Lansing, Michigan Short-Term Rental Market
Lansing, MI STRs averaged $161/night at 49.2% occupancy in April 2026, with a 97.3 investability score and $2,743 annual average monthly revenue.
Quick Answer: Lansing, Michigan is an active short-term rental market. average occupancy is 61%. average monthly revenue is $3,813. average daily rate is $248. the top operator is Evolve with 367 listings. market score is 80/100 (grade B).
Market data reflects the Michigan Area regional market, which includes Lansing. Regulations, taxes, and permit details below are specific to Lansing.
Market Score Breakdown
Five dimensions Apivex evaluates per market.
Market Overview
Lansing is Michigan’s state capital with 114,336 residents and approximately 6.7 million annual visitors, drawing a mix of government workers, conference attendees, Michigan State University visitors, museum tourists, and warm-weather leisure travelers. Key draws include the historic 1879 Michigan State Capitol (open for guided tours), the R.E. Olds Transportation Museum, the Lansing River Trail (a 13-mile paved path), and Michigan History Center.
The STR market recorded an average daily rate of $161 and occupancy of 49.2% in April 2026, producing RevPAR of $79.29 and average monthly revenue of $1,955 per listing. Year-over-year, revenue declined 2.2% as a 3.1% ADR gain was more than offset by a 0.2-percentage-point occupancy decline. April is a shoulder month; the 2025 annual average of $2,743 per month better represents typical performance.
The market hosts 9,130 active listings. Entire-place rentals represent 8,475 units (92.8% of total), with 651 private-room listings and 4 shared rooms. Channel distribution: 4,192 Airbnb-only, 3,798 on both Airbnb and VRBO, and 1,140 VRBO-only.
By bedroom count, 2-bedroom units lead at 2,623 listings, followed by 3-bedroom (2,498), 1-bedroom (2,252), 4-bedroom (1,102), and 5-bedroom (630). The balanced bedroom distribution reflects the mix of MSU-adjacent student demand, conference travelers, and leisure guests.
The composite market score of 79.7 is anchored by an investability rating of 97.3, the highest in this batch, reflecting affordable entry costs relative to STR income in a capital-city market with stable, diversified demand.
Seasonal Patterns
| Month | Occupancy | ADR | Revenue |
|---|---|---|---|
| Jan | 39% | $144 | $1,621 |
| Feb | 44% | $146 | $1,641 |
| Mar | 44% | $136 | $1,696 |
| Apr | 48% | $143 | $1,717 |
| May | 52% | $172 | $2,023 |
| Jun | 62% | $214 | $3,176 |
| Jul | 71% | $218 | $4,112 |
| Aug | 64% | $214 | $3,777 |
| Sep | 46% | $187 | $2,375 |
| Oct | 45% | $164 | $2,116 |
| Nov | 42% | $148 | $1,770 |
| Dec | 45% | $150 | $1,815 |
Top Short-Term Rental Operators in Lansing
Ranked by total active listings. Useful for understanding the competitive landscape.
| # | Operator | Listings | Reviews | Rating |
|---|---|---|---|---|
| 1 | Evolve | 367 | 11,455 | ★ 4.68 |
| 2 | Freshwater Vacation Rentals | 61 | 2,578 | ★ 4.85 |
| 3 | LiveSuites | 59 | 1,209 | ★ 4.67 |
| 4 | Short Term Rentals | 31 | 2,493 | ★ 4.68 |
| 5 | Simple Lyfe Stays | 29 | 2,365 | ★ 4.85 |
What Kind of STR Should I Buy in Lansing?
Revenue and pricing by property type, tier, and bedroom count.
Revenue by Bedroom Count
| 1 bed | 2,252 |
| 2 bed | 2,623 |
| 3 bed | 2,498 |
| 4 bed | 1,102 |
| 5 bed | 630 |
ADR by Property Tier
| Entire Home | $260 |
| Luxury | $447 |
| Professionally Managed | $291 |
Revenue by Dwelling Type
| Apartment | $2,328 |
| Entire Place | $3,984 |
| House | $4,148 |
Booking Channel Mix
Distribution of bookings across major STR platforms.
| Channel | Share |
|---|---|
| airbnb | 45.9% |
| vrbo | 12.5% |
| both | 41.6% |
Investment Analysis
Lansing STRs generated an average of $1,955 per month in April 2026, a shoulder month. The 2025 full-year annual average of $2,743 per month (explicit 2025 annual average basis) is the more appropriate underwriting figure, annualizing to approximately $32,900. No Zillow housing data is available for this market through our source; gross yield calculations require current comparable Lansing sale data obtained independently.
