (•%) | 🔒 +₦5•••••• (+••%) | 🔒 ₦2••••••• | 🔒 ₦2••••••• |
| Heating | 🔒 2•• (••%) | 🔒 +₦5•••••• (+••%) | 🔒 ₦2••••••• | 🔒 ₦2••••••• |
| Internet | 🔒 6•• (••%) | 🔒 +₦4•••••• (+••%) | 🔒 ₦2••••••• | 🔒 ₦1••••••• |
| Bicycles | 🔒 1• (•%) | 🔒 +₦1•••••• (+•%) | 🔒 ₦2••••••• | 🔒 ₦2••••••• |
Nightly rate by day of week
Average nightly rate for each day of the week. Most markets see higher rates on weekends.
Occupancy rate by day of week
Shows booking patterns throughout the week. Helps understand demand cycles.
Listings by channel
Listings by rental type
Listings by amenities
Listings by size
4+ bedrooms (0%)
Listings by availability
Length of stay by bedroom
4+ bedrooms (14.2 nights)
2 bedrooms (11.7 nights)
3 bedrooms (9.1 nights)
1 bedroom (7.9 nights)
Studio (7.2 nights)
Cleaning fee by bedroom
4+ bedrooms (NGN 46)
2 bedrooms (NGN 34)
3 bedrooms (NGN 31)
1 bedroom (NGN 18)
Studio (NGN 0)
Professional host share
Professionally managed (63%)
Independent hosts (37%)
Over the 12 months ending September 2026, the Lagos market averaged 3,584 active Airbnb and VRBO listings, up 12% from a year earlier and up 61% over two years.
An average Lagos listing earns NGN6.1M/year. High-performing listings earn NGN27.1M, while low-performing listings earn NGN1.9M.
Average occupancy in Lagos is 13%, producing RevPAR of NGN14K per available night.
4+ bedroom listings generate the highest average annual revenue in Lagos, at NGN9.1M.
Rules vary across Lagos. Lagos: Lenient. No formal STR regulations or licensing system. Operates in regulatory gray area. Minimal government oversight or enforcement. Lekki: Lenient. Falls under Lagos jurisdiction, no specific STR permits required. Informal market dominates. Virtually no enforcement despite occasional security concerns. Victoria Island: Lenient. Part of Lagos, no dedicated STR framework. High-end rentals operate freely without registration. Enforcement practically non-existent despite commercial activity. Verify requirements for the property's jurisdiction.
The Lagos Airbnb and VRBO market is becoming more competitive. Supply has grown 12% year-over-year, while RevPAR has decreased 13%, suggesting supply is outpacing demand.
RevPAR is highest in December and January; it is lowest in March and February.
The most common amenities are Air Conditioning (100%), TV (100%), Internet (99%). The strongest positive revenue associations are Hot Tub (+74%), Washing Machine (+64%), Pool (+56%).
Average daily rate in Lagos is NGN144K, up 9% year-over-year. Rates peak in December and are lowest in March.
Guests in Lagos book an average of 18 days in advance, down 3% from last year. Booking windows range from 15 days for 1-bedroom listings to 23 days for 4+ bedroom listings.
Booking demand is highest on Saturday and lowest on Monday. Nightly rates peak on Friday and are lowest on Monday. Weekend occupancy is 9% higher than weekday occupancy.
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