The National Weather Service says the Grand River should drop to 11 feet by Monday after peaking at 14.6 feet Friday.
The Red Cedar River, which flows through MSU, reached more than 10 feet Thursday but should fall to 7 feet by Monday night.
Michael Tobin, emergency management chief at the Lansing Fire Department, says some neighborhoods still could see days of high water.
Among officials that toured the area Friday were Lt. Governor Brian Calley and Lansing Mayor Andy Schor.
“This is truly an historic flood,” Calley said. “And the amount of areas that are impacted and both the households and the businesses and the infrastructure, it will take some time to assess what the overall and long-term impacts of it are.”
Schor said it is safe for residents to return to their homes, but he was not “telling them what it might look like inside when they get in their basements.”
Drones captured some parts of the MSU campus were totally underwater, including the baseball and softball fields.
In Grand Rapids, the Grand River could crest at roughly 21 feet Sunday, the second-highest level on record in the city. The Kent County health department is warning residents to avoid contact with the water because of possible contaminants.
Recreational use of the Grand River is prohibited in Grand Rapids.
© Copyright 2018 CBS Broadcasting Inc. All Rights Reserved. The Associated Press contributed to this report.