The investability score of 97.3 out of 100 is the highest in this batch, likely reflecting that Lansing home prices are relatively affordable for Michigan’s Great Lakes region, making STR income yields attractive relative to entry cost. The revenue growth score of 80.4 suggests continued above-median income appreciation potential.
Rate segmentation shows meaningful tier differentiation. Luxury-tier listings averaged $335 per night, 107.9% above the market-wide $161. Professionally managed properties averaged $179 per night (11.1% above market). Entire-home listings averaged $173 per night, a 7.4% premium over the overall average.
Revenue by property type: houses averaged $2,081 per month and entire-place listings $2,059 per month in April 2026. Apartments averaged $1,520, a $539 gap below entire-place performance.
Annual revenue has grown from $1,698 per month (2017 annual average) to $2,743 in 2025, a 61.5% gain over eight years. The trajectory has been consistent, with the notable post-pandemic bounce in 2020-2021 followed by moderation and gradual recovery through 2025.
Revenue Trend (5 yr)
ADR & Occupancy Trends (5 yr)
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Booking Insights
Lansing guests book an average of 41 days in advance and stay an average of 4.2 nights per stay. The 41-day lead time is consistent with a state-capital market where travelers combine government-business visits with leisure, booking ahead to secure availability near MSU events, Capitol tours, and summer outdoor activities.
At 4.2 nights average length of stay, Lansing guests are staying slightly longer than a typical weekend. This likely reflects the blended guest mix: government and conference visitors on multi-night work trips, MSU event travelers staying for game-day weekends, and leisure guests using Lansing as a hub for exploring the broader Greater Lansing region.
With 4,192 Airbnb-only listings and 3,798 cross-listed, Airbnb dominates the channel landscape. VRBO’s share (1,140 VRBO-only plus 3,798 dual-listed) represents meaningful reach into the leisure-travel segment. For operators targeting leisure and vacation guests, cross-platform listing is important in a market where VRBO reach covers 54.1% of total listings.
Short-Term Rental Regulations
Lansing permits short-term rentals and distinguishes owner-occupied from non-owner-occupied operations. Owner-occupants using their primary residence as an STR are generally exempt from city rental registration and licensing. However, Michigan’s Principal Residence Exemption (PRE) for property taxes may be revoked if a primary residence is rented for more than 14 days per year; once PRE is lost, the property must be registered as a rental with the City.
Non-owner-occupied STRs must register with the City of Lansing Code Enforcement Division (316 N. Capitol Ave.) and pay a registration fee of approximately $100 per unit annually. Registration requires meeting life-safety standards, providing on-site paved off-street parking for all guests (street parking is prohibited from 2:00 to 5:00 a.m.), and observing occupancy limits that vary by zoning district. There is no citywide night cap.
On taxes, all Michigan STRs must collect and remit the state 6% lodging/use tax and register with the Michigan Department of Treasury. The Ingham County hotel excise tax (which the county raised from 5% to 8%, funding Choose Lansing and convention facilities) applies to hotels but has been reported as not applicable to Airbnb-style short-term rentals; the 6% state use tax is the primary applicable lodging tax for STRs.
Confirm the current registration fee, applicable zoning district rules, and occupancy limits directly with Code Enforcement (517-483-4361) before purchasing. The regulation score of 65.7 reflects a workable but compliance-specific framework requiring upfront registration and ongoing parking and occupancy compliance.
Market Comparison
Lansing’s April 2026 occupancy of 49.2% is below the approximate U.S. STR median of 55%, consistent with April’s shoulder position in a northern market. The 2025 annual average occupancy of 50.5% reflects the market’s stable but below-median demand when measured across all 12 months. The average daily rate of $161 is below the U.S. median of approximately $220, consistent with Midwest interior-city pricing.
Despite sub-median occupancy and ADR, the investability score of 97.3 is the highest in this batch, suggesting the income-to-cost ratio (which factors in home prices) is more favorable in Lansing than in higher-ADR coastal markets.
Property management in Lansing is dominated by Evolve with 367 listings and 11,455 reviews (rating 4.68), more than four times the next operator. Freshwater Vacation Rentals manages 61 listings (rating 4.85, 2,578 reviews). LiveSuites operates 59 listings (rating 4.67). Short Term Rentals holds 31 listings (rating 4.68) and Simple Lyfe Stays manages 29 listings (rating 4.85). The top five operators collectively manage 547 listings, approximately 6.0% of the 9,130-listing market.
Frequently Asked Questions About Lansing, Michigan
What permits are required for non-owner-occupied STRs in Lansing, MI?
What lodging taxes apply to Lansing STRs?
Can owner-occupants in Lansing rent their home without registering?
When is peak season for Lansing STRs?
What is the average monthly STR revenue in Lansing?
Who are the leading property managers in the Lansing STR market?
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