How Much Income Do You Need to Rent an Apartment in Accra?

Accra is one of the most expensive cities in Ghana when it comes to renting an apartment. Whether you're a local resident or an expatriate moving to the city, understanding the income needed to afford housing is crucial. In this guide, we’ll explore rental price trends in Accra, how much of your salary should go toward rent, and practical budgeting tips to help you secure the right apartment within your means.

Average Rent Prices in Accra

Rental prices in Accra vary depending on location, apartment size, and amenities. Below is an estimate of monthly rent prices in different areas:

• Luxury Areas (Cantonments, Airport Residential, Labone, East Legon)

  • 1-bedroom apartment: $700 – $1,500
  • 2-bedroom apartment: $1,500 – $3,000

• Mid-Range Areas (Osu, Achimota, Adenta, Spintex, Tesano)

  • 1-bedroom apartment: $300 – $700
  • 2-bedroom apartment: $600 – $1,200

• Budget-Friendly Areas (Madina, Kasoa, Dansoman, Ashaley Botwe, Teshie)

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  • 1-bedroom apartment: $150 – $400
  • 2-bedroom apartment: $300 – $700

How Much Should You Earn to Afford Rent in Accra?

A common rule of thumb is to spend no more than 30-40% of your monthly income on rent. Using this guideline, here’s how much you’d need to earn monthly:

If you’re earning GHS 10,000 ($850) per month, you should ideally look for rent that costs GHS 3,000 ($250) or less to maintain a balanced budget.

Factors Affecting Affordability

1. Location Matters

Living in premium areas like Cantonments or Airport Residential requires a higher income. If your budget is tight, consider mid-range areas like Achimota, Adenta, or Spintex for more affordable options.

2. Hidden Costs Beyond Rent

Besides rent, consider:

• Utility bills (water, electricity, internet) – GHS 500 – GHS 1,500 ($40 – $125) per month
• Service charges (for gated communities/apartments) – GHS 500 – GHS 2,000 ($40 – $165)
• Transportation costs – If you live far from work, commuting can add significant expenses.

3. Upfront Costs

Most landlords require 1-2 years' rent upfront, which can be a major financial burden. However, some properties now offer flexible payment terms or monthly rent options.

Budgeting Tips for Renting in Accra

1. Stick to the 30-40% Income Rule – Avoid financial strain by choosing an apartment within your salary range.
2. Consider Shared Housing – If rent is too high, consider co-living or shared apartments to reduce costs.
3. Negotiate Rent & Payment Terms – Some landlords may offer discounts for upfront bulk payments.
4. Explore Alternative Locations – Living slightly outside central Accra can save you money.
5. Use Apartments.com.gh – Search for listings within your budget and get the best deals.

How Apartments.com.gh Can Help

Finding a rental within your budget in Accra is easier with Apartments.com.gh. Our platform offers:
✅ A wide range of verified listings across Accra
✅ Filters to search by budget, location, and amenities
✅ Direct contact with landlords & agents
✅ Flexible payment plan options

Visit Apartments.com.gh today and find your ideal apartment hassle-free!

Conclusion

Renting an apartment in Accra requires careful financial planning. Understanding rental costs, income requirements, and budgeting tips will help you secure a home that fits your financial situation. Whether you’re looking for luxury or affordable housing, Apartments.com.gh has you covered. Start your search today and find a place that suits your lifestyle and budget!