How much is a home worth in ZIP code 48842?

The typical home in 48842 is worth $271,914, based on the Zillow Home Value Index.

Are home values rising in 48842?

Home values in 48842 are up 2.9% over the past year, and up 5.9% a year over five years.

What is the typical rent in 48842?

A typical home in 48842 rents for about $2,031 a month, a gross rental yield of 9.0%.

What is the property tax rate in 48842?

The effective property tax rate in 48842 is 1.9% — roughly $5,127 a year on a typical home.

ZIP code 48842 has a population of 21,945 and a median household income of $88,340.

HousingHandbookReference data

…

U.S. ZIP Code · MI48842

Ingham County · Lansing-East Lansing, MI

Typical home value

$271,914^[1]

Zillow Home Value Index, as of April 2026

Appreciation

1-year: +2.9%
5-year / yr: +5.9%
10-year / yr: +6.9%

Relative price

vs U.S.: -4.3%
vs metro: +4.8%
vs state: +13.7%

Price history

Zillow Home Value Index — monthly, smoothed and seasonally adjusted.

The typical home in 48842 is worth $271,914 — 4.8% above the Lansing-East Lansing, MI median. Over the past year, values have risen 2.9%. Homes here rent for a typical $2,031 a month — a 9.0% gross rental yield. The effective property tax rate is 1.9%.

#Rent & investment

Typical asking rent, and the returns it implies at the current home value.

Monthly rent: $2,031^[2]
Gross yield: 9.0%^[2]
Cap rate: 5.4%^[2]

#Property tax

Effective rate — total real estate taxes paid relative to total home value.

Effective tax rate: 1.9%^[3]
Typical annual tax: $5,127^[3]

#Climate risk

FEMA National Risk Index ratings for Ingham County. "Not Applicable" means the hazard does not threaten the county.

Overall risk: Relatively Moderate^[4]
Riverine flood: Relatively Moderate
Coastal flood: Not Applicable
Wildfire: Very Low
Drought: No Rating
Heat wave: Relatively Low
Hurricane: Very Low
Tornado: Relatively High
Earthquake: Relatively Low
Winter weather: Relatively Moderate

#Who lives here

Population: 21,945^[3]
Median household income: $88,340^[3]

#Migration

Household moves in and out of Ingham County over a year, from IRS tax-return data.

Net migration: -616^[5]
Moved in: 8,474
Moved out: 9,090

Schools

Open public schools in this ZIP, from the NCES Common Core of Data.

Public schools: 8
Elementary: 4
Middle: 3
High: 1

Holt Senior High School
High · Grades 9–12 · Holt Public Schools
1,569 students
Holt Junior High School
Middle · Grades 7–8 · Holt Public Schools
701 students
Elliott Elementary School
Elementary · Grades K–4 · Holt Public Schools
391 students
Horizon Elementary School
Elementary · Grades K–4 · Holt Public Schools
390 students
Washington Woods Middle School
Middle · Grades 5–6 · Holt Public Schools
370 students

Run the numbers

Interactive calculators pre-filled with this ZIP's typical home value, rent, and property-tax rate. Edit any field to recompute.

Home value$Monthly rent$

Gross yield9.0%

Net yield (after ~40% expenses)5.4%

Annual rent$24,371

Gross and net yield are estimates based on the inputs and the selected expense ratio. Actual income and expenses will vary by property and market. Not investment advice.

Home price$Down payment%Interest rate%Loan termyears

Monthly payment$1,375

Loan principal$217,531

Down payment$54,383

Total interest paid$277,449

Estimated monthly payments include principal and interest only. Actual costs will include property tax, insurance, possibly PMI, and HOA fees not modeled here. Loan terms shown are estimates; consult a licensed lender for current rates and qualification.

Home price$Monthly rent$Down payment%Mortgage rate%Property tax rate% / yrMaintenance% / yrRule of thumb: 1% of home value per year.

Own : rent ratio1.00

Monthly cost to own$2,030

Monthly rent$2,031

Owning and renting are roughly even.

This calculator projects multi-year scenarios based on assumptions about appreciation, rent growth, and investment returns — none of which are guaranteed. Actual outcomes depend on variables this tool cannot know. Not financial or real estate advice.

#Metro ranking

Where this ZIP sits among others in its metro area.

Appreciation: 92nd percentile^[1]
Rental yield: 75th percentile^[2]
Property tax: 92nd percentile^[3]

Frequently asked

How much is a home worth in ZIP code 48842?: The typical home in 48842 is worth $271,914, based on the Zillow Home Value Index.
Are home values rising in 48842?: Home values in 48842 are up 2.9% over the past year, and up 5.9% a year over five years.
What is the typical rent in 48842?: A typical home in 48842 rents for about $2,031 a month, a gross rental yield of 9.0%.
What is the property tax rate in 48842?: The effective property tax rate in 48842 is 1.9% — roughly $5,127 a year on a typical home.
Who lives in 48842?: ZIP code 48842 has a population of 21,945 and a median household income of $88,340.

#Comparable ZIPs

Same metro, nearest typical home value. Each card shows the comparable ZIP's headline numbers so you can scan at a glance.

48854 vs 48842 →
Mason, MI
Typical home
$278,515
Gross yield
—
48917 vs 48842 →
Waverly CDP, MI
Typical home
$263,076
Gross yield
6.3%
48892
Webberville, MI
Typical home
$282,487
Gross yield
—
48819
Dansville, MI
Typical home
$284,248
Gross yield
—
49264
MI
Typical home
$259,437
Gross yield
—
48827
Eaton Rapids, MI
Typical home
$253,503
Gross yield
—

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#Jump to section

U.S. ZIP Code · MI48842

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