East Lansing, Michigan Housing Market Prices
East 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 47% below the Michigan median$73,853
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Median rent 1% below the Michigan median$1,122
Housing Market Overview
| Metric | East Lansing | Michigan Avg | US Average |
|---|---|---|---|
| Median Home Price | $73,853 | $138,713 | $248,835 |
| Price Trend (Annual %) | -0.2% | 8.6% | 7.5% |
| Median Gross Rent | $1,122 | $1,129 | $1,407 |
| Rent Trend (Annual %) | 3.3% | 4.5% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in East Lansing is about 47% lower than in Michigan. Rent is about 1% lower than the Michigan 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 East Lansing: home prices fell about 0.2% a year while rent rose about 3.3% a year. That is an unusual pattern worth watching.
Median rent in East Lansing rose about 34.1% between 2015 and 2024, from $837 to $1,122. Over the same span, rent in Michigan rose about 44.2%.
Affordability
On average, housing unit costs 1.6 yearly household incomes in East Lansing.
Buying the median-priced home in East Lansing costs roughly 5.5 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 East Lansing. The price-to-rent ratio in Michigan is about 10.2.
| Metric | East Lansing | Michigan Avg | US Average |
|---|---|---|---|
| Median Home Price | $73,853 | $138,713 | $248,835 |
| Median Household Income | $44,970 | $72,977 | $80,455 |
| Price-to-Income Ratio | 1.6 | 1.9 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in East Lansing fell about 35.5%, while median household income rose about 45.9% 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 | East Lansing | Michigan Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 33.2% | 64.6% | 58.5% |
| Rental Rate | 55.4% | 23.6% | 31.2% |
| Vacancy Rate | 11.4% | 11.8% | 10.2% |
| Median Tenure (years) | 8.0 | 16.0 | 15.0 |
| Median Year Moved In | 2018 | 2010 | 2011 |
East Lansing has a homeownership rate of 33.2%, lower than the Michigan average of 64.6%. Its housing vacancy rate is 11.4%, compared with 11.8% in Michigan.
Housing Stock
| Metric | East Lansing | Michigan Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.19 people | 2.42 people | 2.53 people |
| Median Structure Built Year | 1978 | 1972 | 1978 |
| Median Number of Rooms | 4.8 | 5.9 | 5.5 |
The typical housing unit in East Lansing was built around 1978. On average, 2.2 people live in a home with about 4.8 rooms, staying for about 8.0 years on average.
East Lansing, MI Housing Compared With Nearby Cities
How East Lansing, MI compares with the 1 cities closest to it.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| East Lansing, MI | 44,400 | $73,853 #2/2 | $1,122 #1/2 | 37.4% #2/2 |
| Lansing, MI | 106,034 | $123,867 | $996 | 55.7% |
Frequently Asked Questions
Common questions about the housing market in East Lansing, Michigan.
What is the median home price in East Lansing, Michigan?
The median home price in East Lansing, Michigan is $73,853, lower than the Michigan average of $138,713.
What is the average home price in East Lansing, Michigan?
The typical home price in East Lansing, Michigan, reported as the median sale price, is $73,853. 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 East Lansing, Michigan?
The median gross rent in East Lansing, Michigan is $1,122 per month, lower than the Michigan average of $1,129.
What was the median gross rent in East Lansing in 2020?
In 2020, the median gross rent in East Lansing, Michigan was $953 per month.
What is the price-to-rent ratio in East Lansing, Michigan?
The price-to-rent ratio in East Lansing, Michigan is about 5.5, meaning it would take roughly 5.5 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 East Lansing.
Are home prices or rent rising faster in East Lansing, Michigan?
Home prices and rent are moving in opposite directions in East Lansing: home prices fell about 0.2% a year while rent rose about 3.3% a year. That is an unusual pattern worth watching.
What is the homeownership rate in East Lansing, Michigan?
33.2% of households in East Lansing, Michigan own their home, lower than the Michigan average of 64.6%.
What is the vacancy rate in East Lansing, Michigan?
The housing vacancy rate in East Lansing, Michigan is 11.4%, lower than the Michigan average of 11.8%.
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