Commercial Real Estate Market in Lansing, MI
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
465 active listings and 6,570 off-market properties in Lansing, MI. Commercial property asks $71/SF to buy and $19.95/SF/Yr to lease.
Market Trends
Lansing, MI spans 96.1 square miles in Ingham County, Michigan. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Lansing, MI runs 21.3% across the Midwest region in 2025, up from 13.7% in 2019.
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in Lansing, MI runs 4.9% across the Midwest region in 2025, up from 4.4% in 2019. Nearly 1.6x the 2022 low of 3.1%.
Vacancy Rate % in Midwest region
Multifamily
Multifamily vacancy in Lansing, MI runs 8% across the Midwest region in 2025, up from 6.5% in 2022.
Vacancy Rate % in Midwest region
Zoning & Land Use
Land Use Mix share of zoned land by category
- Residential 53.2%
- Commercial 18.4%
- Industrial 12.4%
- Mixed use 9.5%
- Civic 6.6%
Largest Zones share of zoned land by district
Residential
Residential
Industrial
Multifamily Residential
Mixed Use Urban Corridor
Lansing, MI zones 17,316 acres across 14 districts. Commercial zoning covers 18.4% of zoned land, residential 53.2% and industrial 12.4%. The largest single district is Residential at 43.8%. For commercial buyers the practical constraint is that only 30.8% of land carries a commercial or industrial designation.
Market overview
Demographics & Economy
Lansing, MI has 161,419 residents in 79,278 households. Density runs 1,679 people per square mile. Median household income here is $58,440 and median gross rent $1,014 a month.
161,419
Population
79,278
Households
2
Avg Household Size
36
Median Age
33%
College-Educated
91%
High-School Grad
96.1 sq mi
ZIP Area
1,679
Density / Sq Mi
$58,440
Median Household Income
$38,719
Median Earnings
$1,014
Median Rent
$145,448
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| East Lansing | — | $20.99 |
| Dewitt | — | — |
| Holt | — | $13.25 |
| Okemos | — | $31.46 |
Commercial property in Lansing, MI asks $71/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Lansing?
Commercial property in Lansing, MI asks an average of $71 per square foot. The 4 most recent recorded sales traded at a median of $53/SF, so asking sits 33% above the achieved median.
How much does it cost to lease commercial space in Lansing?
Asking lease rates in Lansing, MI average $19.95 per square foot per year.
What zoning applies to commercial property in Lansing?
Lansing, MI zones 17,316 acres across 14 districts, of which 18.4% is commercial and 12.4% industrial. The largest single district is Residential at 43.8% of zoned land. Residential zoning covers 53.2% and open space 0%.
Where does Realmo's Lansing market data come from?
Realmo compiles Lansing, MI figures from 5 recent recorded sales, 309 active sale listings, 156 active lease listings, 6,570 tracked off-market properties, the current Lansing zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 309 active for-sale and 156 active for-lease listings in Lansing, MI. These are ASKING figures from live listings, not closed-transaction prices, and a segment carried by a handful of listings reads as indicative rather than an average.
- Vacancy rates
- Published per-sector market series, taken at the metro level where one exists and otherwise at the Census-region level — a chart reading "in <region> region" is a regional number, not this city's.
- Zoning and land use
- The current municipal zoning release: 17,316 zoned acres across 14 districts. Shares are of zoned land, so parcels the release leaves unclassified are excluded from the mix.
- Refresh
- The monthly aggregates close at the end of the previous month, so 31 August 2026 — not today — is the honest last update.
- Known limitations
- office vacancy is reported at Midwest region level, industrial vacancy is reported at Midwest region level and multifamily vacancy is reported at Midwest region level.
- Coverage
- Metrics below the 10-observation threshold fall back one geographic level. The geography used is named on each figure.
Compiled by the Realmo Data team · reviewed 31 August 2026 · report a data issue
