Lansing’s real estate market is experiencing notable changes, with rising home values and significant new developments reshaping the city’s housing landscape.
Market Trends
As of March 2026, the median sale price for homes in Lansing reached $153,000, marking a 10.7% increase from the previous year. Homes are selling faster, averaging 40 days on the market compared to 44 days last year. However, the number of homes sold in March decreased to 113 from 134 the previous year, indicating a tightening market.
New Developments
Several significant projects are underway to address housing demand and revitalize downtown Lansing:
- New Vision Lansing: This initiative comprises five mixed-use developments, including the 26-story Tower on Grand and the historic Ingham Building. Collectively, these projects will add 573 residential units, with at least 150 designated as workforce housing.
- Turner North: Located in Old Town, this development will introduce 76 workforce housing units, enhancing the neighborhood’s vibrancy and walkability.
- Riverview 220 and Grand Vista Place: These projects will provide over 100 affordable apartments, addressing the city’s need for low-income housing options.
Rental Market
The rental market in Lansing remains competitive, with an average rent of $1,211 as of December 2025, reflecting a 5.5% year-over-year increase. This trend underscores the growing demand for rental properties in the area.
Looking Ahead
With ongoing developments and a dynamic market, Lansing offers opportunities for both buyers and renters. Staying informed about these trends is essential for making strategic housing decisions in the city.