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  4. /Lansing, MI - 48906

Lansing, MI—48906

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value
$171,000
4.0% YoY Growth
Household Income
$61,500
37.9% YoY Growth
Days on Market
54
22.0% Longer YoY
Home Price Forecast
1.4%
Median Rent
$950
9.4% YoY Growth
1-Bed Rent
$800
6.9% YoY Growth
2-Bed Rent
$999
3.8% YoY Growth
3-Bed Rent
$1,430
1.4% YoY Growth

Other Zip Codes in Lansing, MI

489124891548917489104891148933
  • Home Price Trends
  • Rental Trends
  • Property Listings
  • Demographics
  • Mortgage and Risk

Home Price Trends — Lansing, MI

As of May '26, the median home price in Lansing, MI is $171,000, with a year-over-year change of 4.0%. 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 TypeMedian Home ValueYoY % Change
All Homes
$171,0004.0%
Single Family $168,0003.7%
Condos $265,000-4.0%

Cost per Home Size

Home SizeMedian Home ValueYoY % Change
1 Bed

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  • Affordability
  • Rentals and Section 8
    • $79,000
    -3.7%
    2 Bed
    		$117,0000.9%
    3 Bed
    		$204,0004.6%
    4 Bed
    		$266,0003.9%
    5 Bed $301,0554.4%
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    % of Housing Stock

    Studio
    2.2%
    1 Bedroom
    8.4%
    2 Bedrooms
    29.4%
    3 Bedrooms
    42.0%
    4 Bedrooms
    16.1%
    5+ Bedrooms
    1.7%

    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.

    TypeMedian RentAverage 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
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    % of Rental Stock

    Studio
    6.3%
    1 Bedroom
    18.9%
    2 Bedrooms
    45.3%
    3 Bedrooms
    21.7%
    4 Bedrooms
    7.4%
    5+ Bedrooms
    0.5%

    Property Listings — Lansing, MI

    As of May '26, Realtor.com reports that the median days on market for a home in Lansing, MI is 54. This is a increase of 22.0% 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 19.0%, representing a small inventory and little supply pressure on home prices.

    MetricZip Code AverageYear over Year % Change
    Median Listing Price
    		$141,000-7.0%
    Listing Count
    		10616.0%
    Listings as % of Homes0.6%16.0%
    Days on Market
    		5422.0%
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    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.

    MetricLatest CensusYoY % 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%
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    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

    MetricLatest Census5-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%
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    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

    MetricZip 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%
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    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 SizeHUD PremiumMarket RentMax 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

    MetricZip Code Average
    Home Price to Income Ratio2.4
    Median Home Price$171,000
    Median Household Income$61,500

    Lansing, MI — ZIP Code Boundary Map

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    Nearby ZIP Codes

    Lansing, MI

    48915

    Lansing, MI

    48933

    Lansing, MI

    48917

    Dewitt, MI

    48820

    Lansing, MI

    48912

    Frequently Asked Questions