Leonard, MI—48370
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 $543,000, 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 1.3%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $543,000 | 4.7% |
| Single Family | $535,000 | 4.5% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | N/A | N/A |
3 Bed | $506,000 | 4.3% |
4 Bed | $601,000 | 4.7% |
| 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 50. This is a increase of 9.0% 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 12.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $899,000 | 10.0% |
Listing Count | 17 | 100.0% |
| Listings as % of Homes | 0.3% | 100.0% |
Days on Market | 50 | 9.0% |
Demographics — Leonard, MI
As of the latest ACS Survey released in 2023, Leonard, MI has a population of 1,840, which has decreased by -3.6% over the past 5 years. Leonard, MI is a popular place for families, as children make up 29.5% of the population. The area has a highly educated workforce, with 48.0% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 5.4% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 1,840 | -3.6% |
% Under 18 | 29.5% | 19.0% |
% Seniors | 11.6% | -15.9% |
% WFH | 5.4% | -41.9% |
% w/ College Degree | 48.0% | 3.0% |
As of the latest ACS Survey released in 2023, Leonard, MI is a predominantly white area, with 82.7% of the population identifying as white. The white population has shrunk by 12.7% in the last 5 years. The second most common race or ethnicity in Leonard, MI is hispanic, making up 5.0% of the population. Foreign-born residents account for 6.8% of the population in Leonard, MI, and this percentage has increased by 15.3% 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 | 82.7% | -12.7% |
% Black | 0.0% | -100.0% |
% Hispanic | 5.0% | 108.3% |
% Asian | 0.0% | -100.0% |
% Foreign Born | 6.8% | 15.3% |
Mortgage and Risk — Leonard, MI
According to HUD data as of 2023, there were 65 mortgage originations in Leonard, MI, of which 95.0% of loans were conventional mortgages. The average loan-to-value was 57.0%, with 11.0% above 90% LTV (elevated). This implies medium mortgage risk in Leonard, MI. Investor activity is low, as 0.0% of loans were by investors. 15.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 65 |
% Conventional Loans | 95.0% |
% Government Loans | 5.0% |
% Investor Loans | 0.0% |
% Second Loans | 2.0% |
% Cash Out Refinance | 15.0% |
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 | $1,060 |
| 2 Bedroom | N/A | N/A | $1,340 |
| 3 Bedroom | N/A | N/A | $1,650 |
| 4 Bedroom | N/A | N/A | $1,780 |
Affordability — Leonard, MI
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4 |
| Median Home Price | $543,000 |
| Median Household Income | $121,000 |