East Lansing, MI
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating East Lansing Neighborhoods Since 2000




East Lansing, MI 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

East Lansing Housing Market Information

With a population of 48,471, 13,927 total housing units (homes and apartments), and a median house value of $180,655, East Lansing real estate prices are well above average cost compared to national prices.

Large apartment complexes or high rise apartments are the single most common housing type in East Lansing, accounting for 50.46% of the city's housing units. Other types of housing that are prevalent in East Lansing include single-family detached homes ( 36.13%), row houses and other attached homes ( 7.82%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 5.51%). Cities that are predominantly high-density buildings are relatively uncommon in the US. Because of the density, these types of cities are often walkable and compact, and often have a lively downtown.

East Lansing is dominated by renter-occupied one, two, or no bedrooms apartments. 76.84% of East Lansing's dwellings are rentals.

There is a lot of housing in East Lansing built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in East Lansing built between 1940-1969 ( 35.77%). A lesser amount of the housing stock also hails from between 2000 and later ( 13.61%). There's also some housing in East Lansing built before 1939 ( 11.15%).

East Lansing Home Appreciation Rates

Real estate appreciation rates in East Lansing's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.12% during the period.

Appreciation rates are so strong in East Lansing that despite a nationwide downturn in the housing market, East Lansing real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, East Lansing appreciation rates continue to be some of the highest in America, at 7.88%, which is higher than appreciation rates in 86.15% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in East Lansing. East Lansing appreciation rates in the latest quarter were at 1.36%, which equates to an annual appreciation rate of 5.54%.

Relative to Michigan, our data show that East Lansing's latest annual appreciation rate is higher 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:
$180,655

East Lansing, MI HOME PRICES

Value Range
> $1,169,000 0.1
$876,001 - $1,169,000 0.2
$584,001 - $876,000 1.3
$467,001 - $584,000 3.1
$351,001 - $467,000 4.2
$234,001 - $351,000 19.5
$117,001 - $234,000 54.9
$58,001 - $117,000 10.0
$0 - $58,000 6.6

High for MI
High for Nation

Value Relative to Nation Value Relative to State
37.8940583616548 22.1153846153846

Number Of Homes And Apartments:
13,927

East Lansing Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MI*
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
21.31% 1.13% 8 2
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,088 / per month

Homeownership Rate

Homeownership
Owners 23.16
Renters 76.84
Vacant 8.82

Housing Market Details

 

Age of Homes

AGE OF East Lansing HOMES
2000 or Newer 13.6
1970 - 1999 39.5
1940 - 1969 35.8
1939 or Older 11.1

Types of Homes

TYPE OF East Lansing HOMES
Single-Family 36.1
Townhomes 7.8
Small Apt. Buildings 5.5
Apt. Complexes 50.5
Mobile Homes 0.1
Other 0.0

Home Size

SIZE OF East Lansing HOMES
No Bedroom 4.20
1 Bedroom 20.65
2 Bedrooms 32.03
3 Bedrooms 21.56
4 Bedrooms 17.38
5 or more bedrooms 4.17