The housing market in the Lansing-East Lansing, MI Metro Area is relatively affordable compared to the national median; however, it also experiences a slower rate of appreciation. The median house value in the area is $194,800 and the US house median value is $338,100. In the past year, while the national house appreciation rate was 8.27%, it was 6.69% for the Lansing-East Lansing area. This suggests that housing in this metro area has more potential for stability and long-term investments than other markets across the country.
The median home cost in Lansing-East Lansing Metro Area is $194,800. Home appreciation the last 10 years has been 96.8%. Home Appreciation in Lansing-East Lansing Metro Area is up 11.8%.
Average Age of Homes
- The median age of Lansing-East Lansing Metro Area real estate is 45 years old
The Rental Market in Lansing-East Lansing Metro Area
- Renters make up 32.1% of the Lansing-East Lansing Metro Area population
- 1.8% of houses and apartments in Lansing-East Lansing Metro Area, are available to rent
DID YOU KNOW
Buying a home is the biggest single purchase most people make during their lives. The second largest is most often an automobile.