ZIP Code Market Report
48906 — Lansing, MI
Data through February 2026 · Updated monthly
Avg Home Value
$160,456
▲ 2.5% year-over-year
Month-over-Month
-0.8%
▼ 0.8%
Single Family
$155,921
Condo / Co-op
$211,037
The average home value in the 48906 ZIP code (Lansing, Michigan) is $160,456 as of February 2026. Home prices are rising, up 2.5% compared to last year.
A 3-bedroom home in 48906 is valued at $190,042. 1-bedroom units start around $74,167. Single-family homes average $155,921, while condos average $211,037.
The market in 48906 has a $185,028 spread between bottom-tier homes at $93,072 and top-tier homes at $278,100. Bottom-tier properties represent the primary opportunity range for real estate investors using the 70% rule, fix-and-flip, or BRRRR strategies.
Looking ahead, Zillow's forecast model projects home values in the 48906 ZIP code will increase 0.1% over the next 12 months, bringing the projected average to approximately $160,617. This modest projected change should be factored into any investment analysis for properties in this area.
This report is part of the Clinton County market area in Michigan. For a broader view of the housing market including rent data, market activity, and affordability analysis, see the full Clinton County report.
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Market Snapshot
48906 Housing Market at a Glance
Key metrics for the last 3 months with trend direction.
| Metric | Dec 2025 | Jan 2026 | Feb 2026 | 3-Mo Change |
|---|---|---|---|---|
| Avg Home Value | $162,964 | $161,811 | $160,456 | ▼ 1.5% |
| Single Family Value | $153,935 | $155,036 | $155,921 | ▲ 1.3% |
Home Values
48906 Home Value Trend
Historical home values for ZIP code 48906. Switch between All Homes, Single Family, Bottom Tier, and Top Tier.
Source: Zillow Research ZHVI / ZORI · Updated monthly
By Bedroom
What Homes Cost in 48906
Median home values by bedroom count in this ZIP code.
| Bedrooms | Median Value |
|---|---|
| 1 Bedroom | $74,167 |
| 2 Bedrooms | $108,696 |
| 3 Bedrooms | $190,042 |
| 4 Bedrooms | $247,194 |
Property Types
Home Values by Property Type in 48906
How different property types compare in this ZIP code.
All Homes
$160,456
Single Family
$155,921
Condo / Co-op
$211,037
Bottom Tier
$93,072
Top Tier
$278,100
Forecast
12-Month Home Value Forecast for 48906
Zillow projects home values in 48906 will increase 0.1% over the next year, reaching approximately $160,617.
Current Value
$160,456
Projected Change
+0.1%
▲ 0.1%
Projected Value
$160,617
Source: Zillow Home Value Forecast (ZHVF). Forecasts are not guarantees.
Data Sources and Methodology
Home value data for ZIP code 48906 comes from the Zillow Home Value Index (ZHVI), updated monthly. ZHVI measures the typical home value using Zillow's automated valuation model, smoothed and seasonally adjusted.
This report was last updated February 2026. Data is refreshed on the 17th of each month.
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