Lansing, MI—48910
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 $141,000, with a year-over-year change of 6.5%. This indicates that home prices in Lansing, MI are increasing. According to Zillow, the 1-year price projection is 1.9%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $141,000 | 6.5% |
| Single Family | $141,000 | 6.0% |
| Condos | $142,000 | 9.2% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $83,000 | -2.4% |
2 Bed | $121,000 | 5.2% |
3 Bed | $160,000 | 5.3% |
4 Bed | $178,000 | 4.1% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Lansing, MI
As of July '25, Rentcast reports the average rent in Lansing, MI is $1,130, with a year-over-year rent change of 6.6%. Per bedroom, the median rent as of July '25 in Lansing, MI is studios: $925, 1-bedrooms: $1,040, 2-bedrooms: $1,200, 3-bedrooms: $1,320, 4-bedrooms: $1,500. The most common rental property sizes in Lansing, MI are 2-bedroom and 1-bedroom, accounting for 45.9% and 30.6% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,120 | $1,130 |
| Studio Rent | $950 | $925 |
| 1 Bed Rent | $1,000 | $1,040 |
| 2 Bed Rent | $1,200 | $1,200 |
| 3 Bed Rent | $1,480 | $1,320 |
| 4 Bed Rent | $1,450 | $1,500 |
% 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 36. This is a increase of 16.0% 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 26.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $140,000 | 1.0% |
Listing Count | 152 | -4.0% |
| Listings as % of Homes | 0.6% | -4.0% |
Days on Market | 36 | 16.0% |
Demographics — Lansing, MI
As of the latest ACS Survey released in 2023, Lansing, MI has a population of 32,800, which has decreased by -7.0% over the past 5 years. Lansing, MI is a moderately popular place for families, as children make up 19.1% of the population. The area has a moderately educated workforce, with 32.4% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 10.9% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 32,800 | -7.0% |
% Under 18 | 19.1% | -9.5% |
% Seniors | 12.3% | 11.8% |
% WFH | 10.9% | 445.0% |
% w/ College Degree | 32.4% | 9.8% |
As of the latest ACS Survey released in 2023, Lansing, MI is a predominantly white area, with 58.3% of the population identifying as white. The white population has shrunk by 6.3% in the last 5 years. The second most common race or ethnicity in Lansing, MI is black, making up 16.6% of the population. Foreign-born residents account for 8.6% of the population in Lansing, MI, and this percentage has increased by 17.8% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 58.3% | -6.3% |
% Black | 16.6% | -2.4% |
% Hispanic | 12.5% | 8.7% |
% Asian | 4.1% | 20.6% |
% Foreign Born | 8.6% | 17.8% |
Mortgage and Risk — Lansing, MI
According to HUD data as of 2023, there were 621 mortgage originations in Lansing, MI, of which 77.0% of loans were conventional mortgages. The average loan-to-value was 76.0%, with 46.0% 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. 8.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 621 |
% Conventional Loans | 77.0% |
% Government Loans | 23.0% |
% Investor Loans | 4.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 8.0% |
Loan Activity
Rentals and Section 8 — Lansing, MI
As of 2024, the percent of homes in Lansing, MI under the Section 8 program is 15.7%. 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. In Lansing, MI, none of the tracked home sizes currently have HUD payment amounts above market rent, suggesting limited Section 8 opportunity.
Section 8 Market Size
Total Units under HUD | 1,135 |
Total Units Section 8 | 1,055 |
% Rentals under Section 8 | 15.7% |
% Occupied Section 8 | 89.5% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$130 | $1,000 | $870 |
| 2 Bedroom | -$110 | $1,200 | $1,090 |
| 3 Bedroom | -$60 | $1,480 | $1,420 |
| 4 Bedroom | $0 | $1,450 | $1,450 |
Affordability — Lansing, MI
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.3 |
| Median Home Price | $141,000 |
| Median Household Income | $52,200 |