The quantitative and qualitative housing challenges especially among the middle and low income groups in
Nigeria have continued to constitute a source of concern to all. Over the years, different studies have
examined the situation and attributed the problem to the inability of government to provide housing enmasse,
lack of access to capital, low income and high costs of procurement of available ones. This study
advances knowledge by focussing on renters and taking a closer look at the overall cost of rental housing
and its effect on renter to owner’s efforts. Renters’ population is on the increase in major urban centres with
reduced capacity for home acquisition. This study examines household spending pattern, identifies other
costs incidental to rental housing consumption and how they affect renters’ home acquisition drives’.
Questionnaires were administered to 750 renters randomly selected from three local government areas in
Lagos State. Data collected were subsequently analysed with descriptive tools such as tables, percentages,
relative importance index and a 5-point likert scale. It was discovered that apart from rent, other costs
incidental to rental housing consumption significantly reduces renters’ savings capacity. The study therefore
suggests that these other costs be examined critically and treated appropriately. They could be stabilised,
subsidized, eradicated or totally shouldered by the government