The seat of Real County, Leakey is on the Frio River southwest of the confluence of the East and West branches, at the intersection of Farm roads 336, 337, and 1120 and US 83.
Archeological excavations in the Frio Canyon and the region reveal Paleo-American, Archaic, and Neo-American occupations. In the historic period Lipan Apaches, Comanches, and Tonkawas inhabited or traversed the area.
Although lumbering, freighting, and cultivating cotton and corn were initially important to the local economy, these activities were eventually superseded by ranching, and in particular the raising of Angora goats; tourism also provides an increasingly significant source of revenue.
In 1990 the population was 399.