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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more
With a population of 118,427, 48,726 total housing units (homes and apartments), and a median house value of $97,812, house prices in Lansing are some of the most affordable in Michigan as well as the nation.
Single-family detached homes are the single most common housing type in Lansing, accounting for 63.36% of the city's housing units. Other types of housing that are prevalent in Lansing include large apartment complexes or high rise apartments ( 21.07%), row houses and other attached homes ( 7.32%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 7.12%).
People in Lansing primarily live in small (one, two or no bedroom) single-family detached homes. Lansing has a mixture of owner-occupied and renter-occupied housing.
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 43.78% of the city's housing hails from this era. Other housing ages represented in Lansing include homes built between 1970-1999 ( 28.13%) and housing constructed before 1939 ( 23.73%). There's also some housing in Lansing built between 2000 and later ( 4.36%).
Vacant housing appears to be an issue in Lansing. Fully 11.73% of the housing stock is classified as vacant. Left unchecked, vacant Lansing homes and apartments can be a drag on the real estate market, holding Lansing real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.
Real estate appreciation rates in Lansing's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 1.66% during the period.
Over the last year, Lansing appreciation rates have trailed the rest of the nation. In the last twelve months, Lansing's appreciation rate has been 2.92%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Lansing were at 2.82%, which equates to an annual appreciation rate of 11.76%.
Importantly, this makes Lansing one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.
Relative to Michigan, our data show that 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 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.
|$968,001 - $1,291,000||0.1|
|$646,001 - $968,000||0.4|
|$516,001 - $646,000||0.2|
|$387,001 - $516,000||0.4|
|$258,001 - $387,000||2.6|
|$129,001 - $258,000||25.8|
|$65,001 - $129,000||49.7|
|$0 - $65,000||20.7|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
2019 Q2 - 2019 Q3
Last 12 Months:
2018 Q3 - 2019 Q3
Last 2 Years:
2017 Q3 - 2019 Q3
Last 5 Years:
2014 Q3 - 2019 Q3
Last 10 Years:
2009 Q3 - 2019 Q3
2000 Q1 - 2019 Q3
|* 10 is highest|
|AGE OF Lansing HOMES|
|2000 or Newer||4.4|
|1970 - 1999||28.1|
|1940 - 1969||43.8|
|1939 or Older||23.7|
|TYPE OF Lansing HOMES|
|Small Apt. Buildings||7.1|
|SIZE OF Lansing HOMES|
|5 or more bedrooms||1.94|