Leesburg Home Prices: $299K, Down 4.5% — 3 ZIPs Analyzed (2026)

$298,862. That’s the typical home value in Leesburg, FL as of February 2026. Prices are down 4.5% from a year ago, and the slide has been steady — twelve months of small declines from the March 2025 peak.

Quick answer: The average home price in Leesburg, FL is $298,862 as of February 2026, down 4.5% year over year according to Zillow.

Current Home Prices in Leesburg

Leesburg sits inside the Orlando-Kissimmee-Sanford metro, but its prices look nothing like Orlando’s. The typical home runs under $300K, and the most expensive ZIP in town tops out around $334K.

The spread between the cheapest and most expensive ZIP is about $56,400 — a tighter range than you’ll see in larger Florida cities. That makes Leesburg less neighborhood-stratified than markets like Tampa or Miami, where ZIP-level prices can vary by hundreds of thousands.

The 4.5% YoY drop is steeper than the broader Florida trend most national outlets have reported. You’re looking at a market that’s giving back gains, not breaking even.

A buyer who waited a year saved roughly $14,000 on a typical home. A seller who waited lost the same.

Leesburg Home Prices by Neighborhood

Three ZIP codes cover Leesburg in the Zillow data. Here’s how they compare.

Most Expensive

• 34762 — $333,565. This is the priciest ZIP, sitting about $34,700 above the city average. Rent data isn’t available here, suggesting fewer rental listings and a more owner-occupied profile.
• 34788 — $285,870. Mid-range pricing, but rents here are the highest of the two ZIPs with data, at $2,097.
• 34748 — $277,151. Even the “cheapest” ZIP is only modestly below average. Leesburg’s price compression means there’s no dramatic step-down between neighborhoods.

Most Affordable

• 34748 — $277,151. The lowest entry point in Leesburg, about 7% below the city median. With rents at $1,481, this ZIP also offers the lowest monthly cost for renters.
• 34788 — $285,870. A small step up from 34748 in home value, but rents jump significantly. Buying may pencil out faster here than renting.
• 34762 — $333,565. Even the top ZIP is technically affordable by Florida standards, where many metros now exceed $400K.

Rent vs Buy in Leesburg

Rents in Leesburg vary widely between the two ZIPs reporting data. ZIP 34748 averages $1,481 per month. ZIP 34788 averages $2,097 — a 42% premium for what’s essentially a $9,000 difference in home value.

Run the numbers on buying. A $277,151 home with 20% down at a 7% mortgage rate produces a principal-and-interest payment near $1,475 per month. Add property taxes (Florida averages around 0.8%) and insurance (Florida is high — $3,000+ annually is common), and the all-in monthly cost lands closer to $2,000.

Renting in 34748 is the cheapest option by a wide margin. If you can find a rental in that ZIP for the listed average, you’re paying roughly $500 less per month than buying. Renting in 34788 is essentially a wash with buying — at that point, equity matters more than monthly cash flow.

The math shifts in the buyer’s favor only if prices stop falling. With a 4.5% annual decline, equity is moving the wrong direction.

Population Growth and Migration

Leesburg is one of Florida’s fastest-growing small cities. Population went from 27,127 in 2020 to 37,815 in 2024 — a 39.4% jump in four years.

The acceleration in 2023-2024 is notable. Leesburg added more residents in that single year (5,902) than in the previous three combined.

Here’s how that growth rate stacks up against other Florida cities:

Leesburg is growing faster than every major Florida city on a percentage basis. That’s the puzzle in this market — population is surging, but home prices are falling. New construction supply is likely outpacing demand, or buyers are sitting out the high mortgage-rate environment.

If population growth continues at this pace, prices should stabilize once supply absorbs.

Leesburg Housing Market Trends

The trend table tells a clear story: twelve months of steady decline.

Prices peaked at $312,802 in March 2025 and have fallen $13,940 since. That’s a 4.5% drop over twelve months — and importantly, the decline has slowed in recent months. November to February saw a small bump, with values ticking up from $297,026 to $298,862.

The maximum ZIP value tells a similar story. The top of Leesburg’s market dropped from $346,052 to $333,565, a $12,487 decline.

The minimum ZIP held up better. Cheaper homes in 34748 lost about $16,500 in value but never broke below $277,000.

Is Leesburg a Good Place to Buy in 2026?

The data points to a buyer’s market, but with caveats.

Prices are down. Inventory is moving — that 39.4% population surge means demand exists. The gap between rent and mortgage is small in 34788, which suggests housing isn’t wildly overpriced relative to local incomes.

But you’d be buying into a falling market. If you have a 7-10 year horizon, the population trend supports the case. If you’re flipping or short-term, you’re catching a knife.

A buyer prioritizing affordability should look at 34748. A buyer wanting more space and willing to pay should consider 34762.

Sellers face a different reality. The market has rejected $312K-level prices. Listings should be priced at or below the current $298,862 median to move, not aspirationally above it.

Leesburg Housing Market Outlook for 2026-2027

The 3-month trend (December through February) shows prices flat to slightly up — $297,389 → $298,141 → $298,862. After twelve months of decline, that’s the first sign of stabilization.

If the current pace continues, Leesburg prices may bottom near $295K-$300K and hold through summer 2026. The combination of strong population inflow and a 4.5% price reset suggests the market is finding its floor.

The risk: if mortgage rates stay elevated and Florida insurance costs keep climbing, demand could weaken regardless of population. Watch the minimum ZIP value (34748) — it’s been the most resilient and is the leading indicator for entry-level buyer activity.

For the next 3-6 months, expect prices to move sideways within a $295K-$305K band rather than continuing the steep decline.

Similar Markets in FL

• Orlando — Leesburg’s nearest major metro. Expect significantly higher prices but more inventory and rental supply.
• Tampa — Larger Gulf Coast market with similar Florida headwinds (insurance, rates) but stronger job base.
• Jacksonville — Lower-cost Florida alternative for buyers priced out of central Florida.
• Homestead — Another small Florida city worth comparing on price-per-population basis.
• Port Saint Lucie — A mid-size Florida growth market with a similar population trajectory.

Frequently Asked Questions

What is the average home price in Leesburg?

The average home price in Leesburg, FL is $298,862 as of February 2026. That figure is the Zillow Home Value Index averaged across three ZIP codes — 34748, 34788, and 34762. Individual ZIPs range from $277,151 to $333,565.

Are home prices going up or down in Leesburg?

Prices are down 4.5% year over year. The market peaked at $312,802 in March 2025 and has declined every month since, though the most recent three-month window shows prices flattening near $298K.

Is it cheaper to rent or buy in Leesburg?

Renting in ZIP 34748 at $1,481 per month is the cheapest housing option — roughly $500 less than the all-in monthly cost of buying a typical home. Renting in 34788 at $2,097 is roughly equivalent to buying, so the choice comes down to whether you want equity or flexibility.

What is the most affordable neighborhood in Leesburg?

ZIP 34748 is the most affordable Leesburg neighborhood, with a typical home value of $277,151. That’s about $21,700 below the citywide average, and the ZIP also has the lowest reported rent at $1,481 per month.

Methodology

Home values are based on the Zillow Home Value Index (ZHVI), a smoothed measure of typical home values in the 35th to 65th percentile range. Rent estimates use the Zillow Observed Rent Index (ZORI). Population figures come from the U.S. Census Bureau Population Estimates Program (2020-2024 vintage). All datasets are publicly available. Housing data updated 2026-02-28.