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 Lansing, Michigan rental market.
Lansing, Michigan
Average Apartment Rent
$1,175
Y-o-Y Change in Average
Apartment Rent
5%
As of November 2024
Compared to a year ago, Lansing, Michigan apartments have recorded a 5% rent increase.
Lansing, Michigan Average apartment rent trend
Lansing, Michigan Average Apartment Rent
Lansing, Michigan Apartment rent ranges
At 43.48%, apartments priced $1,000 - $1,500 represent the bulk of Lansing, Michigan rentals, while condos priced $500 - $700 hold the lowest share of the market – 2.47%.
Lansing, Michigan Housing tenure**
Renters take up 47% of Lansing, Michigan real estate, occupying a total of 23,394 units, while homeowners live in 26,743 properties.
Median number of rooms of renter-occupied housing units**
4.3
Renter median household income**
$36,572
Average household size of renter-occupied housing units**
2.07
Rental vacancy rate**
5.1%
Lansing, Michigan Renter-occupied housing units by no. of bedrooms**
There are 9,777 rentals in 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 (1%), amounting to 203 units. Overall, the median number of rooms in Lansing, Michigan homes for rent is 4.3.
Lansing, Michigan Renter-occupied units by age of householder**
Most condos for rent in Lansing, Michigan are occupied by residents in the 25 - 34 years age group (33%), followed by those in the 15 - 24 years age group (17%). At the same time, people in the 85 years and over age group make up the lowest share of the local rental market – 1%.
Lansing, Michigan Renter-occupied housing units by family type**
Lansing, Michigan Renter-occupied housing units by the presence of own children**
A total of 8,950 apartments for rent in Lansing, Michigan, or 38% of all rentals are family households. Additionally, 24% of rental homes include children under the age of 18 – that’s 5,572 units. All in all, the median size of a renter-occupied household in Lansing, Michigan is 2.07.
Lansing, Michigan Renter-occupied housing units by educational attainment**
In terms of education, renters holding bachelor degrees or higher make up 26% of the rental market. In contrast, residents with less than a high school degree reside in 11% of the homes for rent in Lansing, Michigan.
Lansing, Michigan Renter-occupied units by year structure built**
The highest share of Lansing, Michigan apartment rentals, namely 20% or 4,767 units, were Built 1939 or earlier, followed by those Built 1970 - 1979 (20%, 4,678 units), and the ones Built 1960 - 1969 (14%, 3,347 units).
Lansing, Michigan Renter-occupied units by year householder moved in**
Median year renter moved into unit 2018
Most Lansing, Michigan renters (41%) moved in 2018 to 2020, while only 2% of them moved in 1990 to 1999. Overall, the median year renters have occupied their Lansing, Michigan condos for rent is 2018.
Lansing, Michigan Renter-occupied housing units by vehicles available**
When it comes to transportation options, 52% of Lansing, Michigan renters have 1 vehicle available per household, 21% of them have No vehicle available, and 21% have 2 vehicles available.
Lansing, Michigan Means of transportation to work of householders living in renter-occupied housing units**
Lansing, Michigan Geographical mobility in the past year for householders living in renter-occupied housing units**
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 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
