Leonard, MI
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Leonard Neighborhoods Since 2000




Leonard, MI Real Estate Data

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 Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Leonard Housing Market Information

With a population of 410, 155 total housing units (homes and apartments), and a median house value of $347,541, Leonard house prices are not only among the most expensive in Michigan, Leonard real estate also is some of the most expensive in all of America.

Single-family detached homes are the single most common housing type in Leonard, accounting for 94.01% of the village's housing units. Other types of housing that are prevalent in Leonard include duplexes, homes converted to apartments or other small apartment buildings ( 3.59%), mobile homes or trailers ( 1.20%).

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 85.81% of Leonard's homes, and 63.47% have either three or four bedrooms, which is average sized relative to America.

The housing in Leonard was primarily built before 1939 ( 49.70%), 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 1940-1969 ( 28.14%), followed by between 1970-1999 ( 15.57%). There's also some housing in Leonard built between 2000 and later ( 6.59%).

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 -0.72% during the period.

Appreciation rates are so strong in Leonard that despite a nationwide downturn in the housing market, Leonard real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Leonard appreciation rates continue to be some of the highest in America, at 6.95%, which is higher than appreciation rates in 81.08% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Leonard. Leonard appreciation rates in the latest quarter were at 1.86%, which equates to an annual appreciation rate of 7.66%.

Importantly, this makes Leonard one of the highest appreciating communities in the nation for the latest quarter, and may signal the village's near-future real estate investment strength.

Relative to Michigan, our data show that Leonard's latest annual appreciation rate is higher than 60% of the other cities and towns in Michigan.

Average Home Values

 

Median Home Value:
$347,541

Leonard, MI HOME PRICES

Value Range
> $1,245,000 1.3
$934,001 - $1,245,000 2.0
$623,001 - $934,000 5.2
$498,001 - $623,000 9.7
$374,001 - $498,000 18.7
$249,001 - $374,000 29.7
$124,001 - $249,000 22.4
$62,001 - $124,000 2.8
$0 - $62,000 8.2

Very High for MI
Very High for Nation

Value Relative to Nation Value Relative to State
12.3930622289933 3.2051282051282

Number Of Homes And Apartments:
155

Leonard Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MI*
Compared To
America*
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
2.91% 0.17% 4 1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,516 / per month

Homeownership Rate

Homeownership
Owners 85.81
Renters 14.19
Vacant 7.19

Housing Market Details

 

Age of Homes

AGE OF Leonard HOMES
2000 or Newer 6.6
1970 - 1999 15.6
1940 - 1969 28.1
1939 or Older 49.7

Types of Homes

TYPE OF Leonard HOMES
Single-Family 94.0
Townhomes 0.0
Small Apt. Buildings 3.6
Apt. Complexes 0.0
Mobile Homes 1.2
Other 1.2

Home Size

SIZE OF Leonard HOMES
No Bedroom 2.99
1 Bedroom 2.40
2 Bedrooms 25.15
3 Bedrooms 43.71
4 Bedrooms 19.76
5 or more bedrooms 5.99