49765, Onaway, MI

The 49765 zip code of Onaway, Michigan is located in the Upper Peninsula of the state and has a population of just over 1,000 people. The median household income in this zip code is just under $40,000 and the median home value is just over $130,000. This makes Onaway one of the more affordable areas in Michigan and also one of the most expensive zip codes in the country.

Home equity is a key factor when it comes to buying a home and there are several reasons why home prices in Onaway are so high. First, there are very few homes for sale in this area which means that buyers have plenty of opportunity to negotiate a higher price. Second, many homes here were built in the early 2000s which means that they are relatively new and have high resale values. Finally, Onaway is located close to both Traverse City and Grand Rapids which means that there is a large pool of potential buyers who want to live here.

While home prices in Onaway are high by any measure, they may not be as high as they will be in the future. Several factors could lead to increased demand for homes in this area including an increase in population or economic growth. In any case, it would be wise for anyone looking to buy or sell a home in Onaway to consult with an experienced real estate agent who can help them get the best possible deal