Leprechaun: In the Hood (2000)

As the Leprechaun movie series went on and we got movies set in Las Vegas, Los Angeles, and even freaking outer space, it became clear that the point wasn't so much to tell a story but to have fun in very different places.

In 2000, Leprechaun in the Hood, the fifth Leprechaun film, was released. It is a typical narrative of optimistic teenagers attempting to conquer a hostile environment at every turn, and their subsequent tribulations.

In addition to this, the plot centers around a leprechaun; in actuality, there is a leprechaun there, and he plays a key part in (link here) the events that are transpiring.