Discover Onaway, MI Homes for Sale | Lakeside Living & Hidden Perks

Onaway

Nestled in the heart of Presque Isle County, Onaway, Michigan is a charming small town known for its scenic beauty, welcoming community, and rich natural resources. Surrounded by lush forests, rolling countryside, and the sparkling shores of Black Lake, Onaway offers a peaceful, nature-centric lifestyle that appeals to outdoor enthusiasts, retirees, and vacation homeowners alike.

The community is rooted in a proud history, once serving as a thriving lumber and manufacturing hub. Today, Onaway maintains its small-town character while offering modern conveniences, including local shops, cozy cafes, a renovated movie theater, and essential services. Residents enjoy year-round recreation, from fishing, boating, and hiking in the summer to snowmobiling and ice fishing during the winter months.

Real Estate Statistics

Average Price	$279K
Lowest Price	$55K
Highest Price	$750K
Total Listings	26
Avg. Days On Market	41
Avg. Price/SQFT	$187

Property Types (active listings)

Browse Onaway Real Estate Listings

• All Listings
• Under $100,000
• $100,000 - $200,000
• $200,000 - $300,000
• $300,000 - $400,000
• $400,000 - $500,000
• $500,000 - $600,000
• $600,000 - $700,000
• $700,000 - $800,000

