Is Leelanau County, MI good for real estate investing?

Leelanau County has an investment score of 41/100, rated as "Avoid". The county ranks #743 nationally among 1000 counties analyzed.

What is the median home price in Leelanau?

The median home price in Leelanau County is $662,102. This ranks #971 in affordability among all US counties.

Can you cash flow on rental properties in Leelanau?

Based on median values with 20% down at current rates, a typical rental in Leelanau County would generate positive cash flow of $0/month. Individual property performance varies based on purchase price, rent, and operating expenses.

Leelanau County

MichiganPopulation: 22,426

/100

Avoid

#743 of 1,000 counties

#76 in Michigan (83 counties)

Analysis by RentalCalcs ResearchIndependent data + algorithm-driven scoring

Updated July 28, 2026Sources: Zillow ZHVI, Zillow ZORI, US Census ACS, Tax Foundation

Market Snapshot

$662,102

Median Home Price

189% above national median

$40,006/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

Cash Flow(30%)

0/100

Rent data not available for cash flow calculation.

Appreciation(25%)

56/100

Based on 0.6% YoY price growth. Moderate growth (3-8%) scores highest.

Stability(25%)

50/100

Population data not available.

Affordability(20%)

13/100

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

County					Verdict
AlleganMI	60	$333,542	$1,391	5.01%	Buy	View
Van BurenMI	60	$256,887	$1,626	7.59%	Buy	View
EmmetMI	59	$429,283	$1,950	5.45%	Hold	View
Grand TraverseMI	57	$398,020	$1,871	5.64%	Hold	View
SanilacMI	51	$194,976	Est. pending	—	Hold	View
CurrentLeelanauMI	41	$662,102	Est. 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 #743 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%