Cheboygan, MI

  • Overview
  • Performance
  • Listings
  • Buy Box

Key Performance Metrics

Market snapshot

Performance indicators for the Cheboygan short-term rental market based on reliable data.

Listings

91 / 284

Reliable / Active

Cap Rate

15%

Middle-Earners Gross Yield

Revenue

$33,536

Middle-Earners Revenue

Occupancy

57%

Middle-Earners Occupancy

Home Value

$224,658

Median Home Sale Price

Top Earners

$72,466

Top-Earners Revenue

Cheboygan

Market Revenue Seasonality

Top Listings

Highest revenue

The highest-performing listings in Cheboygan.

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C

Challenging to Investors

Cheboygan Regulations

STRs are allowed but heavily restricted with a hard cap of 12 citywide permits and a complete ban in all residential districts, leaving only limited non‑residential zones eligible; obtaining a permit is competitive, requiring inspections, fees, and ongoing compliance, which adds cost and uncertainty.

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About Cheboygan

Cheboygan is a small city nestled in the northern Lower Peninsula of Michigan, serving as the county seat of Cheboygan County. With a population of roughly 4,700 residents, the community has the feel of a working harbor town with a steady year-round population and a noticeable swell of summer visitors. Set on the western shore of Lake Huron where the Cheboygan River empties into the lake, it has long been known as a gateway to the Mackinac region and the surrounding inland lakes. The closest mid-sized city is Petoskey, about 30 miles to the southwest along the Lake Michigan shoreline, while Traverse City lies roughly 75 miles to the southwest and Detroit is about 300 miles to the south.

Just north of the city, Cheboygan State Park spreads across a wooded peninsula jutting into Lake Huron, offering more than a mile of sandy beach, picnic areas, and a network of hiking trails that wind through old-growth white pines. The park lies within about a ten-minute drive of downtown and provides a quieter alternative to the busier destinations farther north. It is popular with families for its campground and the wide-open views across the lake.

Cheboygan also marks the northern terminus of the Inland Waterway, a 38-mile chain of navigable rivers and lakes that runs south through Mullett Lake, Burt Lake, and the Crooked and Pigeon rivers before reaching Conway near Petoskey. Boaters and paddlers use the city's marina as a launch point for day trips or longer journeys through this scenic corridor, which passes through state forest lands and small resort communities. The route is one of the most popular inland boating trails in the Midwest and draws visitors who prefer quiet freshwater cruising to open-lake sailing.

About 20 miles to the north, Mackinaw City and the Mackinac Bridge anchor the other end of the straits, with ferry service to Mackinac Island. Many travelers stage in Cheboygan for the short drive up to catch an early ferry, browse the historic fort and downtown shops, or cross the bridge into the Upper Peninsula for day trips to Tahquamenon Falls or the Soo Locks at Sault Ste. Marie.

For short-term-rental investors, Cheboygan offers an appealing combination of small-town character, lakefront access, and proximity to some of Michigan's most visited destinations. Its setting at the meeting point of Lake Huron and the inland lake country means guests can choose between a beach day, a paddle through the Inland Waterway, or a trip to Mackinac Island, all without traveling far. The summer tourism season is strong, shoulder months like September and early October still draw foliage visitors, and winter brings ice fishermen and snowmobilers to the frozen lakes and trail networks, giving the market a longer booking window than many comparable northern towns.

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