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$749,900

21661 Bluffs Highway, Onaway

5 Beds 2 Baths 2,995 SqFt Residential MLS® # 201831382

$664,900

↓ $15,000

5392 Silver Beach Road, Onaway

3 Beds 2 Baths 2,304 SqFt Residential MLS® # 201835091

$647,900

↓ $10,000

5692 Silver Beach Drive, Onaway

4 Beds 2 Baths 1,937 SqFt Residential MLS® # 201835172

New

$645,000

9425 Birch Ridge Road, Onaway

4 Beds 2 Baths 2,200 SqFt Residential MLS® # 477107

$599,000

432 N Black River Road, Onaway

3 Beds 2 Baths 1,344 SqFt Residential MLS® # 474466

$495,000

9994 M-68, Onaway

0 Beds 0 Baths 0 SqFt Commercial MLS® # 201834183

$395,000

21677 Bluffs Highway, Onaway

2 Beds 1 Bath 792 SqFt Residential MLS® # 476683

$310,000

15860 M-68, Onaway

4 Beds 2 Baths 1,780 SqFt Residential MLS® # 201832631

$279,000

7039 River Bend Drive, Onaway

5 Beds 3 Baths 2,484 SqFt Residential MLS® # 201832948

New

$264,900

6090 M-33, Onaway

3 Beds 3 Baths 2,386 SqFt Residential MLS® # 201835193

$225,000

8450 Bernard Road, Onaway

3 Beds 2 Baths 1,088 SqFt Residential MLS® # 201833882

$219,500

6121 M-33 Highway, Onaway

4 Beds 2 Baths 2,016 SqFt Residential MLS® # 201835003

$179,000

7323 M-68/33 Highway, Onaway

3 Beds 2 Baths 1,248 SqFt Residential MLS® # 201835495

$174,900

3636 Main Street, Onaway

2 Beds 1 Bath 2,500 SqFt Residential MLS® # 201834245

$165,000

16108 Shank Road 34.12 Acres, Onaway

0 Beds 0 Baths 0 SqFt Land MLS® # 201832269

New

$165,000

10501 Mason Road, Onaway

3 Beds 2 Baths 1,236 SqFt Residential MLS® # 201835779

Pending

$160,000

↓ $15,000

20417 State Street, Onaway

8 Beds 3 Baths 2,800 SqFt Residential MLS® # 201834575

$159,900

↓ $10,000

3785 S Second Street, Onaway

3 Beds 1 Bath 1,150 SqFt Residential MLS® # 201834409

$150,000

21150 M-68, Onaway

0 Beds 0 Baths 0 SqFt Commercial MLS® # 201815407

$150,000

4577 Dangler Road, Onaway

3 Beds 1 Bath 1,500 SqFt Residential MLS® # 201833395

$99,000

↓ $11,000

3864 S Elm Street, Onaway

3 Beds 1 Bath 1,503 SqFt Residential MLS® # 201833187

Pending

$79,900

6031 Collins Road, Onaway

2 Beds 1 Bath 0 SqFt Residential MLS® # 1934201

$79,000

↓ $16,000

Parcel A W 638 Highway, Onaway

0 Beds 0 Baths 0 SqFt Land MLS® # 201835352

$79,000

↓ $16,000

Parcel B W 638 Highway, Onaway

0 Beds 0 Baths 0 SqFt Land MLS® # 201835372

New

$75,000

10465 Mason Road, Onaway

0 Beds 0 Baths 0 SqFt Land MLS® # 201835777

$55,000

↓ $14,900

20635 Fardon Street, Onaway

4 Beds 2 Baths 2,550 SqFt Residential MLS® # 201834377

Onaway, MI Homes for Sale | Ultimate Lakeside Living + 15 Hidden Perks

Introduction to Onaway, Michigan

Looking for a slice of peaceful living in Northern Michigan? Onaway, MI is a hidden treasure that blends small-town charm with the natural beauty of Black Lake and surrounding forests.

Whether you’re dreaming of a lakefront retreat, a hunting lodge, or a cozy family home, Onaway offers diverse opportunities for homebuyers who want something authentic and off the beaten path.

Where is Onaway Located?

Tucked into Michigan’s northeastern Lower Peninsula, Onaway sits in Presque Isle County and is a short drive from Lake Huron’s shoreline. It’s just under an hour from Petoskey and less than 30 minutes from Rogers City, making it a quiet, rural haven that’s still within reach of larger hubs.

A Brief History of Onaway

Once a bustling mill town, Onaway’s roots go back to the logging boom of the late 1800s. The city was famously home to the American Woodenware Company, which made millions of wooden steering wheels in its heyday. Today, echoes of that past are still visible in historic buildings and a community that values hard work, independence, and local pride.

Why Buyers Are Flocking to Onaway

More and more homebuyers are discovering Onaway for its:

• Affordable property prices

• Proximity to Black Lake, Ocqueoc Falls, and hiking trails

• Friendly, close-knit community

• Opportunity for vacation rentals and investment properties

Whether you're a retiree, remote worker, or adventure seeker, Onaway offers a fresh start and a strong return on investment.

Real Estate Overview in Onaway, MI

Types of Homes Available

Onaway real estate includes:

• Rustic cabins and cottages

• Modern single-family homes

• Lakefront estates

• Seasonal vacation homes

• Vacant lots and buildable acreage

From vintage charm to newly constructed gems, there's something for every budget and lifestyle.

There are many different housing options in Onaway including condominiums for sale, downtown homes for sale, land lover homes for sale, luxury homes for sale, and waterfront homes for sale.

Price Ranges and Market Trends

As of this writing, home prices in Onaway generally range from $80,000 to $400,000+, depending on size, location, and amenities. Lakefront homes on Black Lake command a premium but are still significantly more affordable than properties near Traverse City or Petoskey.

The local market remains relatively stable, with seasonal upticks in activity during spring and summer. Many buyers scoop up properties for cash, while others take advantage of favorable mortgage rates.

Year-Round Housing vs. Vacation Homes

While some homes in Onaway are primary residences, a good portion serve as:

• Weekend getaways

• Hunting cabins

• Snowbird summer retreats

• Income-generating vacation rentals

This blend creates a unique market where long-term stability meets seasonal opportunity.

Neighborhood Spotlights

Downtown Onaway

Onaway’s walkable downtown offers:

• Local diners and coffee shops

• A classic movie theater

• Antique stores and galleries

• Community events like Onaway's 4th of July Parade

It’s small but mighty—and perfect for those who value a quiet lifestyle.

Black Lake Area

One of Northern Michigan’s largest inland lakes, Black Lake offers premium waterfront properties. Highlights include:

• Sandy beachfronts

• Private docks

• Stunning sunrise views

• Great fishing year-round

Homes here often serve as short-term rentals during peak season, making them smart investments.

Tower and Ocqueoc Surroundings

These more rural areas provide:

• Larger parcels of land

• Hunting and recreation access

• Deep forest privacy

• Lower price points

Ideal for buyers who want acreage or dream of building their own secluded retreat.

