Rent, population, and median household income are important factors to consider for a 1031 exchange in Lansing due to their correlations with market demand, and conversely, vacancy rate.
Surrounding metropolitan area Area
Lansing, Michigan is a part of the Lansing-East Lansing, MI metropolitan area area, and contains 22 zip codes, including: 48915, 48937, 48929, 48916, 48930, and 48912.
Lansing Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Lansing, MI metropolitan area area was $867, which is 13.78% lower than 2014 average rent. This represents a compounded annual growth rate of 2.62%. 2019 vacancy in Lansing, MI was 2.50%.
The total population of the city of Lansing, MI has grown 3.61% since 2010. As of 2018, the population was 118,427. The median household income of the Lansing was $40,325, which is 33.12% lower than the national average.
- metropolitan area area Lansing-East Lansing, MI
- avg rent $867
- rent growth 13.78%
- vacancy 2.50%
- median income $40,325
- population (2018) 118,427
- population growth 3.61%
- vs. nat'l avg 33.12%
- zip codes 48901 48906 48908 48909 48910 48911 48912 48913 48915 48916 48917 48918 48919 48922 48924 48929 48930 48933 48937 48951 48956 48980
