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Lansing vs Detroit for Rental Property Investing

Side-by-side comparison of Lansing, MI and Detroit, MI — cap rates, rent, prices, and investment metrics.

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Lansing wins 5–2 across key metrics
Lansing leads on cash flow (4.72% vs 4.70% cap rate)
Metric
Lansing, MI
Detroit, MI
Est. Cap Rate
4.72%
4.70%
Median Home Price
$165,000
$165,000
Median Monthly Rent
$1,020
$1,050
1% Rule
0.62%
0.64%
GRM
13.5x
13.1x
Price / Income
3.9x
4.6x
Property Tax Rate
1.42%
1.54%
Vacancy Rate
6.5%
7.8%
Population Growth
0.3% / yr
-0.1% / yr
Annual Appreciation
2.3%
2.1%
Population
112,020
632,464
Median Income
$41,800
$36,200

Lansing vs Detroit: Which Is Better for Investors?

Cash flow: Lansing has the edge with an estimated cap rate of 4.72% compared to Detroit's 4.70%. Neither city passes the 1% rule outright, so deal sourcing and value-add strategies become more important. Median home prices are $165,000 in Lansing vs $165,000 in Detroit, while rents come in at $1,020/mo and $1,050/mo respectively.

Growth & appreciation: Lansing is growing faster at 0.3% annually, while Detroit is losing population. Lansing leads on home value appreciation at 2.3% per year.

Costs & risk: Property taxes are 1.42% in Lansing vs 1.54% in Detroit. Vacancy rates of 6.5% and 7.8% are mixed — Lansing has the tighter rental market.

Bottom line: Lansing edges out Detroit on most key metrics. While cap rates are moderate at 4.72%, Lansing's overall profile is stronger. Use our free calculators to model specific deals in Lansing or Detroit.

Lansing, MI
4.72% cap rate · $165,000 median · $1,020/mo
Full analysis →
Detroit, MI
4.70% cap rate · $165,000 median · $1,050/mo
Full analysis →
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