Lifestyle and Amenities

Outdoor Recreation: Lakes, Trails, and Parks

Nature is your playground in Onaway. Locals and visitors enjoy:

• Boating and kayaking on Black Lake

• Snowmobiling and ATV riding on extensive trail systems

• Hiking Ocqueoc Falls—the Lower Peninsula’s only waterfall

• Ice fishing and hunting in the surrounding wilderness

Schools and Education System

Onaway Area Community Schools serve the region with:

• Small class sizes

• A strong focus on sports and extracurriculars

• Dedicated staff that knows students by name

For families looking for a personalized education experience, it’s a top-notch option.

Shopping, Dining, and Local Services

While you won’t find mega-malls, you will find:

• Family-owned restaurants and pizza joints

• Hardware stores and auto repair shops

• A library, post office, and small grocery stores

• Seasonal farmers markets and local vendors

Everything you need—without the traffic and noise.

Healthcare Access in and Around Onaway

Local clinics and nearby hospitals in Rogers City and Cheboygan ensure:

• Primary care availability

• Emergency services within 30–45 minutes

• Access to specialists via regional networks

For routine and urgent care, you’re in safe hands.

Living on Black Lake: The Waterfront Advantage

Boating and Fishing

Black Lake is 10,000+ acres of paradise for water lovers. Residents enjoy:

• Walleye, perch, and northern pike fishing

• Quiet sunrise paddles

• Jet skiing and pontoon parties

• Access to the Black River for extended adventures

Property Value of Lakefront Homes

Lakefront homes in Onaway offer:

• Higher resale value

• Consistent demand for rentals

• Appreciation over time, especially with recent interest in remote living

Buying here is both a lifestyle upgrade and a financial asset.

Investment Opportunities in Onaway

Rental Income Potential

If you’re looking to make your property work for you, Onaway has untapped short-term rental potential. Thanks to nearby natural attractions like Black Lake, Ocqueoc Falls, and state forest lands, tourists flock to the area throughout the year—especially during summer and snowmobile season.

Why Onaway is great for rental income:

• Low property taxes compared to other Michigan vacation towns

• Steady seasonal visitor flow

• Less competition among rental listings

• Flexible zoning for short-term rentals

Many buyers choose to use their homes part-time and list them on platforms like Airbnb or VRBO during peak seasons.

ROI on Vacation Properties

Onaway vacation homes offer a solid return on investment (ROI), particularly when well-maintained and located near popular outdoor spots. A lakefront property, for example, can rent for $1,200–$2,500 per week in peak summer months. Renovated homes with modern kitchens, cozy fireplaces, and dock access tend to fetch higher rates and repeat bookings.

Renovation and Flip Opportunities

With many homes in the area dating back several decades, there's plenty of room for savvy investors to buy, renovate, and flip. Whether it’s a lakeside cottage or a forgotten farmhouse, value can be added with:

• Updated kitchens and bathrooms

• Modern siding and roofing

• Energy-efficient windows and systems

• Outdoor decks or patios for entertainment

Renovating in Onaway isn’t just about aesthetics—it’s about creating the lifestyle buyers and renters crave.

Building vs. Buying in Onaway

Land Availability

There’s no shortage of affordable land parcels in and around Onaway. Whether you're dreaming of building a log cabin, modern farmhouse, or modular home, prices for raw land often start around $10,000–$25,000 per acre depending on proximity to water and road access.

Popular areas for land purchases include:

• Black Lake outskirts

• Tower Road acreage

• M-68 rural lots with quick town access

Local Builders and Construction Trends

Northern Michigan has a selection of reputable builders who specialize in everything from luxury homes to rustic cabins. Popular home trends in Onaway include:

• Open-concept living with panoramic views

• Walkout basements

• Detached garages or workshops

• Energy-efficient and sustainable materials

Many locals use builders from nearby Petoskey, Gaylord, or Alpena to ensure quality craftsmanship and regional knowledge.

Moving to Onaway: What to Expect

Cost of Living

Compared to the state average, Onaway offers a lower cost of living, especially when it comes to:

• Property taxes

• Groceries and utilities

• Home insurance

• Entertainment and recreation

It’s one of the few places where your money still goes a long way—and your quality of life doesn’t take a hit.

Utilities and Internet Access

Most areas have access to:

• Municipal or private well water

• Electric and propane heating

• DSL, cable, or satellite internet (fiber is slowly expanding)

Pro tip: When buying in rural spots, always verify internet service if you work remotely.

