A recent analysis by Fortren & Company has revealed that Accra is the third most expensive city in Africa to rent a high-end two-bedroom apartment. The average annual rent in Accra is $26,299, which translates to approximately $2,192 per month. This ranking is part of a broader study that examined the rental markets in 10 major African cities. The study focused on high-end and mid-market neighborhoods, providing insights into the continent's housing landscape.
The top 10 list of most expensive cities to rent a 2-bedroom apartment in Africa is led by Abidjan, Côte d'Ivoire, with an average annual rent of $41,671. Cape Town, South Africa, ranks second at $27,138 per year. Accra's ranking ahead of Lagos, Nigeria, which has an average annual rent of $19,379, highlights the varying costs of living across the continent. These figures are based on data from 2026 and reflect the current state of Africa's rental markets.
Fortren & Company's research highlights the significant housing pressures across Africa. The continent faces a housing deficit of over 53 million units, with home ownership rates below 40%. As more people move to cities for work and other opportunities, the demand for housing continues to outstrip available rental supply. This has led to increased pressure on landlords and tenants alike.
The study also notes that tenants in Africa often face significant upfront costs when renting a property. In many countries, including Ghana, Nigeria, Sierra Leone, and Cameroon, landlords commonly request one or two years' rent upfront. Additionally, agency fees, deposits, legal charges, and service costs can further increase the amount needed to secure a property.
In Accra, the high-end rental market is concentrated in areas such as Cantonments, East Legon, and Airport Residential Area. These neighborhoods experience strong demand from multinational companies, diplomatic missions, NGOs, and high-income tenants. The limited supply of high-end properties in these areas contributes to the city's high ranking on the list.
The ranking of cities by average annual rent is as follows: Abidjan, Côte d'Ivoire ($41,671); Cape Town, South Africa ($27,138); Accra, Ghana ($26,299); Lagos, Nigeria ($19,379); Casablanca, Morocco ($15,813); Kigali, Rwanda ($15,633); Dar es Salaam, Tanzania ($15,110); Douala, Cameroon ($14,705); Cairo, Egypt ($13,899); and Nairobi, Kenya ($10,700).
The findings of Fortren & Company's study underscore the need for increased investment in Africa's housing sector. With a growing population and urbanization, addressing the housing deficit will be crucial to ensuring affordable and sustainable living options for residents across the continent. The study's results provide valuable insights for policymakers, developers, and individuals seeking to understand the complexities of Africa's rental markets.
Key points
- Accra ranks third in Africa's most expensive cities to rent a 2-bedroom apartment.
- The continent faces a housing deficit of over 53 million units.
- Tenants in Africa often face significant upfront costs when renting a property.
