Lansing, MI
Ingham County · Pop. 112,644
Ranked #36 of 243 cities
56Moderate
Median Home Price
🏠$160K
3.0% YoY
Median Rent
🔑$1,050
2.5% YoY
Median Income
💰$40K
Rent Burden
📊31.5%
% of income to rent
Income to Buy
🏦$46K
annual income needed
Income to Rent
📝$42K
annual income needed
Price-to-Income
⚖️4.0x
Homeownership
🏡48.0%
Rent vs. Buy
Buy
$852/mo
Est. mortgage (7%, 20% down)
Need $46K/yr income
Rent
$1,050/mo
Median rent
Need $42K/yr income
How Lansing Compares
| Metric | Lansing | Michigan | National |
|---|---|---|---|
| Home Price | $160K | $236K | $410K |
| Rent | $1,050 | $1,101 | $1,500 |
| Income | $40K | $69K | $75K |
| Rent Burden | 31.5% | 30.0% | 30.0% |
Key Takeaways
- • Home prices in Lansing are 61% lower than the national average.
- • Rent is 30% lower than the national average.
- • You need an income of $46K to comfortably buy a home here.
- • The homeownership rate is 48.0%, compared to 65.0% nationally.