Lansing, IL—60438
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Lansing, IL
As of Oct '25, the median home price in Lansing, IL is $194,000, with a year-over-year change of -1.2%. This indicates that home prices in Lansing, IL are decreasing. According to Zillow, the 1-year price projection is 1.0%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $194,000 | -1.2% |
| Single Family | $203,000 | -1.5% |
| Condos | $102,000 | -15.7% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $78,000 | -7.1% |
2 Bed | $137,000 | -1.4% |
3 Bed | $202,000 | -0.5% |
4 Bed | $252,000 | -0.4% |
| 5 Bed | $277,000 | -0.7% |
% of Housing Stock
Rental Trends — Lansing, IL
As of July '25, Rentcast reports the average rent in Lansing, IL is $1,880, with a year-over-year rent change of 11.2%. Per bedroom, the median rent as of July '25 in Lansing, IL is 1-bedrooms: $1,170, 2-bedrooms: $1,490, 3-bedrooms: $2,120, 4-bedrooms: $2,470. The most common rental property sizes in Lansing, IL are 2-bedroom and 3-bedroom, accounting for 47.6% and 23.2% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,700 | $1,880 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $1,100 | $1,170 |
| 2 Bed Rent | $1,500 | $1,490 |
| 3 Bed Rent | $2,000 | $2,120 |
| 4 Bed Rent | $2,500 | $2,470 |
% of Rental Stock
Property Listings — Lansing, IL
As of Oct '25, Realtor.com reports that the median days on market for a home in Lansing, IL is 45. This is a increase of 41.0% 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 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 | $220,000 | 2.0% |
Listing Count | 181 | 16.0% |
| Listings as % of Homes | 0.9% | 16.0% |
Days on Market | 45 | 41.0% |
Demographics — Lansing, IL
As of the latest ACS Survey released in 2023, Lansing, IL has a population of 28,800, which has remained stable by -0.5% over the past 5 years. Lansing, IL is a moderately popular place for families, as children make up 24.2% of the population. The area has a moderately educated workforce, with 27.6% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 8.6% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 28,800 | -0.5% |
% Under 18 | 24.2% | 8.0% |
% Seniors | 15.1% | -1.9% |
% WFH | 8.6% | 186.7% |
% w/ College Degree | 27.6% | 17.4% |
As of the latest ACS Survey released in 2023, Lansing, IL is a predominantly black area, with 51.2% of the population identifying as black. The black population has grown by 24.9% in the last 5 years. The second most common race or ethnicity in Lansing, IL is white, making up 25.4% of the population. Foreign-born residents account for 10.0% of the population in Lansing, IL, and this percentage has increased by 19.0% 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 | 25.4% | -37.9% |
% Black | 51.2% | 24.9% |
% Hispanic | 17.8% | 17.9% |
% Asian | 2.3% | 155.6% |
% Foreign Born | 10.0% | 19.0% |
Mortgage and Risk — Lansing, IL
According to HUD data as of 2023, there were 461 mortgage originations in Lansing, IL, of which 61.0% of loans were conventional mortgages. The average loan-to-value was 76.0%, with 52.0% above 90% LTV (very high). This implies large mortgage risk in Lansing, IL. Investor activity is low, as 2.0% of loans were by investors. 11.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 461 |
% Conventional Loans | 61.0% |
% Government Loans | 39.0% |
% Investor Loans | 2.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 11.0% |
Loan Activity
Rentals and Section 8 — Lansing, IL
As of 2024, the percent of homes in Lansing, IL under the Section 8 program is 13.9%. 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 and 2-bedroom units appear to be good home sizes to consider for Section 8 housing in Lansing, IL, because HUD payments exceed market rent, while 3-bedroom and 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 500 |
Total Units Section 8 | 500 |
% Rentals under Section 8 | 13.9% |
% Occupied Section 8 | 91.8% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $260 | $1,100 | $1,360 |
| 2 Bedroom | $30 | $1,500 | $1,530 |
| 3 Bedroom | -$30 | $2,000 | $1,970 |
| 4 Bedroom | -$190 | $2,500 | $2,310 |
Affordability — Lansing, IL
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.5 |
| Median Home Price | $194,000 |
| Median Household Income | $72,000 |