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Market MapMichiganLeelanau

Leelanau County

MichiganPopulation: 22,426
41
/100
Avoid
#741 of 1,000 counties
#76 in Michigan (83 counties)
Analysis by RentalCalcs Research·Independent data + algorithm-driven scoring
Updated July 8, 2026Sources: Zillow ZHVI, Zillow ZORI, US Census ACS, Tax Foundation

Market Snapshot

$650,239
Median Home Price
184% above national median
$39,289/mo
Est. Rent
Based on regional data
6.04%
Rent-to-Price Ratio
Estimated from price data
+$0
Est. Monthly Cash Flow
With 20% down at 6.9% rate

Price History

Median Home Price

Median Rent

Historical data from Zillow ZHVI/ZORI

Score Breakdown

Overall Investment Score
41/100
41
Cash Flow(30%)
0/100

Rent data not available for cash flow calculation.

Appreciation(25%)
54/100

Based on 0.4% YoY price growth. Moderate growth (3-8%) scores highest.

Stability(25%)
50/100

Population data not available.

Affordability(20%)
14/100

Based on price relative to estimated local incomes.

Scores are calculated using real Zillow home value and rent data, Census population data, and economic indicators. The weighted average produces the overall investment score. Markets with missing rent data use estimated values based on regional averages.

Investment Outlook

Strengths

No significant strengths identified based on current data.

Challenges

  • -Negative leverage (cap rate 0.0% < mortgage rate 6.9%)
  • -High price-to-income ratio makes financing challenging
  • -Limited rent data (estimates used)

Economic Indicators

Population
22,426
Median Income
—
Data pending
Unemployment Rate
—
Data pending
Price-to-Income
—
Data pending

Who this market fits

Skip if
  • −You can't tolerate negative leverage (cap rate below mortgage rate today)
  • −You rely on FHA-style financing: prices are stretched relative to local incomes
  • −You want a market with broad institutional consensus on fundamentals

Compare to Nearby Counties

CountyVerdict
AlleganMI
60$333,542$1,3915.01%BuyView
Van BurenMI
60$256,887$1,6267.59%BuyView
EmmetMI
59$429,283$1,9505.45%HoldView
Grand TraverseMI
57$398,020$1,8715.64%HoldView
SanilacMI
51$194,976Est. pending—HoldView
CurrentLeelanauMI
41$650,239Est. pending—Avoid

The Bottom Line

AvoidLeelanau may be challenging for traditional rentals. High prices or low rents make cash flow difficult.

Leelanau County in Michigan scores 41/100, ranking #741 of 1,000 US counties (top 95%). At 20% down and current rates, a median-priced rental roughly breaks even on cash flow. The deal works on appreciation or with better terms, not on month-one cash flow.

Monthly Cash Flow
+$0/mo
Cap Rate
0.0%
Cash-on-Cash
0.0%

Related markets

Markets like Leelanau with stronger cash flow

  • Van Buren County for cash-flow rentals
  • Grand Traverse County for cash-flow rentals
  • Emmet County for cash-flow rentals

Cheaper alternatives to Leelanau

  • Sanilac County, lower entry price
  • Van Buren County, lower entry price
  • Allegan County, lower entry price

Head-to-head comparisons

  • Leelanau vs Sanilac for rentals
  • Leelanau vs Grand Traverse for rentals
  • Leelanau vs Emmet for rentals
All counties in Michigan →

Rent vs buy in Michigan cities

Rent vs buy in Detroit, MIMedian $172,107 · rent $1,375/moRent vs buy in Grand Rapids, MIMedian $335,851 · rent $1,746/moRent vs buy in Warren, MIMedian $261,061 · rent $1,388/moRent vs buy in Sterling Heights, MIMedian $261,061 · rent $1,388/moRent vs buy in Ann Arbor, MIMedian $399,990 · rent $2,165/moAll Michigan citiesFull rent-vs-buy directory for the state

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