Lansing MI
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA



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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 Q2 2020. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2018 (latest available). Updated annually.

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

Lansing Housing Market Information

With 118,427 people, 1,623 houses or apartments, and a median cost of homes of $97,626, 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 63.82% of the city's housing units. Other types of housing that are prevalent in Lansing include large apartment complexes or high rise apartments ( 20.83%), row houses and other attached homes ( 7.60%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 5.94%).

The most prevalent building size and type in Lansing are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 54.55% owning and 45.45% renting.

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 41.19% of the city's housing hails from this era. Other housing ages represented in Lansing include homes built between 1970-1999 ( 33.64%) and housing constructed before 1939 ( 18.42%). There's also some housing in Lansing built between 2000 and later ( 6.75%).

Lansing Home Appreciation Rates

Appreciation rates for homes in 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 35.57%, which ranks in the top 40% nationwide. This equates to an annual average Lansing house appreciation rate of 3.09%.

NeighborhoodScout's data show that during the latest twelve months, Lansing's appreciation rate, at 5.12%, has been at or slightly above the national average. In the latest quarter, Lansing's appreciation rate has been -0.41%, which annualizes to a rate of -1.63%.

Notably, Lansing's appreciation rate in the latest quarter is one of the lowest in America.

Relative to Michigan, our data show that Lansing's latest annual appreciation rate is higher than 80% 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.

Average Home Values

 

Median Home Value:
$97,626

Lansing, MI HOME PRICES

Value Range
> $1,257,000 0.2
$943,001 - $1,257,000 0.1
$628,001 - $943,000 0.3
$503,001 - $628,000 0.3
$377,001 - $503,000 0.4
$251,001 - $377,000 2.8
$126,001 - $251,000 27.1
$63,001 - $126,000 48.1
$0 - $63,000 20.7

Very Low for MI
Very Low for Nation

Value Relative to Nation Value Relative to State
87.0948905109489 89.4230769230769

Number Of Homes And Apartments:
1,623

Lansing Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MI*
Compared To
America*
Latest Quarter:
2020 Q1 - 2020 Q2
Last 12 Months:
2019 Q2 - 2020 Q2
Last 2 Years:
2018 Q2 - 2020 Q2
Last 5 Years:
2015 Q2 - 2020 Q2
Last 10 Years:
2010 Q2 - 2020 Q2
Since 2000:
2000 Q1 - 2020 Q2
19.28% 0.86%
3
1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,015 / per month

Homeownership Rate

Homeownership
Owners 54.55
Renters 45.45
Vacant 9.91

Housing Market Details

 

Age of Homes

AGE OF Lansing HOMES
2000 or Newer 6.8
1970 - 1999 33.6
1940 - 1969 41.2
1939 or Older 18.4

Types of Homes

TYPE OF Lansing HOMES
Single-Family 63.8
Townhomes 7.6
Small Apt. Buildings 5.9
Apt. Complexes 20.8
Mobile Homes 1.8
Other 0.0

Home Size

SIZE OF Lansing HOMES
No Bedroom 1.53
1 Bedroom 13.19
2 Bedrooms 31.34
3 Bedrooms 39.28
4 Bedrooms 12.59
5 or more bedrooms 2.08