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Lake Leelanau

Learn about the people, housing, costs and businesses in Lake Leelanau, Michigan

Median Home$646,346
Median Rent$1,089/month
Population218
Leading IndustriesPublic Administration · Agriculture & Mining · Construction33% public administration
Home Value Growth+8.5% over 2 years
Family-Friendly26% of residentsabove average nationally
Homeowners92% of occupied units
NotableHigh Incomes$99k/year · top 18% nationally
NotableHighly Educated23% bachelor's · 12% graduate · top 23% nationally
Lake Leelanau
MI

Frequently Asked Questions

What are today's mortgage rates in Lake Leelanau?

As of today, the 30-year fixed mortgage rate for Lake Leelanau is approximately 6.913% (6.950% APR). Rates vary based on your credit score, loan type, down payment, and other factors. Safe Rate updates rates daily using live investor pricing.

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What is the median home price in Lake Leelanau?

The median home value in Lake Leelanau is $646k. The median monthly rent is $1,089. Annual property taxes average $4k. Home values are based on U.S. Census Bureau American Community Survey estimates.

Are home values rising in Lake Leelanau?

Home values in Lake Leelanau have increased 8.5% over the past two years. This represents moderate growth. This data is sourced from the Federal Housing Finance Agency (FHFA) House Price Index.

How much income do you need to buy a home in Lake Leelanau?

Based on a typical all-in ownership cost of $1,286/month (mortgage, taxes, insurance), you'd generally need a household income of approximately $55k/year to keep housing costs at or below 28% of gross income — a common lender guideline. The median household income in Lake Leelanau is $99k/year.

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What industries drive the economy in Lake Leelanau?

The largest employment sectors in Lake Leelanau are public administration (33%) and agriculture and mining (7%) of the local workforce. Industry data is sourced from the U.S. Census Bureau American Community Survey.