Research Article

Analysis of changes in residential rental values across selected residential density zones in Akure, Nigeria

Omolara Ehikhuemen1*, David N. MBAZOR2, Olusola J. ADEBIYI1
1 Department of Estate Management, School of Environmental Technology, Federal University of Technology Akure, Nigeria
2 Department of Estate Management, School of Environmental Technology, Federal University of Technology Akure, Nigeria/Department of Civil Engineering, Faculty of Engineering, Built Environment and Information Technology, Walter Sisulu University, East Lond
* Corresponding author: fadipelara@gmail.com
Published: Jul, 2026
DOI: 10.66884/kesj.2026.3y0v2y4j
Pages: 1-13
Views: 54
Downloads: 23

Abstract

Purpose: This study analysed changes in residential rental values across selected residential density zones in Akure, Nigeria, between 2004 and 2024. The study examined rental value trends within low-, medium- and high-density residential neighbourhoods and evaluated variations in rental growth patterns among selected residential property types within the study area. Design/Methodology/Approach: Primary data were obtained through structured questionnaires administered to 25 practising Estate Surveyors and Valuers operating within the Akure metropolis. 19 were retrieved and deemed suitable for analysis, representing a response rate of 76%. Descriptive statistical techniques such as tables, trend analysis and percentages were used for data analysis. Findings: Residential rental values increased steadily across all density zones during the study period. In the low-density neighbourhoods, 4-bedroom duplexes recorded the highest growth, increasing from ₦108,333 in 2004 to ₦1,861,052 in 2024. In the medium-density areas, the rental value of 3-bedroom flats increased from ₦35,631 to ₦273,789, while self-contained apartments in the high-density neighbourhoods rose from ₦12,026 to ₦78,473. Rental growth soared after 2018 across most property categories. Research Limitations/Implications: The study was limited to selected residential density zones within Akure and relied primarily on responses from practising Estate Surveyors and Valuers. The relatively small sample size may restrict the generalisation of the findings beyond the study area. Nevertheless, the study contributes empirical evidence on long-term residential rental value trends within urban residential neighbourhoods in Nigeria. Practical Implications: Results showed that residential rental values in Akure have witnessed significant changes over the past two decades due to urban expansion, changes in socio economic conditions and increasing housing demands. The study recommended the expansion of housing infrastructure, increased investment in affordable housing, and the formulation of strategic urban policies. Originality/Value: The study provides empirical evidence on long-term residential rental value changes across different residential density zones in Akure,

Keywords

Akure Rental values Housing demand Residential density zones Urbanization

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How to Cite

Ehikhuemen, O., MBAZOR, D. N., & ADEBIYI, O. J. (2026). Analysis of changes in residential rental values across selected residential density zones in Akure, Nigeria. Kaduna State University Environmental Sciences Journal, 6(2), 1-13. https://doi.org/10.66884/kesj.2026.3y0v2y4j

O. Ehikhuemen, D. N. MBAZOR, and O. J. ADEBIYI, "Analysis of changes in residential rental values across selected residential density zones in Akure, Nigeria," Kaduna State University Environmental Sciences Journal, vol. 6, no. 2, pp. 1-13, July 2026. doi: 10.66884/kesj.2026.3y0v2y4j

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