Lansing, IL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Lansing Neighborhoods Since 2000




Lansing, IL Real Estate Data

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Lansing Housing Market Information

With a population of 28,349, 10,951 total housing units (homes and apartments), and a median house value of $141,672, Lansing real estate and house prices are near the national average for all cities and towns.

Single-family detached homes are the single most common housing type in Lansing, accounting for 69.08% of the village's housing units. Other types of housing that are prevalent in Lansing include large apartment complexes or high rise apartments ( 21.84%), duplexes, homes converted to apartments or other small apartment buildings ( 6.45%), and a few row houses and other attached homes ( 2.58%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Lansing. Owner-occupied housing accounts for 71.04% of Lansing's homes, and 54.83% have either three or four bedrooms, which is average sized relative to America.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Lansing's housing was primarily built during this period, from the '40s through the '60s. A full 50.99% of the village's housing hails from this era. Other housing ages represented in Lansing include homes built between 1970-1999 ( 38.30%) and housing constructed before 1939 ( 7.73%). There's also some housing in Lansing built between 2000 and later ( 2.97%).

Lansing Home Appreciation Rates

Homes have actually lost value in Lansing over the last then years, as home values have seen a decline of 31.27% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Lansing home appreciation rates at 0.43%, which equates to an annual appreciation rate of 1.74%.

NeighborhoodScout's data show that during the latest twelve months, Lansing's appreciation rate, at 3.21%, has been at or slightly above the national average. In the latest quarter, Lansing's appreciation rate has been 0.43%, which annualizes to a rate of 1.74%.

Relative to Illinois, our data show that Lansing's latest annual appreciation rate is higher than 60% of the other cities and towns in Illinois.

One very important thing to keep in mind is that these are average appreciation rates for the village. Individual neighborhoods within Lansing differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Lansing - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Lansing real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$141,672

Lansing, IL HOME PRICES

Value Range
> $1,052,000 0.3
$789,001 - $1,052,000 0.2
$526,001 - $789,000 0.0
$421,001 - $526,000 0.7
$316,001 - $421,000 3.0
$210,001 - $316,000 12.8
$105,001 - $210,000 52.5
$53,001 - $105,000 25.6
$0 - $53,000 5.0

Average for IL
Average for Nation

Value Relative to Nation Value Relative to State
54.0138286651822 45.0632911392405

Number Of Homes And Apartments:
10,951

Lansing Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
IL*
Compared To
America*
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
-10.08% -0.61% 1 1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,211 / per month

Homeownership Rate

Homeownership
Owners 71.04
Renters 28.96
Vacant 9.89

Housing Market Details

 

Age of Homes

AGE OF Lansing HOMES
2000 or Newer 3.0
1970 - 1999 38.3
1940 - 1969 51.0
1939 or Older 7.7

Types of Homes

TYPE OF Lansing HOMES
Single-Family 69.1
Townhomes 2.6
Small Apt. Buildings 6.5
Apt. Complexes 21.8
Mobile Homes 0.1
Other 0.0

Home Size

SIZE OF Lansing HOMES
No Bedroom 2.33
1 Bedroom 10.76
2 Bedrooms 29.13
3 Bedrooms 40.41
4 Bedrooms 14.42
5 or more bedrooms 2.95