Mortgage payment estimates, closing cost breakdowns, and homebuying data for Lansing, Michigan.
Pre-filled with Lansing median home price and Michigan tax/insurance rates. Adjust for your property.
Estimated closing costs based on Michigan rates and fees applied to Lansing prices.
The median home price in Lansing is $165,000, 31% below the Michigan state median of $240,000. With a population of 112,644, Lansing is a mid-size city where home prices tend to be more accessible than in many parts of Michigan.
Property taxes in Michigan average 1.54% annually. This higher-than-average tax rate means a $165,000 home in Lansing would carry roughly $212/month in property taxes alone — plan accordingly. Homeowners insurance in Michigan runs approximately $1,800 per year. This is within the normal range nationally.
Average rent in Lansing is $1,020/month. With a price-to-rent ratio under 15, buying may be more cost-effective than renting in Lansing over the long term.
Lansing offers strong affordability. With median prices under $250K, first-time buyers have realistic paths to homeownership, especially combined with Michigan's MSHDA DPA program.