East Lansing, Michigan Rental Market Trends
Any shifts in rent prices brought forth by the COVID-19 pandemic are not yet reflected in the statistics on this page. Please bear this in mind when referencing the data below, as it may not accurately describe the current context of the East Lansing, Michigan rental market.
East Lansing, Michigan
Average Apartment Rent
$1,718
Y-o-Y Change in Average
Apartment Rent
9.1%
As of November 2024
Compared to a year ago, East Lansing, Michigan apartments have recorded a 9.1% rent increase.
East Lansing, Michigan Average apartment rent trend
East Lansing, Michigan Average Apartment Rent
East Lansing, Michigan Apartment rent ranges
At 46.05%, apartments priced $1,000 - $1,500 represent the bulk of East Lansing, Michigan rentals, while condos priced $700 - $1000 hold the lowest share of the market – 6.21%.
East Lansing, Michigan Housing tenure**
Renters take up 60% of East Lansing, Michigan real estate, occupying a total of 8,358 units, while homeowners live in 5,507 properties.
Median number of rooms of renter-occupied housing units**
3.7
Renter median household income**
$25,903
Average household size of renter-occupied housing units**
2.02
Rental vacancy rate**
7.9%
East Lansing, Michigan Renter-occupied housing units by no. of bedrooms**
There are 3,485 rentals in East Lansing, Michigan with 2 beds making up the highest share of the market, at 42%. Units with 5 or more beds, on the other hand, hold the lowest percentage (2%), amounting to 164 units. Overall, the median number of rooms in East Lansing, Michigan homes for rent is 3.7.
East Lansing, Michigan Renter-occupied units by age of householder**
Most condos for rent in East Lansing, Michigan are occupied by residents in the 15 - 24 years age group (61%), followed by those in the 25 - 34 years age group (23%). At the same time, people in the 55 - 59 years age group make up the lowest share of the local rental market – 1%.
East Lansing, Michigan Renter-occupied housing units by family type**
East Lansing, Michigan Renter-occupied housing units by the presence of own children**
A total of 976 apartments for rent in East Lansing, Michigan, or 12% of all rentals are family households. Additionally, 5% of rental homes include children under the age of 18 – that’s 387 units. All in all, the median size of a renter-occupied household in East Lansing, Michigan is 2.02.
East Lansing, Michigan Renter-occupied housing units by educational attainment**
In terms of education, renters holding bachelor degrees or higher make up 40% of the rental market. In contrast, residents with less than a high school degree reside in 1% of the homes for rent in East Lansing, Michigan.
East Lansing, Michigan Renter-occupied units by year structure built**
The highest share of East Lansing, Michigan apartment rentals, namely 20% or 1,630 units, were Built 1970 - 1979, followed by those Built 1990 - 1999 (16%, 1,377 units), and the ones Built 1980 - 1989 (15%, 1,272 units).
East Lansing, Michigan Renter-occupied units by year householder moved in**
Median year renter moved into unit 2019
Most East Lansing, Michigan renters (57%) moved in 2018 to 2020, while only 1% of them moved in 2000 to 2009. Overall, the median year renters have occupied their East Lansing, Michigan condos for rent is 2019.
East Lansing, Michigan Renter-occupied housing units by vehicles available**
When it comes to transportation options, 43% of East Lansing, Michigan renters have 1 vehicle available per household, 26% of them have 2 vehicles available, and 18% have No vehicle available.
East Lansing, Michigan Means of transportation to work of householders living in renter-occupied housing units**
East Lansing, Michigan Geographical mobility in the past year for householders living in renter-occupied housing units**
East Lansing, Michigan Average apartment rent by zip codes
The rental statistics on this page were compiled using data provided by our sister company, Yardi Matrix, an apartment market intelligence solution which offers comprehensive information on all East Lansing, Michigan apartment buildings 50 units or larger. Yardi Matrix covers ~80% of the U.S. metro area population, including over 80,000 properties and 15.2 million apartments across 124 U.S. markets.
*Average single-family rent calculated from point2homes.com data.
**Data sourced from U.S. Census Bureau; American Community Survey, 2022 American Community Survey 5-Year Estimates
