Title: Impact Of Socio-Economic Characteristics Of Residents On Residential Property Rental Values In Informal Settlements Of Ibadan Metropolis, Oyo State
Authors: Babatunde Emmanuel Arowolo, Igho Fayomi
Volume: 9
Issue: 4
Pages: 14-21
Publication Date: 2025/04/28
Abstract:
The study explores the relationship between the socio-economic characteristics of residents and the rental values of residential properties in informal settlements within Ibadan Metropolis, Oyo State. It focuses on how factors such as income level, education, household size, and employment status affect rental pricing. The study adopts a descriptive survey design. The study population include registered firms of Estate Surveyors, Valuers and heads of practice or principal partners of in Oyo State. Data were collected from 34 principal partners or heads of practice of registered firms of Estate Surveyors and Valuers in Oyo State using a purposive sampling technique. The data analysis was conducted using both descriptive and inferential statistical methods. The findings reveal significant correlations between residents' socio-economic characteristics and rental values, offering valuable insights for policymakers, estate practitioners, and urban planners in addressing housing challenges in informal settlements.