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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Leonard, MI Real Estate Market

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q2 2024. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Leonard, MI Housing Market Trends

With 352 people, 118 houses or apartments, and a median cost of homes of $540,014, Leonard real estate is some of the most expensive in Michigan, although Leonard home values aren't among America's most expensive.

Single-family detached homes are the single most common housing type in Leonard, accounting for 100.00% of the village's housing units.

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Leonard. Owner-occupied housing accounts for 91.53% of Leonard's homes, and 81.16% have either three or four bedrooms, which is average sized relative to America.

The housing in Leonard was primarily built before 1939 ( 34.78%), making the housing stock in Leonard some of the oldest overall in America, although there is a range of ages of homes in Leonard. The next most important housing age is between 2000 and later ( 30.43%), followed by between 1940-1969 ( 19.57%). There's also some housing in Leonard built between 1970-1999 ( 15.22%).

Vacant housing appears to be an issue in Leonard. Fully 14.49% of the housing stock is classified as vacant. Left unchecked, vacant Leonard homes and apartments can be a drag on the real estate market, holding Leonard real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Leonard Home Appreciation Rates

Real estate appreciation rates in Leonard's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 6.26% during the period.

Over the last year, Leonard appreciation rates have trailed the rest of the nation. In the last twelve months, Leonard's appreciation rate has been 4.87%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Leonard were at 1.70%, which equates to an annual appreciation rate of 6.96%.

Relative to Michigan, our data show that Leonard's latest annual appreciation rate is lower than 70% of the other cities and towns in Michigan.

Average Home Values

Median Home Value

$540,014

Leonard, MI Home Prices
> $1,299,000
$974,001 - $1,299,000
$649,001 - $974,000
$520,001 - $649,000
$389,001 - $520,000
$260,001 - $389,000
$130,001 - $260,000
$65,001 - $130,000
$0 - $65,000
4.9%
4.9%
7.0%
7.0%
17.6%
17.6%
22.8%
22.8%
18.9%
18.9%
15.0%
15.0%
10.7%
10.7%
2.9%
2.9%
0.2%
0.2%
0% 100.0%
% of Homes
Very High

for Michigan

Very High

for nation

Number of Homes And Apartments:

118

Leonard Appreciation Rates

Rent & Ownership

Average Market Rent:

$1,567 / per month

Homeownership Rate

Owners
Renters
91.5%
91.5%
8.5%
8.5%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
14.5%
14.5%
85.5%
85.5%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
30.4%
30.4%
15.2%
15.2%
19.6%
19.6%
34.8%
34.8%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
100.0%
100.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
2.9%
2.9%
0.0%
0.0%
13.8%
13.8%
58.7%
58.7%
22.5%
22.5%
2.2%
2.2%
0% 100.0%
% of Homes