Onaway, MI
Population 701 · Michigan
About Onaway, MI
Onaway is a small community located in Michigan with a population of 701 residents according to the latest US Census Bureau American Community Survey data. The median household income is $40,159 per year, which is 47% below the national median of $75,149. The median age of 51.8 years is notably older the US median age of 38.9 years, suggesting a more established community with a higher proportion of long-term residents.
Housing Market Overview
The housing market in Onaway features a median home value of $59,100, which is 76% below the national median of $244,900. This makes Onaway one of the more affordable markets in the country, potentially attractive for first-time homebuyers. Median monthly rent is $600, 48% below the national average of $1,163/month. Of the 476 total housing units, 66% are owner-occupied (264 units) and 34% are renter-occupied (137 units). The balanced mix of owners and renters indicates a diverse housing market.
Economy & Employment
The local economy in Onaway shows an unemployment rate of 6.7%, which is significantly above the national rate of 3.7%, suggesting economic challenges in the area. The poverty rate stands at 21.7%, above the national average of 12.4%. Workers in Onaway have an average one-way commute time of 24.8 minutes.
Education & Demographics
9.0% of Onaway residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. The lower educational attainment rate may reflect the area's industry mix, with more employment in trades, manufacturing, or agricultural sectors. The community's demographic composition includes 2.7% White, 3.4% Hispanic or Latino, 0.0% Black or African American, and 0.7% Asian residents, with 1.7% of the population being foreign-born.
How Onaway Ranks in Michigan
Cost of Living in Onaway, MI
Compared to national averages, Onaway has a median household income of $40,159 (47% below the national median of $75,149). Home values average $59,100, which is 76% below the national median. Monthly rent at $600 is 48% below the US average of $1,163. Within Michigan, Onaway's income is 39% below the state average of $66,017, and home values are 68% below the state median of $183,391.
Why Live in Onaway, MI?
Onaway offers affordable housing with a median home value of $59,100, below the US average of $244,900, and rent that’s lower than the national average at $600/month, and short commute times averaging just 24.8 minutes.
Potential considerations include median household income ($40,159) that falls below the national average. However, Onaway’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Onaway has a population of 701 with a median age of 51.8 years. Compare Onaway with other cities to see how it stacks up, or explore all cities in Michigan.
Similar Cities Near Onaway
Cities in Michigan with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Ruby | 705 | $66,910 | $211,200 | Compare |
| Britton | 695 | $78,125 | $157,500 | Compare |
| Pittsford | 711 | $0 | $111,700 | Compare |
| Hartland | 722 | $108,750 | $310,800 | Compare |
| Presque Isle Harbor | 722 | $101,250 | $252,700 | Compare |
| Maple Rapids | 724 | $50,357 | $112,500 | Compare |
| Augusta | 726 | $58,958 | $135,200 | Compare |
| Calumet | 676 | $25,234 | $82,500 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in Michigan
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
Compare Onaway With Other Cities
Frequently Asked Questions about Onaway
What is the population of Onaway, MI?
The population of Onaway, MI is 701 according to the latest US Census Bureau American Community Survey estimates. This makes it a small community in Michigan.
What is the median household income in Onaway?
The median household income in Onaway, MI is $40,159 per year, which is 47% below the national median of $75,149.
What is the median home value in Onaway?
The median home value in Onaway, MI is $59,100, which is 76% below the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Onaway?
The median monthly rent in Onaway, MI is $600, which is 48% below the national average of $1,163/month.
What is the unemployment rate in Onaway?
The unemployment rate in Onaway, MI is 6.7%, compared to the national average of 3.7%. Job seekers may want to research the dominant industries in the area.
Is Onaway, MI a good place to live?
Onaway offers a moderate cost of living, affordable housing, and growing employment opportunities. With a population of 701 and a median age of 51.8, the city appeals to established professionals and retirees.
How educated is Onaway, MI?
9.0% of residents in Onaway aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. The educational profile reflects the area's industry mix and employment landscape.
What is the cost of living in Onaway?
Key cost-of-living indicators for Onaway, MI: median home value is $59,100 (76% below national), median rent is $600/month, and median household income is $40,159. The home-value-to-income ratio is 1.5x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Onaway?
The poverty rate in Onaway, MI is 21.7%, compared to the national average of 12.4%. Residents and prospective movers should be aware of the economic challenges facing parts of this community.
How diverse is Onaway, MI?
Onaway's population is 2.7% White, 3.4% Hispanic or Latino, 0.0% Black or African American, 0.7% Asian, and 0.1% two or more races. 1.7% of residents are foreign-born.