48911, Lansing, MI

The zip code of 48911 in Lansing, MI has a median home value of $128,000. This is significantly lower than the state median home value of $217,500. The reason for this discrepancy is likely due to the high level of foreclosures and short sales in this area.

Despite the low median home values, there are still a number of homes for sale in 48911. There were 1,812 homes listed for sale in April 2018 and there have been an average of 1,906 homes listed each month since then. This indicates that there is still demand for housing in this area despite the depressed prices.

One potential reason why prices may not be rising as quickly as they could is that interest rates are still relatively low. The Federal Reserve has been slowly raising interest rates over the past few years and this could be limiting how much buyers can afford to pay for houses and condos. If interest rates continue to rise, then it is likely that prices will increase more rapidly than they have been currently.