Weather and Seasonal Considerations

Expect four true seasons:

• Summer: Sunny and breezy with temps in the 70s–80s

• Fall: Brilliant foliage and perfect hiking weather

• Winter: Snow-packed trails, ideal for snowmobiling

• Spring: Rainy and green, a great time for trout fishing

Homes with good insulation, snow roofs, and backup generators are ideal for winter use.

Real Estate Process and Buyer Tips

Working with Local Real Estate Experts

Partnering with a local real estate broker like Brook Walsh ensures you’re getting:

• Insider knowledge of the best neighborhoods

• Help navigating zoning and vacation rental rules

• Access to pocket listings and off-market deals

• Smooth transaction management from offer to close

Understanding the Northern Michigan Market

The real estate rhythm here is different than in big cities. Be ready for:

• Seasonal market shifts (spring/summer are hottest)

• Competition for move-in-ready homes

• Slower-paced closings in rural areas

• Value per square foot that varies drastically by proximity to water

Financing a Home in Onaway

Many banks and credit unions are eager to finance Northern Michigan homes, with options like:

• Traditional 15- or 30-year mortgages

• Construction loans for new builds

• HELOCs or second mortgages for upgrades

• Cash purchases (common for lower-priced cabins or land)

It’s wise to get pre-approved before you shop—especially for lakefront or investment-ready properties.

Testimonials: Stories from New Homeowners

Why Families Choose Onaway

“We wanted a place where our kids could swim, fish, and explore without screens—and Onaway gave us that dream.”
—The Martinez Family, Black Lake homeowners

Retirees and Remote Workers Flocking North

“I sold my downstate condo and bought a lakeside retreat. I work remote, kayak on weekends, and wake up to loons every morning.”
—J. Dawson, Tower Road resident

Pros and Cons of Living in Onaway, MI

The Benefits of Small-Town Living

• Friendly neighbors who wave from porches

• Quiet nights filled with stars, not streetlights

• Affordable homes, big yards, and fresh air

• A slower pace that helps you truly relax

Challenges to Consider

• Fewer big-box stores (but Cheboygan or Alpena have options)

• Limited healthcare specialists—plan ahead

• Winters can be long and snowy—embrace it or escape it

That said, most new residents find the benefits far outweigh any drawbacks.

Future Outlook for Onaway Real Estate

Upcoming Developments

While Onaway maintains its rural charm, new investments include:

• Small business revitalizations downtown

• Broadband internet expansion

• Eco-tourism and outdoor adventure marketing

All signs point to steady appreciation for well-located homes and land.

Economic Growth and Local Infrastructure

• New businesses and remote workers are driving demand

• Increased tourism bolsters seasonal rental income

• Road improvements and town beautification efforts are ongoing

These improvements make now a smart time to buy.

How to Start Your Home Search

Tools and Platforms to Use

• BrookWalsh.com for local MLS access

• Zillow and Realtor.com for broad listings

• Local Facebook groups for FSBOs and rentals

• Google Maps to explore neighborhoods virtually

Best Times of Year to Buy

• Spring: More listings hit the market

• Late Summer: Motivated sellers lower prices

• Winter: Fewer buyers = better deals, but tougher move-ins

The best time to buy? When you find the right home and act quickly.

Frequently Asked Questions (FAQs)

Q. What’s the average home price in Onaway, MI?

A. Most homes range from $80,000–$400,000, depending on location and condition. Lakefront homes trend higher.

Q. Is Onaway a good place for retirees?

A. Yes. It’s quiet, affordable, and surrounded by nature—plus low taxes and friendly neighbors.

Q. How far is Onaway from major cities?

A. Onaway is about 3.5 hours from Detroit, 1.5 hours from Traverse City, and 45 minutes from Alpena.

Q. Are there lakefront homes available?

A. Absolutely! Black Lake offers stunning waterfront options—ideal for vacation homes or full-time living.

Q. Can I rent out my property as a vacation rental?

A. Yes, short-term rentals are common, especially in the summer. Just check local zoning first.

Q. Is now a good time to invest in Onaway real estate?

A. Yes! Prices are still accessible, demand is growing, and rental income potential is strong.

Conclusion

Onaway, Michigan is more than a dot on the map—it's a peaceful escape with powerful investment potential. Whether you're buying your first home, planning a retirement retreat, or seeking a weekend getaway, this northern gem has something for everyone. With natural beauty, affordability, and a welcoming spirit, Onaway truly is one of Michigan’s best-kept secrets.