Market Overview
Home Prices in Leland, MI
The median home value in Leland, MI is $1,247,075 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 1.3% compared to a year ago and up 1.8% from two years prior.
Compared to the U.S. national median of $410,000, homes in Leland are priced204% above average. Leland is part of the Traverse City, MI metro area.
Over the past five years, Leland home values have risen by approximately44.8%, reflecting strong long-term appreciation in this market.
Price History
Leland Home Price Trend
City Comparison
Leland vs. National Median
At $1,247,075, homes in Leland cost 204% above the national median of $410,000. Buyers in Leland should expect to pay a premium compared to most U.S. markets.
Affordability
What Does It Cost to Buy in Leland?
20% Down Payment
$249,415
on $1,247,075
Monthly P&I
$6,504/mo
30-yr @ 6.8%
Total Monthly Est.
~$8,260/mo
incl. taxes & insurance
Income Needed
$330,400
gross annual (30% rule)
10% Down Option
$124,708
+ PMI applies
Loan Amount (20% dn)
$997,660
at current rates
Estimates assume a 30-year fixed mortgage at 6.8%. Monthly total includes estimated property taxes and homeowner's insurance. Actual costs vary.
FAQ
Frequently Asked Questions
What is the average home price in Leland, MI?
The median home value in Leland is $1,247,075 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 1.3% year-over-year.
How much have home prices changed in Leland?
Over the past year, home values in Leland have increased by 1.3%. Over five years, prices have risen approximately 44.8%.
How much do I need to earn to buy a home in Leland?
To comfortably afford the median home price of $1,247,075 with a 20% down payment ($249,415) at today's rates (6.8%), you'd need a gross annual income of approximately $330,400. This assumes keeping total housing costs at or below 30% of gross income.
How does Leland compare to the national average home price?
The national median home value is approximately $410,000. At $1,247,075, homes in Leland are 204% above the national average.
What metro area is Leland part of?
Leland is part of the Traverse City, MI metropolitan area. Home prices and market conditions can vary across the broader metro region.