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 in February 2022
$990
Y-o-Y Change in Average
Apartment Rent
9.3%
Compared to a year ago, Lansing, Michigan apartments have recorded a 9.3% rent increase.
Lansing, Michigan |Average apartment rent trend
Lansing, Michigan| Average apartment rent
Lansing, Michigan | Apartment rent ranges
At 46.94%, apartments priced $700 - $1000 represent the bulk of Lansing, Michigan rentals, while condos priced Under $500 hold the lowest share of the market – 0.16%.
Lansing, Michigan | Housing tenure**
Renters take up 49% of Lansing, Michigan real estate, occupying a total of 24,200 units, while homeowners live in 24,834 properties.
Median number of rooms of renter-occupied housing units**
4.2
Renter median household income**
$30,456
Average household size of renter-occupied housing units**
2.35
Rental vacancy rate**
6.4%
Lansing, Michigan | Renter-occupied housing units by no. of bedrooms**
There are 9,843 rentals in Lansing, Michigan with 2 beds making up the highest share of the market, at 41%. Units with 5 or more beds, on the other hand, hold the lowest percentage (1%), amounting to 239 units. Overall, the median number of rooms in Lansing, Michigan homes for rent is 4.2.
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 (31%), followed by those in the 35 - 44 years age group (16%). At the same time, people in the 85 years and over age group make up the lowest share of the local rental market – 2%.
Lansing, Michigan | Renter-occupied housing units by family type**
Lansing, Michigan | Renter-occupied housing units by the presence of own children**
A total of 10,427 apartments for rent in Lansing, Michigan, or 43% of all rentals are family households. Additionally, 28% of rental homes include children under the age of 18 – that’s 6,817 units. All in all, the median size of a renter-occupied household in Lansing, Michigan is 2.35.
Lansing, Michigan | Renter-occupied housing units by educational attainment**
In terms of education, renters holding bachelor degrees or higher make up 24% of the rental market. In contrast, residents with less than a high school degree reside in 10% 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 4,814 units, were Built 1970 - 1979, followed by those Built 1939 or earlier (19%, 4,511 units), and the ones Built 1960 - 1969 (16%, 3,961 units).
Lansing, Michigan | Renter-occupied units by year householder moved in**
Median year renter moved into unit2015
Most Lansing, Michigan renters (31%) moved in 2010 to 2014, while only 2% of them moved in 1989 or earlier. Overall, the median year renters have occupied their Lansing, Michigan condos for rent is 2015.
Lansing, Michigan | Renter-occupied housing units by vehicles available**
When it comes to transportation options, 51% of Lansing, Michigan renters have 1 vehicle available per household, 23% of them have 2 vehicles available, and 21% have No vehicle 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, 2019 American Community Survey 5-Year Estimates
