Traditional market space in a multi-ethnic neighborhood offers various degrees of activities such as a place to earn livings, recreates to make socio-cultural contact, religion among others. Misconstruing of the meanings and significance of the marketplace in a multi-ethnic area is often time associated with prejudices and conflicts among diverse users. Hence, mitigating the associated challenges with the market space calls for appropriate perceptions of market space intending to establish strong relationships between the people and their environment. Limited research has focused on the perceptual attributes and the significance of Ijebu-jesa, Ijedaijesa, and Iloko traditional market spaces in multi-ethnic neighborhoods of Nigeria. Hence, this study aims at documenting the diverse opinions and views of people in the traditional markets as sustainable development of public space in south-west Nigeria. This research provides answers to the following questions: (i) what are the diverse meanings ascribed to traditional market spaces as viewed by different groups? (ii) What are the significances of the traditional market in the Nigerian context? The research objectives were to better understand the significance and meanings of the traditional market place as a domain of social-cultural integration in Nigeria. The study's exploration strategies embrace both the one-way analysis of variance and focus group deliberation to tactically deal with the perspectives and assessments of the public space users. The findings reveal the traditional market as a place of cultural inheritance, the social arena for users, and an esthetically oriented zone, as supported by the hypothesis testing where significance p ≤ .05. Contrary to the findings was the non-significance values of p ≥ .05 in economic and religious perceptions ascribed. Conclusively, perceptual evaluations of public space enhance peoples' engagement and interactions among diverse groups, individuals, and families which further consolidate a greater users' sense of mutual obligation and enriching communal livability. The research implications broaden the conceptualization of Nigerians' perception in the marketplace as a practical consideration that favors designers' decisions in mitigating prejudices and promoting social networks.