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 2019. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2017 (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 116,986, 48,726 total housing units (homes and apartments), and a median house value of $95,104, 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.

Lansing Home Appreciation Rates

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 1.20% during the period.

NeighborhoodScout's data show that during the latest twelve months, Lansing's appreciation rate, at 2.90%, has been at or slightly above the national average. In the latest quarter, Lansing's appreciation rate has been -0.99%, which annualizes to a rate of -3.90%.

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 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.

Average Home Values

 

Median Home Value:
$95,104

Lansing, MI HOME PRICES

Value Range
> $1,255,000 0.2
$941,001 - $1,255,000 0.1
$628,001 - $941,000 0.4
$502,001 - $628,000 0.2
$377,001 - $502,000 0.4
$251,001 - $377,000 2.6
$126,001 - $251,000 25.8
$63,001 - $126,000 49.7
$0 - $63,000 20.7

Very Low for MI
Very Low for Nation

Value Relative to Nation Value Relative to State
85.956204379562 88.1410256410256

Number Of Homes And Apartments:
48,726

Lansing Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MI*
Compared To
America*
Latest Quarter:
2019 Q1 - 2019 Q2
Last 12 Months:
2018 Q2 - 2019 Q2
Last 2 Years:
2017 Q2 - 2019 Q2
Last 5 Years:
2014 Q2 - 2019 Q2
Last 10 Years:
2009 Q2 - 2019 Q2
Since 2000:
2000 Q1 - 2019 Q2
10.02% 0.49%
2
1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,078 / per month

Homeownership Rate

Homeownership
Owners 49.86
Renters 50.14
Vacant 11.73

Housing Market Details

 

Age of Homes

AGE OF Lansing HOMES
2000 or Newer 4.4
1970 - 1999 28.1
1940 - 1969 43.8
1939 or Older 23.7

Types of Homes

TYPE OF Lansing HOMES
Single-Family 63.4
Townhomes 7.3
Small Apt. Buildings 7.1
Apt. Complexes 21.1
Mobile Homes 1.1
Other 0.0

Home Size

SIZE OF Lansing HOMES
No Bedroom 1.81
1 Bedroom 15.33
2 Bedrooms 33.78
3 Bedrooms 37.20
4 Bedrooms 9.95
5 or more bedrooms 1.94