Lansing, MI—48912
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 $136,000, with a year-over-year change of 4.5%. This indicates that home prices in 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 | $136,000 | 4.5% |
| Single Family | $134,000 | 3.9% |
| Condos | $170,000 | 4.3% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $106,000 | 3.9% |
3 Bed | $167,000 | 4.4% |
4 Bed | $233,000 | 5.4% |
| 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 $1,150, with a year-over-year rent change of -6.5%. Per bedroom, the median rent as of July '25 in Lansing, MI is studios: $957, 1-bedrooms: $1,100, 2-bedrooms: $1,150, 3-bedrooms: $1,510, 4-bedrooms: $1,800. The most common rental property sizes in Lansing, MI are 2-bedroom and 1-bedroom, accounting for 39.9% and 34.0% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,000 | $1,150 |
| Studio Rent | $925 | $957 |
| 1 Bed Rent | $1,000 | $1,100 |
| 2 Bed Rent | $1,200 | $1,150 |
| 3 Bed Rent | $1,500 | $1,510 |
| 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 42. This is a increase of 2.0% 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 33.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $99,900 | -6.0% |
Listing Count | 73 | 18.0% |
| Listings as % of Homes | 0.4% | 18.0% |
Days on Market | 42 | 2.0% |
Demographics — Lansing, MI
As of the latest ACS Survey released in 2023, Lansing, MI has a population of 17,400, which has decreased by -1.7% over the past 5 years. Lansing, MI is a moderately popular place for families, as children make up 18.7% of the population. The area has a moderately educated workforce, with 40.0% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 17.3% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 17,400 | -1.7% |
% Under 18 | 18.7% | 2.7% |
% Seniors | 13.6% | 9.7% |
% WFH | 17.3% | 284.4% |
% w/ College Degree | 40.0% | 3.1% |
As of the latest ACS Survey released in 2023, Lansing, MI is a predominantly white area, with 56.1% of the population identifying as white. The white population has shrunk by 12.9% in the last 5 years. The second most common race or ethnicity in Lansing, MI is black, making up 22.6% of the population. Foreign-born residents account for 11.6% of the population in Lansing, MI, and this percentage has increased by 45.0% 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 | 56.1% | -12.9% |
% Black | 22.6% | 43.0% |
% Hispanic | 10.0% | 5.3% |
% Asian | 4.2% | 44.8% |
% Foreign Born | 11.6% | 45.0% |
Mortgage and Risk — Lansing, MI
According to HUD data as of 2023, there were 287 mortgage originations in Lansing, MI, of which 87.0% of loans were conventional mortgages. The average loan-to-value was 73.0%, with 38.0% above 90% LTV (very high). This implies large mortgage risk in Lansing, MI. Investor activity is low, as 3.0% of loans were by investors. 7.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 287 |
% Conventional Loans | 87.0% |
% Government Loans | 13.0% |
% Investor Loans | 3.0% |
% Second Loans | 2.0% |
% Cash Out Refinance | 7.0% |
Loan Activity
Rentals and Section 8 — Lansing, MI
As of 2024, the percent of homes in Lansing, MI under the Section 8 program is 12.5%. 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. 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 | 625 |
Total Units Section 8 | 622 |
% Rentals under Section 8 | 12.5% |
% Occupied Section 8 | 90.4% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$90 | $1,000 | $910 |
| 2 Bedroom | -$70 | $1,200 | $1,130 |
| 3 Bedroom | -$30 | $1,500 | $1,470 |
| 4 Bedroom | -$300 | $1,800 | $1,500 |
Affordability — Lansing, MI
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.2 |
| Median Home Price | $136,000 |
| Median Household Income | $53,100 |