East Lansing, MI—48823
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — East Lansing, MI
As of Oct '25, the median home price in East Lansing, MI is $313,000, with a year-over-year change of 5.7%. This indicates that home prices in East Lansing, MI are increasing. According to Zillow, the 1-year price projection is 1.4%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $313,000 | 5.7% |
| Single Family | $323,000 | 4.9% |
| Condos | $248,000 | 5.5% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $122,000 | 5.2% |
2 Bed | $214,000 | 5.9% |
3 Bed | $297,000 | 5.3% |
4 Bed | $370,000 | 3.6% |
| 5 Bed | $437,000 | 4.0% |
% of Housing Stock
Rental Trends — East Lansing, MI
As of July '25, Rentcast reports the average rent in East Lansing, MI is $1,640, with a year-over-year rent change of 34.4%. Per bedroom, the median rent as of July '25 in East Lansing, MI is studios: $1,140, 1-bedrooms: $1,080, 2-bedrooms: $1,420, 3-bedrooms: $1,790, 4-bedrooms: $2,500. The most common rental property sizes in East Lansing, MI are 2-bedroom and 1-bedroom, accounting for 38.5% and 25.1% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,350 | $1,640 |
| Studio Rent | $1,020 | $1,140 |
| 1 Bed Rent | $1,010 | $1,080 |
| 2 Bed Rent | $1,300 | $1,420 |
| 3 Bed Rent | $1,700 | $1,790 |
| 4 Bed Rent | $2,500 | $2,500 |
% of Rental Stock
Property Listings — East Lansing, MI
As of Oct '25, Realtor.com reports that the median days on market for a home in East Lansing, MI is 49. This is a increase of 23.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 28.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $330,000 | -2.0% |
Listing Count | 136 | 30.0% |
| Listings as % of Homes | 0.3% | 30.0% |
Days on Market | 49 | 23.0% |
Demographics — East Lansing, MI
As of the latest ACS Survey released in 2023, East Lansing, MI has a population of 49,400, which has decreased by -3.6% over the past 5 years. East Lansing, MI is a less popular place for families, as children make up 13.7% of the population. The area has a highly educated workforce, with 63.8% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 18.9% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 49,400 | -3.6% |
% Under 18 | 13.7% | 16.1% |
% Seniors | 13.2% | 13.8% |
% WFH | 18.9% | 410.8% |
% w/ College Degree | 63.8% | -4.6% |
As of the latest ACS Survey released in 2023, East Lansing, MI is a predominantly white area, with 72.6% of the population identifying as white. The white population has shrunk by 0.7% in the last 5 years. The second most common race or ethnicity in East Lansing, MI is asian, making up 8.9% of the population. Foreign-born residents account for 11.7% of the population in East Lansing, MI, and this percentage has decreased by 25.0% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 72.6% | -0.7% |
% Black | 6.6% | -2.9% |
% Hispanic | 6.0% | 22.4% |
% Asian | 8.9% | -27.6% |
% Foreign Born | 11.7% | -25.0% |
Mortgage and Risk — East Lansing, MI
According to HUD data as of 2023, there were 557 mortgage originations in East Lansing, MI, of which 91.0% of loans were conventional mortgages. The average loan-to-value was 66.0%, with 26.0% above 90% LTV (very high). This implies large mortgage risk in East Lansing, MI. Investor activity is low, as 3.0% of loans were by investors. 8.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 557 |
% Conventional Loans | 91.0% |
% Government Loans | 9.0% |
% Investor Loans | 3.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 8.0% |
Loan Activity
Rentals and Section 8 — East Lansing, MI
As of 2024, the percent of homes in East Lansing, MI under the Section 8 program is 4.4%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. 1-bedroom units appear to be good home sizes to consider for Section 8 housing in East Lansing, MI, because HUD payments exceed market rent, while 2-bedroom and 3-bedroom and 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 526 |
Total Units Section 8 | 526 |
% Rentals under Section 8 | 4.4% |
% Occupied Section 8 | 90.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $10 | $1,010 | $1,020 |
| 2 Bedroom | -$30 | $1,300 | $1,270 |
| 3 Bedroom | -$50 | $1,700 | $1,650 |
| 4 Bedroom | -$820 | $2,500 | $1,680 |
Affordability — East Lansing, MI
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 5.3 |
| Median Home Price | $313,000 |
| Median Household Income | $50,800 |