Lansing-East Lansing, MI · Michigan
Ingham County
ZIP 48840
282,015 residents536 permits TTM$64,354 median HHI18 ZIP codesUpdated April 16, 2026
Investor first look
Median home value
$187,500
ACS 5-Year
Cap rate proxy
6.8%
FMR × 0.65 ÷ Home Value
Rent-to-income
19.7%
HUD FMR ÷ ACS HHI
Net migration
+2.02%
IRS SOI
Permits (TTM)
536
Census BPS
Climate risk
87.2
FEMA NRI (0–100)
ZIP 48840
Median home value
—
Gross yield
—
Cap rate
5.6%
Rent gap
—
Affordability
P/I: 4.6R/I: 25.9%
Section 8 detail
SAFMR: —Rent: —Gap: —
ZIP code breakdown18 ZIP codes
| ZIP | Median home value | Rent (FMR 2BR) | Gross yield | Cap rate | Rent gap |
|---|---|---|---|---|---|
| 48915 | — | — | — | 10.7% | — |
| 48912 | — | — | — | 12.4% | — |
| 48933 | — | — | — | 6.9% | — |
| 48911 | — | — | — | 8.0% | — |
| 48824 | — | — | — | 6.8% | — |
Ranked by composite score
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Demographics
Owner-occupied
59.5%
Census ACS
Vacancy rate
7.3%
Census ACS
Bachelor's degree +
41.3%
Census ACS
Rent burdened
49.2%
Census ACS (>30% income)
Median age
33.3
Census ACS
U.S. Census Bureau — American Community Survey 5-Year Estimates
U.S. Census Bureau — Building Permits Survey
U.S. Department of Housing and Urban Development — Fair Market Rents / Small Area Fair Market Rents (SAFMR)
Internal Revenue Service — Statistics of Income Migration Data
FEMA — National Risk Index
Last updated: April 16, 2026