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Cheboygan city, MI

ZIP 49721 — Housing & Real Estate

Source: U.S. Census Bureau ACS 2019–2023 5-Year Estimates. Page data updated 2026-08-02.

Middle ClassLow Snow Area

Home values, rent, tenure, and housing stock

Housing & Real Estate in ZIP Code 49721

Median Home Value
$170,000
Median Rent
$568
Affordability Snapshot
$47,000
Est. income to buy

Household income needed for a median home under a 20% down / 6.8% illustrative mortgage model (~$1,092/mo PITI).

11%
Rent-to-Income Ratio

Below the 30% threshold — generally affordable for median earners.

2.8x
Home Price-to-Income Ratio

Below 3x — relatively affordable housing market.

24.9 yrs
Price-to-Rent Ratio

Years to break even buying vs renting at median home value and rent.

To comfortably buy a median-priced home in ZIP 49721 in Cheboygan city, MI, a household would need roughly $47,000 in annual income under a 20% down, 30-year loan at 6.8% (illustrative), keeping housing costs near 28% of income. Estimated monthly PITI is about $1,092. That sits below the local median household income ($60,840), suggesting the typical household income is closer to a workable buy-in level under these assumptions. Rates, taxes, insurance, and HOA fees vary — treat this as a planning estimate, not a lender quote.

Housing Tenure

Vacancy rate 33% — check local market conditions.

Heating Fuel
Housing Metrics
Owner Occupied
83.5%+28% vs US avg
x
Vacancy Rate
33.1%+222% vs US avg
x
Broadband Access
84.5%-3% vs US avg
x
4+ Bedrooms
6.0%-60% vs US avg
x
Built Pre-1939
5.8%-55% vs US avg
x
Built Post-2014
0.1%-99% vs US avg
x
Rent Burden >30%
21.5%-57% vs US avg
x
Mortgage-Free
50.6%+32% vs US avg
x
$170,000
Home Value
$568
Rent
1978
Year Built
2009
Moved In

Residents have lived here since ~2009 on average

Housing Structure

Census ACS structure types (single-family, multi-unit, etc.).

  • 1-unit detached85.3%
  • 1-unit attached0.9%
  • 2-9 units5.3%
  • 10+ units1.4%
  • Mobile home & other7.1%

Housing & Real Estate key statistics

Housing statistics
Housing
Median home value$170,000
Median rent$568
Owner-occupied83.5%
Vacant33.1%
Price-to-income2.8x
Est. income to buy$47,000