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Lansing, MI—48917

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value
$265,000
1.5% YoY Growth
Household Income
$73,300
23.3% YoY Growth
Days on Market
26
9.0% Longer YoY
Home Price Forecast
1.4%
Median Rent
$1,100
6.5% YoY Growth
1-Bed Rent
$850
11.8% YoY Growth
2-Bed Rent
$1,150
24.1% YoY Growth
3-Bed Rent
$1,950
64.6% YoY Growth

Other Zip Codes in Lansing, MI

489124891548910489114890648933
  • 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 $265,000, with a year-over-year change of 1.5%. 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 TypeMedian Home ValueYoY % Change
All Homes
$265,0001.5%
Single Family $265,0001.1%
Condos $266,0001.5%

Cost per Home Size

Home SizeMedian Home ValueYoY % Change
1 Bed

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  • Affordability
  • Rentals and Section 8
    • N/A
    N/A
    2 Bed
    		$207,0001.5%
    3 Bed
    		$259,0001.2%
    4 Bed
    		$318,0000.3%
    5 Bed $365,9500.5%
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    % of Housing Stock

    Studio
    1.2%
    1 Bedroom
    15.1%
    2 Bedrooms
    32.6%
    3 Bedrooms
    33.8%
    4 Bedrooms
    14.2%
    5+ Bedrooms
    3.1%

    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.

    TypeMedian RentAverage 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
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    % of Rental Stock

    Studio
    1.8%
    1 Bedroom
    35.5%
    2 Bedrooms
    53.4%
    3 Bedrooms
    7.7%
    4 Bedrooms
    0.8%
    5+ Bedrooms
    0.8%

    Property Listings — Lansing, MI

    As of May '26, Realtor.com reports that the median days on market for a home in Lansing, MI is 26. This is a increase of 9.0% 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 20.0%, representing a small inventory and little supply pressure on home prices.

    MetricZip Code AverageYear over Year % Change
    Median Listing Price
    		$269,0005.0%
    Listing Count
    		8019.0%
    Listings as % of Homes0.4%19.0%
    Days on Market
    		269.0%
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    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.

    MetricLatest CensusYoY % 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%
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    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

    MetricLatest Census5-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%
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    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

    MetricZip 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%
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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 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 SizeHUD PremiumMarket RentMax 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

    MetricZip Code Average
    Home Price to Income Ratio3.1
    Median Home Price$265,000
    Median Household Income$73,300

    Lansing, MI — ZIP Code Boundary Map

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    Nearby ZIP Codes

    Lansing, MI

    48915

    Lansing, MI

    48906

    Lansing, MI

    48933

    Lansing, MI

    48911

    Dimondale, MI

    48821

    Frequently Asked Questions