Oakland County, Michigan
Mortgage Lender in Leonard, MI
Local mortgage guidance for Leonard buyers and homeowners, with options shopped across multiple wholesale lenders and one Michigan broker who stays with your file.
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Buying a home in Leonard
Tucked into the northern corner of Oakland County against the Lapeer County line, Leonard is a 377-resident village incorporated back in 1889. The wider 48367 area spreads across eastern Addison Township, home to roughly 4,600 people, horse farms, and large-acreage country estates. This is commuter-and-equestrian country: residents post a low ~2.8% unemployment rate and a ~31-minute average commute toward Oxford, Rochester, Auburn Hills and Troy. The village itself is best known for the 73-year-old Strawberry Festival run by the Addison Township Fire Department, the Polly Ann Trail that terminates downtown, and nearby Addison Oaks County Park. Median household income sits near $110,000, well above the state average. We tailor financing to this acreage-heavy, higher-balance market.
By the numbers
Leonard housing and mortgage snapshot
Values move. Treat these as orientation and let us pull current figures for the address you are considering.
$403,000
Typical home value, from the market research on this page
+38%
Typical rise in taxable value the year after a home sells in Addison Township, 2026 Uncapping Study
1.00%
Effective property tax rate, as a share of value
1
Residential ZIP codes
What financing looks like in Leonard
A roughly $450,000 Leonard home with 20% down lands near a $2,860 monthly PITI at current rates, generally requiring $120,000-$140,000 in household income to qualify. That sits above the area's ~$110,000 median, so many buyers here lean on dual incomes, larger down payments, or equity from a prior sale. Oakland County effective property taxes run about 1.0%-1.23% of value (county median bill ~$4,509); confirm the exact Addison Township millage and Oxford school levy with the township treasurer. First-time buyers should explore MSHDA down-payment assistance. Most 48367 homes stay under the 2026 conforming limit, but acreage estates financed above the $832,750 conforming limit move into jumbo territory, where reserves and documentation matter more. We map the right loan to each price band.
Nearly every Leonard purchase fits well under the 2026 conforming limit of $832,750, so loan size is rarely the constraint.
The market
The Leonard housing market
The typical home value in ZIP 48367 runs around $403,000, while recent listings and sales have pushed the median closer to $449,000-$452,000 in early 2026. Prices stretch enormously: an older home in the village core can start near $200,000, while custom estates on 5-10+ acres climb past $1 million. ZIP-specific year-over-year change isn't separately published, but the broader Michigan market was up roughly 3.8%-5.4% in spring 2026 and Oakland County remains seller-favored. With higher price points and rural acreage inventory, homes here typically take longer to sell than the ~33-51 day Michigan median. Demand is driven by buyers seeking land, horse properties, and small-town character within reach of metro job centers.
Where to look
Leonard neighborhoods
Downtown Leonard / Village core
(~$200,000 to $550,000): Older, smaller-lot single-family homes along Elmwood and Rowland inside the incorporated village, the most affordable, walkable pocket, steps from the Polly Ann Trailhead.
Copper Hills Estates
(~$400,000-$650,000): Estate-style subdivision with larger custom homes on bigger lots.
Rural Addison Township acreage
Rowland Rd, Brewer Rd and Lake George Rd corridors (~$450,000-$1,200,000+): Custom and farmhouse-style homes on 2-10+ acre parcels and horse properties; the bulk of higher-end 48367 inventory, ranging toward $2M for premium estates.
Adams Lake / Addison Oaks vicinity
(~$400,000-$900,000): Homes near Adams Lake and Addison Oaks County Park, prized for recreation and acreage.
Michigan property taxes
Leonard property taxes after you buy
The year after a Michigan home sells, its taxable value resets to half of the assessor's market value, so the seller's tax bill is not your tax bill.
In Addison Township, which assesses Leonard, our 2026 Uncapping Study found taxable value typically rises about 38% the year after a sale: roughly $1,420 more in first-year tax on a $300,000 home at the township's homestead millage. We build your payment on that post-sale number.
In Samantha's words
Don't build your budget around somebody else's tax bill. The seller's tax history tells us something about the property. It does not automatically tell us what your taxes are going to look like as the new owner.
