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Housing as a necessity of life, is adjudged to be the third most important need of man after food and clothing. Financing residential housing requires a lot of commitment, dedication and financial sacrifice especially, by the urban dwellers who cannot access mortgage facilities for home ownership. This study focuses on peculiar local methods used by the poor in financing residential houses in Akure, Nigeria. The study obtained data through the administration of 1050 questionnaire copies out of which 989 (94.2%) were retrieved. The households were selected using stratified proportionate and systematic random techniques from four (4) out of the eleven (11) Private Residential Corridors (PRDCs) officially approved in Akure. The study revealed that; most house owners in the area depended mainly on personal savings and local methods like spouse support, family support and even labour exchange to finance the construction of their various houses. With the official average Naira to US Dollar exchange rate of N400 to US Dollar in year 2021, findings showed that; the total cost of most of the houses built in Akure were between the N2,000,000 ($5,000) and N5,000,000 ($12,500) with only few above that range which were built progressively over a long period of time due to cash in-flow limitation. The study canvassed the payment of living wages to workers, so as to empower them to save more money to build. It suggested site and services scheme to improve the quality of environment, where houses are built.

Keywords: Akure; Construction; Financing; Peculiar methods; Residential housing