Quick facts: Lansing, MI

Quick Facts

94.9
Cost of Living
below US average
112,537
Population
39.71
Crime Rate per 1000
above US average
$50,747
Median Income
below US average
$129,900
Median House Price
above US average
$1115.0
Average Rent
below US average
19%
Poverty Rate
above US average
7.4%
Unemployment Rate
above US average

πŸ’΅ Affordability Calculator

Based on the 28/36 rule: housing costs should not exceed 28% of your gross income. Compared against local median income of $50,747.

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Income Needed to Buy

βœ“ Affordable
$41k/year
Based on $129,900 median home price
Assumes 30-year mortgage at 7% with 20% down payment
πŸ“Š Median income ($50,747) exceeds requirement
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Income Needed to Rent

βœ“ Affordable
$48k/year
Based on $1115.0/month average rent
Annual income where rent = 28% of gross
πŸ“Š Median income ($50,747) exceeds requirement
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Lansing, MI

Lansing is the capital city of Michigan, located in the central part of the state. As the seat of Ingham County, Lansing is known for its vibrant political scene, being the hub of Michigan's government activities. The city is home to Michigan State University, one of the largest and most prestigious universities in the United States, contributing to the city's youthful energy and diverse culture. Lansing offers a variety of attractions, including the Michigan State Capitol, where visitors can explore its stunning architecture and historical significance. The city also boasts a rich arts scene, with venues such as the Wharton Center for Performing Arts and the Lansing Art Gallery. Outdoor enthusiasts can enjoy parks and trails along the Grand River, providing ample opportunities for recreational activities. Culturally, Lansing is a melting pot, with a range of festivals and events that celebrate its heritage, including the Lansing JazzFest and the Michigan State Fair. The local economy is supported by government, education, healthcare, and manufacturing sectors. Overall, Lansing presents a blend of history, culture, and modernity, making it a unique place to live and visit.

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