Local resources
Check Leonard records yourself
The official offices behind the tax and school details on this page.
- Addison Township Assessing Department, for parcel records and current taxable value
- Oxford Community Schools, for district boundaries and enrollment
- Oakland County Treasurer, property taxes, for county property tax records
What our clients say
The pre-approval process for my home search in Bloomfield Hills was fast and organized. Samantha answered all my questions and helped me feel confident moving forward.
Align Lending helped make purchasing my home in Madison Heights a smooth experience. I appreciated the regular updates and clear explanations along the way.
I highly recommend Align Lending to anyone looking for a mortgage broker in Southeast Michigan. The team was knowledgeable, responsive, and easy to work with.
As a first-time homebuyer in Ferndale, I was unsure of some things. Samantha was awesome. She was extremely helpful and made sure I understood every part of the process.
Samantha was extremely helpful during my home loan process in Novi. Communication was quick, the instructions were clear, and everything stayed on track through closing.
Want to shout out Samantha for the expert guidance, made my first-time homebuyer experience seamless! It exceeded expectations and was a stress free process throughout. Grateful for all your help and loving my new home in Bloomfield Hills!
Individual experiences. Results vary.
Leonard mortgage questions
If yours is not here, ask it on the call. There are no dumb questions.
What is the typical home price in Leonard, MI 48367?
The typical home value in ZIP 48367 is around $403,000, with recent listings and sales running closer to a $449,000-$452,000 median in early 2026. Prices range widely, from roughly $200,000 for an older home in the village core to well over $1 million for custom estates on acreage.
How much income do I need to buy a median-priced home in Leonard?
For a roughly $450,000 home with 20% down, your monthly payment (principal, interest, taxes and insurance) lands near $2,860 at current rates, which typically requires about $120,000-$140,000 in household income to qualify. That is above the area’s ~$110,000 median household income, so many buyers here rely on dual incomes, larger down payments, or equity from a prior home.
What are the property taxes like in Leonard / Addison Township?
Leonard is in Oakland County, where the effective property tax rate generally runs about 1.0%-1.23% of value and the county’s median tax bill is around $4,509 a year. Your exact bill depends on the homestead vs. non-homestead millage and the Oxford school district levy, so confirm the current millage with the Addison Township Treasurer or the Michigan Property Tax Estimator using ZIP 48367.
Which school district serves Leonard, MI?
Most of Leonard is served by Oxford Community Schools, and the village has its own Leonard Elementary that feeds into Oxford Middle and High School. Because Leonard sits at the edge of several districts, small portions of surrounding Addison Township are served by Lake Orion, Almont, or Romeo schools.
What is the commute from Leonard to downtown Detroit?
Downtown Detroit is about 40-45 miles away, roughly a 55-70 minute drive via M-24 to I-75. In practice most Leonard residents commute closer to home, with an average commute around 31 minutes to job centers like Oxford, Rochester, Auburn Hills and Troy.
What makes Leonard, MI a distinct place to live?
Leonard is a small historic village (incorporated in 1889) known for its rural, country-estate character, horse properties and large-acreage lots. Local highlights include the 73-year-old Strawberry Festival run by the Addison Township Fire Department, the Polly Ann Trail rail-trail that ends in the village, and nearby Addison Oaks County Park, giving it a tight-knit small-town feel while still being commutable to Oakland County job centers.
Talk with a local mortgage expert
Tell Samantha what you are trying to do in Leonard and she will tell you what actually matters for your situation, including whether the timing is right.
- 1
Tell us what you are trying to do
Not what product you want. What you are actually trying to accomplish.
- 2
We look at your situation
A licensed Align loan officer works out what matters most for you specifically.
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You leave with a plan
Your options, the tradeoffs, and your next step. No obligation to go further.
Align Lending LLC, NMLS #2041154. Samantha Shelton, NMLS 1647301. Equal Housing Opportunity. Licensed in Michigan, Ohio, North Carolina, Florida, Louisiana and Texas. Figures on this page are market research for orientation, not a quote. This page is for educational purposes only. It is not a credit decision, a preapproval, a commitment to lend, or an offer of credit.
