Sell Your Commercial Property In Lansing, MI

Who rents in Lansing

Lansing has 23,817 renter households, or 46.2% of its 51,588 occupied homes, per ACS 2020-2024 table B25003. Ingham County's renter share is 40.5%, or 47,469 households, in the county table. Michigan as a whole rents at 26.8%.

Lansing's population is 113,023 in the ACS 2020-2024 estimates. Lansing city limits cross into Eaton and Clinton counties. County figures on this page use Ingham County only, and city figures cover all of Lansing.

Large employers anchor the renter base. HUD's 2022 Lansing-East Lansing housing market analysis lists the State of Michigan as the top area employer with 15,729 workers. Michigan State University follows with 10,253, and General Motors lists 4,549.

Michigan State University sits in East Lansing, a separate city and a separate Census place. MSU enrolled 51,838 students in fall 2025, per MSU Today. Okemos, Holt and Delta Township are also outside Lansing city limits, so their renters are not in these counts.

Rents and affordability in Lansing

Median gross rent in Lansing is $993 a month, per ACS 2020-2024 table B25064. Ingham County's median is $1,084. Lansing's median household income is $54,382, so a median rent takes about 21.9% of a median income.

Rent burden is still heavy for many Lansing tenants. In table B25070, 47.6% of Lansing renter households, about 11,326, pay 30% or more of income for rent. Another 23.8%, or 5,666 households, pay 50% or more.

Rental vacancy is 5.1% in Lansing and 5.6% in Ingham County, per ACS table DP04. Under HUD's FY2027 fair market rents for the Lansing-East Lansing, MI MSA, a two-bedroom is $1,323. That is 33.2% above Lansing's $993 median, which blends every unit size.

Source: HUD FY2027 FMR documentation, effective October 1, 2026. Owners selling commercial property in Lansing can compare their rent rolls with this table.

Lansing apartment stock

Buildings with five or more units hold 13,854 of Lansing's 55,943 homes, or 24.8%, per ACS table B25024. That share is close to Ingham County's 26.1% and nearly double Michigan's 13.3%. Lansing has 4,011 units in buildings of 50 or more.

Mid-size buildings are the core of the stock. Lansing counts 3,065 units in 5-9 unit buildings and 4,840 in 10-19 unit buildings. Another 1,938 sit in 20-49 unit buildings.

Small rentals matter too. Two- to four-unit buildings hold 4,172 Lansing homes, or 7.5% of the total. Single-family detached homes make up 61.9% of Lansing's housing, per the same ACS 2020-2024 table.

The stock is old. In table B25034, 79.5% of Lansing homes, or 44,471, were built before 1980. The median year built is 1959, against 1971 in Ingham County.

New supply is thin. Only 494 Lansing homes, or 0.9%, date from 2020 or later. Owners who plan to sell commercial real estate in Lansing, MI should expect buyers to price roofs, boilers and wiring into offers.

Property taxes in Ingham County

Michigan assesses property at 50% of true cash value, under MCL 211.27a. Taxable value can rise by no more than 5% or inflation each year. After a transfer of ownership, taxable value resets to state equalized value the following year.

The City of Lansing Treasury millage library lists 2025 levies of 19.4400 mills for city operations and 3.5000 mills for public safety. Lansing School District levies 17.4478 operating mills, 4.1000 debt mills and 2.9468 sinking fund mills. The State Education Tax is 6.0000 mills, and Lansing Community College levies 3.7550.

School operating mills fall on non-homestead property such as apartments, since MCL 380.1211 exempts principal residences. Those seven levies total 57.1896 mills. County, intermediate school district, CATA, library and airport levies are added on the bill.

Worked example: a $2,000,000 sale assessed at that price has a state equalized value of $1,000,000. After uncapping, taxable value is $1,000,000. At 57.1896 mills, those seven levies alone come to $57,189.60 a year, or 2.86% of price.

Transfer taxes add a one-time cost. The state rate is $3.75 per $500 under MCL 207.525, or $15,000 on $2,000,000. Ingham County's rate is 55 cents per $500 under MCL 207.504, or $2,200.

Appeals start at the March board of review, which MCL 211.30 sets for the second Monday in March. Commercial-class parcels may instead petition the Tax Tribunal by May 31 under MCL 205.735a. If you plan to sell commercial property in Lansing, MI, have the buyer's tax estimate use the uncapped figure.

Landlord rules in Lansing

• Security deposits cannot exceed 1.5 months' rent under MCL 554.602.
• An itemized damage list is due within 30 days after occupancy ends, under MCL 554.609.
• Nonpayment allows a written 7-day notice to quit, and tenancies at will need 1 month's notice, per MCL 554.134.
• Local rent control is barred: MCL 123.411 says a local unit shall not enact or enforce an ordinance controlling private residential rents.

Lansing requires registration of all rental properties except owner-occupied single-family homes, per the city's code enforcement procedures. A passed inspection earns certification, and failed items get 30 days to comply. Details are on the Rental Registrations page.

What it means for an owner in Lansing

Lansing pairs a 46.2% renter share with a $993 median rent and a stock where 79.5% predates 1980. Buyers will underwrite an uncapped tax bill, deferred repairs and rental certification status. They will also compare your occupancy with Lansing's 5.1% rental vacancy rate from ACS 2020-2024. A clean registration file and current rent roll shorten due diligence.

To sell commercial property in Lansing, MI on a fixed timeline, start with the numbers. Run your rent roll through our cap rate calculator and compare it with the 57.1896-mill tax load above.

Skyline Capital Investments buys 5+ unit apartment buildings, including older properties with deferred work. If you want to sell your apartment building in Lansing, see how our direct purchase process works. We can also review a portfolio of several Lansing addresses in one offer.