Leelanau County, MI real estate

Market data, tax and rent figures from the 2024 Census survey.

Median home value

$458,400Median home value · Census

Property tax rate

0.68%Below state avg 1.25%Median bill $3,118/yr · Census

Median rent

$1,2282-bed $1,191Per month · Census

30-yr mortgage rate

7.24%Freddie Mac weekly average

What the numbers say

Leelanau County, MI real estate at a glance

By AstroCore · Realtor.com, US Census and Freddie Mac data

Homeowners in Leelanau County pay a median of $3,118 a year in property taxes on a median home value of $458,400, an effective rate of about 0.68%. The Michigan average is 1.25%, which makes Leelanau County the #1 lowest-tax of 83 counties in the state with published tax data.

Renters pay a median of $1,228 a month, and $1,191 for a two-bedroom. At today's prices a typical home costs about 31 times a year's rent, which generally favors renting over buying in the short term.

With 20% down and today's 7.24% average 30-year rate, the monthly payment on a $458,000 home here comes to about $2,950 including property tax and insurance. Lenders typically want that to be under 28% of income, which works out to roughly $126,000 a year (the median household here earns $99,422).

Monthly payment on a typical home

$2,950/mo
  • Principal & interest$2,499
  • Property tax$260
  • Insurance (est.)$191

$458,000 home · 20% down · 7.24% 30-year fixed

Run your own numbers

Rents in Leelanau County by bedrooms

1 bedroom$77516% below state
2 bedrooms$1,1912% above state
3 bedrooms$1,3784% above state
4 bedrooms$2,03742% above state

Median gross rent (rent plus utilities), US Census American Community Survey 2024 5-year estimates.

Selling here?See what you'd walk away with after commissions and closing costs.Seller net sheet → Buying here?Monthly payment with Leelanau County's real property tax rate.Mortgage calculator → Agent here?Find out how many listing appointments you need to hit your income goal.Agent income calculator →

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Sources: Realtor.com housing inventory (monthly) and Freddie Mac Primary Mortgage Market Survey (weekly), via FRED, Federal Reserve Bank of St. Louis; US Census Bureau American Community Survey 5-year estimates (property taxes, home values, rents, income). Insurance is an estimate. Medians for the whole county; individual homes vary. For information only.