The typical owner-occupied home in Leland is worth about $637,300, 2.8 times the Michigan median of $231,600 and 92% above the national median of $332,700. Owners pay a median $2,643 a year in property taxes, about 0.41% of their home's value, lower than the Michigan rate of 1.25%. The median household earns $120,781 a year, so the median home costs 5.3 times the median income (3.2 times for Michigan). 87% of occupied homes here are lived in by their owners, and 32% of those owners still have a mortgage.
Leland at a glance
| Leland | Michigan | U.S. | |
|---|---|---|---|
| Median home value | $637,300 | $231,600 | $332,700 |
| Median property tax paid per year | $2,643 | $2,904 | $3,119 |
| Property tax as a share of value | 0.41% | 1.25% | 0.94% |
| Median household income | $120,781 | $72,875 | $80,734 |
| Homes lived in by their owners | 87% | 73% | 65% |
| Owner homes with a mortgage | 32% | 58% | 61% |
| Median monthly costs, owners with a mortgage | $2,071 | $1,569 | $1,963 |
| Those costs as a share of the owners' income | 25.7% | 19.3% | 21.0% |
| Median rent | – | $1,129 | $1,413 |
| Median year homes were built | 1966 | 1972 | 1980 |
| Vacant homes | 59.7% | 11.8% | 10.1% |
| Population | 400 | 10,077,761 | 334,922,499 |
What a typical home costs per month in Leland
At this week's average 30-year rate of 7.11%, buying the median Leland home of $637,300 with 20% down costs about $3,913 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $4,975, because the loan is bigger and FHA adds mortgage insurance.
Lenders usually want housing costs under about 28% of gross income, which means an income of roughly $167,701 for the 20%-down payment. That payment is 39% of the median Leland household income of $120,781; at that income and 20% down, the 28% guideline points to a home of about $459,000.
| Down payment | $127,460 |
|---|---|
| Loan amount | $509,840 |
| Principal and interest | $3,430 |
| Property taxes (0.41% a year) | $218 |
| Homeowners insurance (our estimate, 0.5% a year) | $266 |
| PMI | $0 |
| Total per month | $3,913 |
Change the numbers in the calculator
| Down payment | $22,306 |
|---|---|
| Loan amount | $625,757 |
| Principal and interest | $4,210 |
| Property taxes (0.41% a year) | $218 |
| Homeowners insurance (our estimate, 0.5% a year) | $266 |
| FHA mortgage insurance | $282 |
| Total per month | $4,975 |
Change the numbers in the calculator
Questions about home buying in Leland
What is the median home value in Leland?
About $637,300 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Leland?
Homeowners pay a median $2,643 a year, which is about 0.41% of the median home value. Your bill depends on your home's assessed value and local rates.
What income do you need to buy a home in Leland?
For the median home with 20% down at 7.11%, the payment is about $3,913 a month. Keeping that under 28% of gross income takes about $167,701 a year.
More about Leland
- Mortgage Refinance in Leland
- Debt Relief in Leland
- Home Equity Loans in Leland
- Guides and quotes for mortgage refinance on our sister site, MortgageRefinance.com
Sources: U.S. Census Bureau, American Community Survey 2020–2024 5-year estimates; Freddie Mac Primary Mortgage Market Survey, week of November 12, 2026. Estimates for small places have wide margins of error. About our data