Leonard, MI—48367
Real Estate Data & Market Trends
Key Metrics at a Glance
Other Zip Codes in Leonard, MI
Home Price Trends — Leonard, MI
As of Oct '25, the median home price in Leonard, MI is $483,000, with a year-over-year change of 4.7%. This indicates that home prices in Leonard, MI are increasing. According to Zillow, the 1-year price projection is 1.5%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $483,000 | 4.7% |
| Single Family | $477,000 | 4.4% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $277,000 | 2.6% |
3 Bed | $466,000 | 4.5% |
4 Bed | $582,000 | 4.5% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Leonard, MI
Leonard, MI lacks sufficient rental market data for analysis.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | N/A | N/A |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | N/A | N/A |
| 3 Bed Rent | N/A | N/A |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Leonard, MI
As of Oct '25, Realtor.com reports that the median days on market for a home in Leonard, MI is 76. This is a increase of 28.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 25.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $767,000 | 18.0% |
Listing Count | 24 | 35.0% |
| Listings as % of Homes | 1.1% | 35.0% |
Days on Market | 76 | 28.0% |
Demographics — Leonard, MI
As of the latest ACS Survey released in 2023, Leonard, MI has a population of 4,550, which has decreased by -2.9% over the past 5 years. Leonard, MI is a moderately popular place for families, as children make up 23.5% of the population. The area has a moderately educated workforce, with 37.6% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 10.4% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 4,550 | -2.9% |
% Under 18 | 23.5% | 39.9% |
% Seniors | 18.2% | 20.5% |
% WFH | 10.4% | 38.7% |
% w/ College Degree | 37.6% | 20.1% |
As of the latest ACS Survey released in 2023, Leonard, MI is a predominantly white area, with 93.8% of the population identifying as white. The white population has shrunk by 3.3% in the last 5 years. The second most common race or ethnicity in Leonard, MI is hispanic, making up 2.1% of the population. Foreign-born residents account for 5.6% of the population in Leonard, MI, and this percentage has increased by 60.0% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 93.8% | -3.3% |
% Black | 0.3% | -62.5% |
% Hispanic | 2.1% | 320.0% |
% Asian | 0.9% | 800.0% |
% Foreign Born | 5.6% | 60.0% |
Mortgage and Risk — Leonard, MI
According to HUD data as of 2023, there were 47 mortgage originations in Leonard, MI, of which 91.0% of loans were conventional mortgages. The average loan-to-value was 53.0%, with 15.0% above 90% LTV (elevated). This implies medium mortgage risk in Leonard, MI. Investor activity is low, as 0.0% of loans were by investors. 13.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 47 |
% Conventional Loans | 91.0% |
% Government Loans | 9.0% |
% Investor Loans | 0.0% |
% Second Loans | 2.0% |
% Cash Out Refinance | 13.0% |
Loan Activity
Rentals and Section 8 — Leonard, MI
Leonard, MI lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | N/A |
Total Units Section 8 | N/A |
% Rentals under Section 8 | N/A |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $1,080 |
| 2 Bedroom | N/A | N/A | $1,360 |
| 3 Bedroom | N/A | N/A | $1,670 |
| 4 Bedroom | N/A | N/A | $1,800 |
Affordability — Leonard, MI
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4.2 |
| Median Home Price | $483,000 |
| Median Household Income | $104,000 |