Data through September 2026 · updated 2026-11-07 · free, from Zillow, Realtor.com, the Census Bureau and other public sources
Typical home value$246,267+3.6% YoY · prices are rising fast
Market right nowBalanced, leaning buyersMore homes for sale than last year, 21% have cut their price
Income needed to buy, per year$53,386About 0.7× the local median income ($73,520): affordable for a typical household
Days on market47 daysSlower than a year ago: buyers have time to negotiate
Next 12 months+3.1%Zillow expects prices to rise slightly
The typical home in Lansing-East Lansing, MI is worth $246,267, up 3.6% from a year ago. That is well above what local incomes have historically supported: fair value is about $206,233, so the area is 19.4% overvalued. It is a balanced market, leaning toward buyers: homes take about 47 days to sell, listings are up 25% from a year ago, 21% of listings have had a price cut. Zillow expects prices to rise about 3.1% over the next year. A household needs about $53,386 a year to afford the typical home here at today's 7.18% mortgage rate (20% down, payment at 30% of income); the median household earns $73,520. Typical rent is $1,302 a month, or $1,806 for a house. In the latest IRS figures, 1,178 more people moved out than in.
Home value over time
Solid: typical home value · dashed: fair value (household income × the 20-year average price-to-income ratio). Sources: FHFA, Zillow, U.S. Census Bureau.
Prices and affordability
Typical home value
$246,267
Change in 1 year
+3.6%
Overvalued %
+19.4%
Show 7 more
Fair home value
$206,233
Change in 5 years
+27.3%
Zillow forecast, next 12 months
+3.1%
Home value to income
3.3×
Monthly mortgage payment (20% down)
$1,335
Income needed to afford it
$53,386
Property tax rate
1.56%
Rent and investing
Typical rent
$1,302
Typical rent for houses
$1,806
Price-to-rent ratio
15.8×
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HUD Fair Market Rent, 2 bedrooms
$1,323
Gross rental yield
6.35%
Cap rate (estimate)
4.12%
Market activity
Listings vs a year ago
+25.0%
Days on market
47
Listings with a price cut
21.2%
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Homes for sale
1,090
Pending sales per 100 listings
46
Asking price per sq ft
$148
People and jobs
Median household income
$73,520
Population change (1 year)
+0.6%
Unemployment rate
5.5%
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Population
479,722
Income adjusted for cost of living
$77,389
Net moves in (IRS)
−1,178
Cost of living (US = 100)
95.0
Schools, risk and environment
School rating (1 to 10)
5.6
FEMA hazard risk score (0 to 100)
76.0
Unhealthy air days a year
7
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Flood risk score
78.5
Wildfire risk score
25.3
Walkability (1 to 20)
9.1
Road, rail and air noise
54 dB
Questions people ask
Is Lansing-East Lansing, MI overvalued?
Home prices in Lansing-East Lansing, MI are well above what local incomes have historically supported: fair value is about $206,233, so the area is 19.4% overvalued.
Is Lansing-East Lansing, MI a buyer's or seller's market?
Lansing-East Lansing, MI is a balanced market, leaning toward buyers: homes take about 47 days to sell, listings are up 25% from a year ago, 21% of listings have had a price cut.
Are home prices going down in Lansing-East Lansing, MI?
Home values in Lansing-East Lansing, MI are up 3.6% over the last year. Zillow's forecast for the next 12 months is +3.1%.
How much do you need to earn to buy a home in Lansing-East Lansing, MI?
A household needs about $53,386 a year to afford the typical home in Lansing-East Lansing, MI at today's 7.18% mortgage rate (20% down, payment at 30% of income); the median household earns $73,520.