Most of the original settlers of Leopold were Belgian emigres. These 'Walloon' settlers were Catholics from the French-speaking southern region of Belgium which had formerly been part of Luxembourg. They were motivated to move to America from cities along the Meuse River bordering France, such as Florenville and Chiny, after Belgium was placed under Protestant rule in the 1830s. The land and climate of Perry County was similar to their homeland and made for an easier transition. Because this was an open frontier, immigrants were required to sign an oath renouncing any allegiance to King Leopold.
With a population of less than 100, Leopold is the site of a Roman Catholic church, St. Augustine, a general store, Guillaume's Store, a restaurant, Marcy's, and a quiet atmosphere reminiscent of another time. On the last Sunday in July, Leopold holds its annual St. Augustine's picnic, which serves both as a fund raiser for the local parish and as a homecoming for former residents.