Lansing - MI housing market
The Lansing metro has a typical home value of $249,666, up 3.6% from a year ago. Homes are moving fast at 9 days on market, a strong seller's market. 25% of listings have had a price cut. Data from Zillow Research, updated monthly.
Lansing housing market, October 2026
The typical Lansing home is worth $249,666 as of August 2026, up 0.2% from the prior month, up 0.5% over three months, and up 3.6% from a year ago. Over the past two years values have ranged from $233,140 to $249,666.
Homes are going pending in about 9 days, slower than the 7 days seen three months earlier. There are roughly 1,612 homes for sale, 15% more than a year ago. 25.4% of listings have taken a price cut (up from 18.6% three months ago).
Typical rent is $1,280 a month, up 5.7% year over year, which puts the price-to-rent ratio at 16.3.
At this week's 7.40% mortgage rate with 20% down ($49,933), the typical Lansing home costs about $1,695 a month including tax and insurance, which needs a household income of roughly $72,600 to stay under a 28% payment-to-income ratio.
Income needed to buy assumes 20% down, a 30-year fixed mortgage at 7.4% (Freddie Mac weekly average), property tax at 1.1% and insurance at 0.4% of value per year, and a 28% payment-to-income cap. Local taxes and insurance vary; treat it as a comparison figure across metros, not a lender's answer. All metros ranked →
How to read this data
The typical home value ($249,666) is the Zillow Home Value Index for the Lansing - MI metro area: a smoothed, seasonally adjusted estimate of the typical value for middle-tier homes (33rd to 67th percentile) across single-family and condo properties.
Prices are up 3.6% over the past year. In Lansing - MI, that means a home worth $240,990 last year is now worth roughly $249,666.
The median sale price, what homes actually close for, is $232,340. Homes are selling at 100.6% of list price, meaning buyers are typically paying at or above asking.
Homes listed in Lansing - MI sit on the market for roughly 9 days before going pending. Shorter = seller's market; longer = buyer's market.
About 25.4% of current listings have had at least one price cut. High price-cut shares signal sellers are adjusting expectations downward.
Roughly 712 new listings hit the market each month in Lansing - MI. There are currently 1,612 homes for sale, up 15.1% from a year ago.
The typical monthly rent in Lansing - MI is $1,280, up 5.7% year over year. On the Rent vs Buy Index that is a price-to-rent ratio of 16.3x, toss-up (#117 of 195 metros). The mortgage on a typical home here, 20% down at today's 7.4% 30-year rate, runs about $1,383 a month in principal and interest, $103 more than renting before taxes, insurance and upkeep. The two break even at a 6.63% rate.
What's not on this page
This is market-level data, not property-level. We don't list individual homes for sale. For that, go to Zillow, Redfin, or your local MLS.
Data: Zillow Research (ZHVI and market indicators), refreshed monthly at the source. This page was rebuilt October 2026. Methodology →
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Other metros in MI
| Metro | Home value | 1-yr change | Days on market |
|---|---|---|---|
| Detroit - MI | $267,167 | +2.1% | 12.0d |
| Grand Rapids - MI | $357,283 | +4.9% | 8.0d |
| Flint - MI | $196,792 | +4.7% | 12.0d |
| Ann Arbor - MI | $416,914 | +2.5% | 13.0d |
| Kalamazoo - MI | $278,194 | +4.4% | 10.0d |