Lansing, MI—48917
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 $257,000, with a year-over-year change of 2.8%. This indicates that home prices in Lansing, MI are increasing. According to Zillow, the 1-year price projection is 1.3%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $257,000 | 2.8% |
| Single Family | $255,000 | 2.8% |
| Condos | $267,000 | 2.7% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $203,000 | 3.6% |
3 Bed | $250,000 | 3.3% |
4 Bed | $308,000 | 2.0% |
| 5 Bed | $358,000 | 1.1% |
% of Housing Stock
Rental Trends — Lansing, MI
As of July '25, Rentcast reports the average rent in Lansing, MI is $1,310, with a year-over-year rent change of 6.5%. Per bedroom, the median rent as of July '25 in Lansing, MI is studios: $669, 1-bedrooms: $945, 2-bedrooms: $1,390, 3-bedrooms: $2,140, 4-bedrooms: $2,800. The most common rental property sizes in Lansing, MI are 2-bedroom and 1-bedroom, accounting for 53.4% and 35.5% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,100 | $1,310 |
| Studio Rent | $669 | $669 |
| 1 Bed Rent | $850 | $945 |
| 2 Bed Rent | $1,150 | $1,390 |
| 3 Bed Rent | $1,950 | $2,140 |
| 4 Bed Rent | $2,800 | $2,800 |
% 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 45. This is a increase of 8.0% 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 35.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $270,000 | 3.0% |
Listing Count | 92 | 16.0% |
| Listings as % of Homes | 0.4% | 16.0% |
Days on Market | 45 | 8.0% |
Demographics — Lansing, MI
As of the latest ACS Survey released in 2023, Lansing, MI has a population of 32,000, which has remained stable by -0.7% over the past 5 years. Lansing, MI is a moderately popular place for families, as children make up 16.2% of the population. The area has a moderately educated workforce, with 39.6% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 17.5% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 32,000 | -0.7% |
% Under 18 | 16.2% | -6.4% |
% Seniors | 22.6% | 27.0% |
% WFH | 17.5% | 483.3% |
% w/ College Degree | 39.6% | 9.4% |
As of the latest ACS Survey released in 2023, Lansing, MI is a predominantly white area, with 66.9% of the population identifying as white. The white population has shrunk by 0.4% in the last 5 years. The second most common race or ethnicity in Lansing, MI is black, making up 14.2% of the population. Foreign-born residents account for 8.0% of the population in Lansing, MI, and this percentage has remained stable as of the ACS Survey 5 years prior, suggesting immigration has remained steady.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 66.9% | -0.4% |
% Black | 14.2% | 0.7% |
% Hispanic | 8.6% | -14.9% |
% Asian | 5.2% | -7.1% |
% Foreign Born | 8.0% | 0.0% |
Mortgage and Risk — Lansing, MI
According to HUD data as of 2023, there were 468 mortgage originations in Lansing, MI, of which 81.0% of loans were conventional mortgages. The average loan-to-value was 66.0%, with 35.0% above 90% LTV (very high). This implies large mortgage risk in Lansing, MI. Investor activity is low, as 0.0% of loans were by investors. 12.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 468 |
% Conventional Loans | 81.0% |
% Government Loans | 19.0% |
% Investor Loans | 0.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 12.0% |
Loan Activity
Rentals and Section 8 — Lansing, MI
As of 2024, the percent of homes in Lansing, MI under the Section 8 program is 6.8%. 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 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 | 489 |
Total Units Section 8 | 438 |
% Rentals under Section 8 | 6.8% |
% Occupied Section 8 | 91.3% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $60 | $850 | $910 |
| 2 Bedroom | -$20 | $1,150 | $1,130 |
| 3 Bedroom | -$480 | $1,950 | $1,470 |
| 4 Bedroom | -$1,300 | $2,800 | $1,500 |
Affordability — Lansing, MI
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.1 |
| Median Home Price | $257,000 |
| Median Household Income | $73,300 |