Rental numbers for Leelanau County, MI
The typical home here runs -$2,459 a month at 7.78% with 25% down.
- Gross yield
- 4.4%
- typical home, Zillow
- Median ZIP yield
- n/a
- 0 ZIPs with full data
- Cash flow
- -$2,459/mo
- at 7.78%, 25% down
- Typical price
- $655,000
- Zillow ZHVI, Aug 2026
- Typical rent
- $2,400/mo
- Zillow ZORI, Aug 2026
ZIP codes in Leelanau County
9 with published figures
| 49621Cedar | $533,000 | $1,400* | 3.1% | 0.9% | -$2,473 | n/a |
| 49664Maple City | $628,000 | $1,610* | 3.1% | 0.9% | -$2,923 | n/a |
| 49630Empire | $625,000 | $1,390* | 2.7% | 0.4% | -$3,144 | n/a |
| 49636Empire | $680,000 | $1,490* | 2.6% | 0.4% | -$3,449 | n/a |
| 49682Suttons Bay | $641,000 | $1,380* | 2.6% | 0.3% | -$3,313 | n/a |
| 49670Northport | $823,000 | $1,720* | 2.5% | 0.2% | -$4,276 | n/a |
| 49674Northport | $1,050,000 | $1,590* | 1.8% | -0.1% | -$5,725 | n/a |
| 49653Lake Leelanau | $867,000 | $1,200* | 1.7% | -0.3% | -$4,889 | n/a |
| 49654Maple City | $1,354,000 | $1,530* | 1.4% | -0.3% | -$7,665 | n/a |
* HUD Fair Market Rent, 2 bedroom, where Zillow publishes no rent index. Conservative.
Trends
Five years to August 2026
- Price, 12 months
- +2.5%
- Rent, 12 months
- n/a
- Rent minus price growth
- n/a
- Property tax
- 0.68%
- effective rate, ACS 2024
Show the numbers
| Month | Typical value | Rent |
|---|---|---|
| Aug 2021 | $532,228 | n/a |
| Aug 2022 | $623,316 | n/a |
| Aug 2023 | $629,974 | n/a |
| Aug 2024 | $639,541 | n/a |
| Aug 2025 | $639,169 | n/a |
| Aug 2026 | $654,806 | $2,400 |
HUD Fair Market Rent
FY2027, Leelanau County, MI HUD Metro FMR Area
| Bedrooms | Studio | 1 bed | 2 bed | 3 bed | 4 bed |
|---|---|---|---|---|---|
| Fair Market Rent | $1,308 | $1,316 | $1,500 | $1,787 | $1,971 |
The 40th percentile gross rent for a standard unit, set by HUD each October and used for Section 8 payment standards. It runs below market rent; Zillow's index is shown above where it exists.
Supply
- Permits per 1,000 households
- 17.4
- 168 units, last 12 months
- National percentile
- 87th
- among US counties
Tools
Test a listing in Leelanau County against today's rate.
Open the calculatorPart of the Traverse City, MI metro.
Questions
- Is Leelanau County good for rental property?
- The typical home here runs -$2,459 a month at 7.78% with 25% down. The figures use a typical home, 7.78% with 25% down and default costs shown on each ZIP page. They describe the market, not any one property.
- What is the property tax rate in Leelanau County?
- About 0.68% of value, from Census ACS median taxes paid over median home value. On a $655,000 home that is about $4,453 a year.
- What is Fair Market Rent in Leelanau County?
- HUD's FY2027 Fair Market Rent here is $1,316 for a 1-bedroom, $1,500 for a 2-bedroom and $1,787 for a 3-bedroom. Typical cash flow at today's rate is -$2,459 a month.
Sources and method
- Zillow Home Value Index (ZHVI), mid tier, smoothed and seasonally adjusted
Zillow Research. Read: 2026-08.
Typical home value by ZIP, county, metro and state, and the price trend.
- Zillow Observed Rent Index (ZORI), all homes plus multifamily, smoothed
Zillow Research. Read: 2026-08.
Typical market rent by ZIP, county and metro, and the rent trend (tier A pages).
- HUD Small Area Fair Market Rents, FY2026
US Department of Housing and Urban Development. Read: FY2026.
Rent by bedroom count for every ZIP. The rent used on tier B pages, and a reference on all pages. It is the 40th percentile gross rent, so it runs below market.
- HUD Fair Market Rents by county, FY2027
US Department of Housing and Urban Development. Read: FY2027.
County rent by bedroom count on county pages.
- American Community Survey 5-year estimates, 2020 to 2024 (B25103 median real estate taxes paid, B25077 median home value, B11001 households)
US Census Bureau. Read: 2020 to 2024.
Effective property tax rate (median taxes paid divided by median value) by ZIP code tabulation area, county and state; households for the permits ratio.
- Freddie Mac Primary Mortgage Market Survey, 30-year fixed (FRED series MORTGAGE30US)
Freddie Mac via the Federal Reserve Bank of St. Louis. Read: 2026-09-24.
The weekly 30-year rate. The site adds a disclosed investor premium to it for the loan payment.
- Building Permits Survey, county monthly files
US Census Bureau. Read: 2025-09 to 2026-08.
New housing units permitted in the last 12 months per 1,000 households, a supply-pressure signal.
Data: Zillow Research (ZHVI, ZORI), HUD, US Census Bureau, Freddie Mac. Every formula is on the methodology page.
Estimates from public data for a typical property. Not investment, tax or legal advice. Your property, financing and costs will differ.