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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



East Lansing, MI Real Estate Market

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 Q4 2023. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

East Lansing, MI Housing Market Trends

With a population of 47,340, 1,052 total housing units (homes and apartments), and a median house value of $243,878, East 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 East Lansing, accounting for 60.68% of the city's housing units. Other types of housing that are prevalent in East Lansing include large apartment complexes or high rise apartments ( 30.25%), row houses and other attached homes ( 6.94%), and a few mobile homes or trailers ( 1.51%).

The most prevalent building size and type in East Lansing are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 63.73% owning and 36.27% renting.

East Lansing homes and real estate are some of the newest in America. 80.25% of East Lansing's housing was built since 2000, making the city have a very new look and feel. If you like the amenities of newer homes and subdivisions, then you will probably like what the East Lansing real estate market has to offer. Quite a bit of the housing here was also built between 1970-1999 ( 15.04%), and between 1940-1969 ( 4.72%).

East Lansing Home Appreciation Rates

Appreciation rates for homes in East Lansing have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 89.66%, which ranks in the top 40% nationwide. This equates to an annual average East Lansing house appreciation rate of 6.61%.

NeighborhoodScout's data show that during the latest twelve months, East Lansing's appreciation rate, at 5.88%, has been at or slightly above the national average. In the latest quarter, East Lansing's appreciation rate has been 0.41%, which annualizes to a rate of 1.65%.

Relative to Michigan, our data show that East Lansing's latest annual appreciation rate is lower than 70% of the other cities and towns in Michigan.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within East Lansing differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in East 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 East Lansing real estate investment or home purchase decisions.

Average Home Values

Median Home Value

$243,878

East Lansing, MI Home Prices
> $1,291,000
$968,001 - $1,291,000
$646,001 - $968,000
$517,001 - $646,000
$387,001 - $517,000
$258,001 - $387,000
$129,001 - $258,000
$65,001 - $129,000
$0 - $65,000
0.1%
0.1%
0.6%
0.6%
5.8%
5.8%
4.2%
4.2%
17.7%
17.7%
38.3%
38.3%
26.5%
26.5%
2.9%
2.9%
3.8%
3.8%
0% 100.0%
% of Homes
Average

for Michigan

Average

for nation

Number of Homes And Apartments:

1,052

East Lansing Appreciation Rates

Rent & Ownership

Average Market Rent:

$1,441 / per month

Homeownership Rate

Owners
Renters
63.7%
63.7%
36.3%
36.3%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
6.4%
6.4%
93.6%
93.6%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
80.2%
80.2%
15.0%
15.0%
4.7%
4.7%
0.0%
0.0%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
60.7%
60.7%
6.9%
6.9%
0.6%
0.6%
30.2%
30.2%
1.5%
1.5%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
0.0%
0.0%
2.2%
2.2%
25.2%
25.2%
31.4%
31.4%
40.6%
40.6%
0.6%
0.6%
0% 100.0%
% of Homes