Lansing, Illinois Housing Market Prices
Lansing Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
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Median home price 64% below the Illinois median$53,342
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Median rent About the same as the Illinois median$1,268
Housing Market Overview
| Metric | Lansing | Illinois Avg | US Average |
|---|---|---|---|
| Median Home Price | $53,342 | $149,936 | $248,835 |
| Price Trend (Annual %) | -7.7% | 2.5% | 7.5% |
| Median Gross Rent | $1,268 | $1,274 | $1,407 |
| Rent Trend (Annual %) | 3.9% | 4.1% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Lansing is about 64% lower than in Illinois. Rent follows a similar pattern, running close to the Illinois average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Home prices and rent are moving in opposite directions in Lansing: home prices fell about 7.7% a year while rent rose about 3.9% a year. That is an unusual pattern worth watching.
Median rent in Lansing rose about 31.1% between 2015 and 2024, from $967 to $1,268. Over the same span, rent in Illinois rose about 40.4%.
Affordability
On average, housing unit costs 0.7 yearly household incomes in Lansing.
Buying the median-priced home in Lansing costs roughly 3.5 years of rent at the median monthly rate. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Lansing. The price-to-rent ratio in Illinois is about 9.8.
| Metric | Lansing | Illinois Avg | US Average |
|---|---|---|---|
| Median Home Price | $53,342 | $149,936 | $248,835 |
| Median Household Income | $75,330 | $84,042 | $80,455 |
| Price-to-Income Ratio | 0.7 | 1.8 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Lansing fell about 52.0%, while median household income rose about 30.8% between 2009 and 2025 — income grew faster than the home price.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Lansing | Illinois Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 67.5% | 61.9% | 58.5% |
| Rental Rate | 25.6% | 30.4% | 31.2% |
| Vacancy Rate | 7.0% | 7.7% | 10.2% |
| Median Tenure (years) | 14.0 | 16.0 | 15.0 |
| Median Year Moved In | 2012 | 2010 | 2011 |
Lansing has a homeownership rate of 67.5%, higher than the Illinois average of 61.9%. Its housing vacancy rate is 7.0%, compared with 7.7% in Illinois.
Housing Stock
| Metric | Lansing | Illinois Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.54 people | 2.46 people | 2.53 people |
| Median Structure Built Year | 1966 | 1969 | 1978 |
| Median Number of Rooms | 6.0 | 5.6 | 5.5 |
The typical housing unit in Lansing was built around 1966. On average, 2.5 people live in a home with about 6.0 rooms, staying for about 14.0 years on average.
Lansing, IL Housing Compared With Nearby Cities
How Lansing, IL compares with the 2 cities closest to it.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Lansing, IL | 25,475 | $53,342 #3/3 | $1,268 #2/3 | 72.5% #2/3 |
| Calumet City, IL | 34,245 | $113,588 | $1,190 | 57.1% |
| South Holland, IL | 22,419 | $97,060 | $1,568 | 81.8% |
Frequently Asked Questions
Common questions about the housing market in Lansing, Illinois.
What is the median home price in Lansing, Illinois?
The median home price in Lansing, Illinois is $53,342, lower than the Illinois average of $149,936.
What is the average home price in Lansing, Illinois?
The typical home price in Lansing, Illinois, reported as the median sale price, is $53,342. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Lansing, Illinois?
The median gross rent in Lansing, Illinois is $1,268 per month, about the same as the Illinois average.
What was the median gross rent in Lansing in 2020?
In 2020, the median gross rent in Lansing, Illinois was $1,022 per month.
What is the price-to-rent ratio in Lansing, Illinois?
The price-to-rent ratio in Lansing, Illinois is about 3.5, meaning it would take roughly 3.5 years of rent payments at the median rent to equal the median home price. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Lansing.
Are home prices or rent rising faster in Lansing, Illinois?
Home prices and rent are moving in opposite directions in Lansing: home prices fell about 7.7% a year while rent rose about 3.9% a year. That is an unusual pattern worth watching.
What is the homeownership rate in Lansing, Illinois?
67.5% of households in Lansing, Illinois own their home, higher than the Illinois average of 61.9%.
What is the vacancy rate in Lansing, Illinois?
The housing vacancy rate in Lansing, Illinois is 7.0%, lower than the Illinois average of 7.7%.
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