Assessment of the Determinants of Housing Rental Values in Birnin Kebbi Metropolis, Kebbi State, Nigeria

Abstract

Rental housing plays an important role in the provision of affordable housing at the global and local level. Housing is an important component of human settlement that contributes to the quality of life, health, welfare as well as productivity of man. This study assessed the determinants of housing rental values in Birnin Kebbi metropolis, Nigeria with a view to identifying the socio-economic characteristics of tenants and identify the factors influencing the value of rental housing in Birnin Kebbi. The study adopted the use of mixed research design. Data were collected through questionnaire and interview survey from 322 respondents, which were randomly selected from the target population in the study area. Apart from the questionnaire, Key Informant Interview (KII) was conducted with local estate agents. The data collected were subjected to analysis using descriptive and inferential statistics with frequency distribution tables and multiple regression analysis to determine factors influencing rental housing values. The multiple regression model revealed that locational, structural, security, and neighbourhood characteristics significantly influenced rental values, with R = 0.586, R² = 0.343, at p < 0.001. Among the predictors, neighbourhood characteristics has the highest influence (β = 0.244, p < 0.001), followed by structural (β = 0.187, p = 0.001) and security characteristics (β = 0.181, p = 0.002), while locational characteristics showed a weaker but significant effect (β = 0.080, p = 0.002). The study concludes that neighbourhood characteristics, structural features, security factor and locational factors collectively determine rental housing values in Birnin Kebbi metropolis. The study concludes that neighbourhood quality, structural features, security environment and locational factors collectively determine rental housing values in Birnin Kebbi. It is recommended that property developers should consider the provision of affordable housing units. Government should improve vicinity characteristics through facilities upgrade in the low quality areas to ensure high property value in the study area.