The typical owner-occupied home in East Lansing is worth about $270,800, 17% above the Michigan median of $231,600 and 19% below the national median of $332,700. Owners pay a median $5,599 a year in property taxes, about 2.07% of their home's value, higher than the Michigan rate of 1.25%. The median household earns $45,687 a year, so the median home costs 5.9 times the median income (3.2 times for Michigan). 39% of occupied homes here are lived in by their owners, and 59% of those owners still have a mortgage.
East Lansing at a glance
| East Lansing | Michigan | U.S. | |
|---|---|---|---|
| Median home value | $270,800 | $231,600 | $332,700 |
| Median property tax paid per year | $5,599 | $2,904 | $3,119 |
| Property tax as a share of value | 2.07% | 1.25% | 0.94% |
| Median household income | $45,687 | $72,875 | $80,734 |
| Homes lived in by their owners | 39% | 73% | 65% |
| Owner homes with a mortgage | 59% | 58% | 61% |
| Median monthly costs, owners with a mortgage | $1,940 | $1,569 | $1,963 |
| Those costs as a share of the owners' income | 18.2% | 19.3% | 21.0% |
| Median rent | $1,171 | $1,129 | $1,413 |
| Rent as a share of renters' income | 51.0% | 30.2% | 30.6% |
| Median year homes were built | 1975 | 1972 | 1980 |
| Vacant homes | 11.4% | 11.8% | 10.1% |
| Population | 45,758 | 10,077,761 | 334,922,499 |
What a typical home costs per month in East Lansing
At this week's average 30-year rate of 7.11%, buying the median East Lansing home of $270,800 with 20% down costs about $2,037 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $2,488, because the loan is bigger and FHA adds mortgage insurance.
Lenders usually want housing costs under about 28% of gross income, which means an income of roughly $87,313 for the 20%-down payment. That payment is 54% of the median East Lansing household income of $45,687; at that income and 20% down, the 28% guideline points to a home of about $142,000.
The median rent here is $1,171 a month, so owning the median home costs about $866 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $54,160 |
|---|---|
| Loan amount | $216,640 |
| Principal and interest | $1,457 |
| Property taxes (2.07% a year) | $467 |
| Homeowners insurance (our estimate, 0.5% a year) | $113 |
| PMI | $0 |
| Total per month | $2,037 |
Change the numbers in the calculator
| Down payment | $9,478 |
|---|---|
| Loan amount | $265,895 |
| Principal and interest | $1,789 |
| Property taxes (2.07% a year) | $467 |
| Homeowners insurance (our estimate, 0.5% a year) | $113 |
| FHA mortgage insurance | $120 |
| Total per month | $2,488 |
Change the numbers in the calculator
Questions about home buying in East Lansing
What is the median home value in East Lansing?
About $270,800 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in East Lansing?
Homeowners pay a median $5,599 a year, which is about 2.07% of the median home value. Your bill depends on your home's assessed value and local rates.
What income do you need to buy a home in East Lansing?
For the median home with 20% down at 7.11%, the payment is about $2,037 a month. Keeping that under 28% of gross income takes about $87,313 a year.
More about East Lansing
- Mortgage Refinance in East Lansing
- Debt Relief in East Lansing
- Home Equity Loans in East Lansing
- Guides and quotes for mortgage refinance on our sister site, MortgageRefinance.com
Sources: U.S. Census Bureau, American Community Survey 2020–2024 5-year estimates; Freddie Mac Primary Mortgage Market Survey, week of November 12, 2026. Estimates for small places have wide margins of error. About our data