A swollen River Soar led to the evacuation of several homes in the village of Zouch overnight.
The Rose and Crown pub in the village was used as an incident centre as water filled the surrounding fields and edged closer to the centre of the village.
The A6006 is currently down to one lane through the village because of the flooding.
About five 'islands' on raised ground between the Grand Union Canal and the river make up the village.
Although several families were evacuated, most homes escaped full flooding because they are built on stilts.
Roy Coombs, who lives and works in the Rose and Crown, said: "There are so many houses that are high enough that really the whole village could stay just by moving in with each other.
"Last night I think the emergency services went a bit over the top. People just pulled together and helped each other."
One man who lives on Lower Holme, who asked not to be named, said he was asked to leave his home by the emergency services at about 5.30pm yesterday. He is now staying with friends in Ratcliffe-on-Soar.
He said: "The ground is so wet from the summer that any deluge brings the water up very quickly. I have lived here for five years and not seen it as bad as this before. A lot of people in the village were asked to leave but most people didn't want to. Most of the island houses are all on stilts and are ok.
"I think we have seen the worst of it now."
