Lansing, MI—48906
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Lansing, MI
As of Oct '25, the median home price in Lansing, MI is $161,000, with a year-over-year change of 1.1%. This indicates that home prices in Lansing, MI are increasing. According to Zillow, the 1-year price projection is 1.8%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $161,000 | 1.1% |
| Single Family | $159,000 | 1.9% |
| Condos | $217,000 | -0.9% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $77,000 | -8.3% |
2 Bed | $113,000 | 0.0% |
3 Bed | $194,000 | 2.6% |
4 Bed | $252,000 | 2.0% |
| 5 Bed | $286,000 | 2.9% |
% of Housing Stock
Rental Trends — Lansing, MI
As of July '25, Rentcast reports the average rent in Lansing, MI is $1,060, with a year-over-year rent change of -9.4%. Per bedroom, the median rent as of July '25 in Lansing, MI is studios: $800, 1-bedrooms: $856, 2-bedrooms: $1,080, 3-bedrooms: $1,400, 4-bedrooms: $1,800. The most common rental property sizes in Lansing, MI are 2-bedroom and 3-bedroom, accounting for 45.3% and 21.7% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $950 | $1,060 |
| Studio Rent | $800 | $800 |
| 1 Bed Rent | $800 | $856 |
| 2 Bed Rent | $999 | $1,080 |
| 3 Bed Rent | $1,430 | $1,400 |
| 4 Bed Rent | $1,800 | $1,800 |
% of Rental Stock
Property Listings — Lansing, MI
As of Oct '25, Realtor.com reports that the median days on market for a home in Lansing, MI is 34. This is a decrease of -4.0% from last year, suggesting that homes are sitting on the market shorter than last year. The percentage of listed homes with a reduced price is 38.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $168,000 | 7.0% |
Listing Count | 94 | -5.0% |
| Listings as % of Homes | 0.6% | -5.0% |
Days on Market | 34 | -4.0% |
Demographics — Lansing, MI
As of the latest ACS Survey released in 2023, Lansing, MI has a population of 26,000, which has remained stable by -0.5% over the past 5 years. Lansing, MI is a moderately popular place for families, as children make up 23.8% of the population. The area has a moderately educated workforce, with 28.8% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 14.1% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 26,000 | -0.5% |
% Under 18 | 23.8% | -7.8% |
% Seniors | 14.8% | 11.3% |
% WFH | 14.1% | 422.2% |
% w/ College Degree | 28.8% | 29.7% |
As of the latest ACS Survey released in 2023, Lansing, MI is a predominantly white area, with 63.9% of the population identifying as white. The white population has grown by 2.6% in the last 5 years. The second most common race or ethnicity in Lansing, MI is black, making up 15.2% of the population. Foreign-born residents account for 5.6% of the population in Lansing, MI, and this percentage has decreased by 6.7% 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 | 63.9% | 2.6% |
% Black | 15.2% | 4.8% |
% Hispanic | 11.6% | -25.2% |
% Asian | 2.1% | 10.5% |
% Foreign Born | 5.6% | -6.7% |
Mortgage and Risk — Lansing, MI
According to HUD data as of 2023, there were 416 mortgage originations in Lansing, MI, of which 81.0% of loans were conventional mortgages. The average loan-to-value was 69.0%, with 32.0% above 90% LTV (very high). This implies large mortgage risk in Lansing, MI. Investor activity is low, as 4.0% of loans were by investors. 10.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 416 |
% Conventional Loans | 81.0% |
% Government Loans | 19.0% |
% Investor Loans | 4.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 10.0% |
Loan Activity
Rentals and Section 8 — Lansing, MI
As of 2024, the percent of homes in Lansing, MI under the Section 8 program is 23.9%. This is considered high, suggesting that the neighborhood is heavily composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. 1-bedroom and 2-bedroom and 3-bedroom units appear to be good home sizes to consider for Section 8 housing in Lansing, MI, because HUD payments exceed market rent, while 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 837 |
Total Units Section 8 | 835 |
% Rentals under Section 8 | 23.9% |
% Occupied Section 8 | 86.6% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $100 | $800 | $900 |
| 2 Bedroom | $121 | $999 | $1,120 |
| 3 Bedroom | $30 | $1,430 | $1,460 |
| 4 Bedroom | -$320 | $1,800 | $1,480 |
Affordability — Lansing, MI
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.3 |
| Median Home Price | $161,000 |
| Median Household Income | $61,500 |