Cheboygan County, Michigan Housing Market Prices
Cheboygan County Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
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Median home price 4% above the Michigan median$144,791
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Median rent 32% below the Michigan median Cheaper than 76% of counties in Michigan$772
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Cheboygan County | Michigan Avg | US Average |
|---|---|---|---|
| Median Home Price | $144,791 | $138,713 | $248,835 |
| Price Trend (Annual %) | 2.5% | 8.6% | 7.5% |
| Median Gross Rent | $772 | $1,129 | $1,407 |
| Rent Trend (Annual %) | 2.4% | 4.5% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Cheboygan County is about 4% higher than in Michigan. Rent is about 32% lower than the Michigan average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Both home prices and rent are rising in Cheboygan County, up about 2.5% and 2.4% a year respectively. Home prices are changing faster.
Median rent in Cheboygan County rose about 30.6% between 2015 and 2024, from $591 to $772. Over the same span, rent in Michigan rose about 44.2%.
Affordability
On average, housing unit costs 2.3 yearly household incomes in Cheboygan County.
Buying the median-priced home in Cheboygan County costs roughly 15.6 years of rent at the median monthly rate. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Cheboygan County. The price-to-rent ratio in Michigan is about 10.2.
| Metric | Cheboygan County | Michigan Avg | US Average |
|---|---|---|---|
| Median Home Price | $144,791 | $138,713 | $248,835 |
| Median Household Income | $63,766 | $72,977 | $80,455 |
| Price-to-Income Ratio | 2.3 | 1.9 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Cheboygan County rose about 47.7%, while median household income rose about 53.9% between 2009 and 2025 — income grew faster than the home price.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Cheboygan County | Michigan Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 53.7% | 64.6% | 58.5% |
| Rental Rate | 9.0% | 23.6% | 31.2% |
| Vacancy Rate | 37.3% | 11.8% | 10.2% |
| Median Tenure (years) | 18.0 | 16.0 | 15.0 |
| Median Year Moved In | 2008 | 2010 | 2011 |
Cheboygan County has a homeownership rate of 53.7%, lower than the Michigan average of 64.6%. Its housing vacancy rate is 37.3%, compared with 11.8% in Michigan.
Housing Stock
| Metric | Cheboygan County | Michigan Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.29 people | 2.42 people | 2.53 people |
| Median Structure Built Year | 1979 | 1972 | 1978 |
| Median Number of Rooms | 5.6 | 5.9 | 5.5 |
The typical housing unit in Cheboygan County was built around 1979. On average, 2.3 people live in a home with about 5.6 rooms, staying for about 18.0 years on average.
Cheboygan County, MI Housing Compared With Nearby Counties
How Cheboygan County, MI compares with the 1 counties closest to it.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Cheboygan County, MI | 25,865 | $144,791 #1/2 | $772 #2/2 | 85.6% #1/2 |
| Emmet County, MI | 34,125 | $109,091 | $1,112 | 77.0% |
Frequently Asked Questions
Common questions about the housing market in Cheboygan County, Michigan.
What is the median home price in Cheboygan County, Michigan?
The median home price in Cheboygan County, Michigan is $144,791, higher than the Michigan average of $138,713.
What is the average home price in Cheboygan County, Michigan?
The typical home price in Cheboygan County, Michigan, reported as the median sale price, is $144,791. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Cheboygan County, Michigan?
The median gross rent in Cheboygan County, Michigan is $772 per month, lower than the Michigan average of $1,129.
What was the median gross rent in Cheboygan County in 2020?
In 2020, the median gross rent in Cheboygan County, Michigan was $732 per month.
What is the price-to-rent ratio in Cheboygan County, Michigan?
The price-to-rent ratio in Cheboygan County, Michigan is about 15.6, meaning it would take roughly 15.6 years of rent payments at the median rent to equal the median home price. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Cheboygan County.
Are home prices or rent rising faster in Cheboygan County, Michigan?
Both home prices and rent are rising in Cheboygan County, up about 2.5% and 2.4% a year respectively. Home prices are changing faster.
What is the homeownership rate in Cheboygan County, Michigan?
53.7% of households in Cheboygan County, Michigan own their home, lower than the Michigan average of 64.6%.
What is the vacancy rate in Cheboygan County, Michigan?
The housing vacancy rate in Cheboygan County, Michigan is 37.3%, higher than the Michigan average of 11.8%.
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