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Lennon

Learn about the people, housing, costs and businesses in Lennon, Michigan

Median Home$206,668
Median Rent$1,015/month
Population508
Leading IndustriesWholesale Trade · Construction11% wholesale trade
Home Value Growth⬆⬆+15.9% over 2 years
Young Adults32% of residentsabove average nationally
Homeowners87% of occupied units
Lennon
MI

Frequently Asked Questions

What are today's mortgage rates in Lennon?

As of today, the 30-year fixed mortgage rate for Lennon is approximately 7.060% (7.101% 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 Lennon?

The median home value in Lennon is $207k. The median monthly rent is $1,015. Annual property taxes average $2k. Home values are based on U.S. Census Bureau American Community Survey estimates.

Are home values rising in Lennon?

Home values in Lennon have increased 15.9% over the past two years. This indicates a strong appreciation trend. 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 Lennon?

Based on a typical all-in ownership cost of $957/month (mortgage, taxes, insurance), you'd generally need a household income of approximately $41k/year to keep housing costs at or below 28% of gross income — a common lender guideline. The median household income in Lennon is $73k/year.

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What industries drive the economy in Lennon?

The largest employment sectors in Lennon are public administration (25%) and retail (12%) of the local workforce. Industry data is sourced from the U.S. Census Bureau American Community Survey.