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View PropertiesAs of Apr, 27 2026
Rabbu ROI Score
Onekama offers attractive short-term rental potential, with a balance of healthy demand and revenue relative to property values.
Onekama, MI, is a small lakeside market on the shores of Portage Lake and near Lake Michigan that draws strong summer vacation demand, pushing July revenue to over $9,200 per listing. With only 7 active Airbnb listings and an average annual revenue of $44,799, the market is compact but offers meaningful earning potential for well-positioned properties. An ADR of $374 — above Michigan's $350 state average — signals that guests are willing to pay a premium for this scenic retreat, though investors should note the pronounced seasonality and below-average occupancy rate of 15%.
According to Rabbu market data, the Onekama short-term rental market shows:
| Metric | Context | Value |
|---|---|---|
| Active Airbnb Listings | As of Apr, 27 2026 | 7 |
| Average Daily Rate (ADR) | vs. $350 state avg. | $374 |
| Average Occupancy Rate | vs. 42% state avg. | 15% |
| RevPAN | ADR * Occupancy Rate | $57 |
| Average Monthly Revenue | Historical 12-month average | $3,733 |
| Average Annual Revenue | Historical 12-month average | $44,799 |
Data sources: Rabbu proprietary analytics as of Apr, 27 2026 and Zillow Home Value Index (ZHVI) as of Apr, 27 2026.
Investors are drawn to Onekama for its lake-driven vacation demand, limited supply, and nightly rates that exceed the Michigan average — all combining to create a compelling seasonal revenue opportunity.
Key investment factors
"Onekama presents an attractive but distinctly seasonal investment opportunity. The summer months of July and August are the clear revenue drivers, each generating over $9,000 in average monthly income, while winter months like March dip below $1,500 — a spread that underscores the vacation-rental nature of this market. The ROI score of 62 out of 100 reflects healthy revenue relative to property values and favorable supply-demand dynamics, balanced against below-average occupancy stability. For investors comfortable with a seasonal cash-flow profile and willing to optimize off-peak pricing, Onekama's limited competition and strong summer premiums create a genuinely appealing niche."
— Rabbu Market Analysis Team
Onekama's revenue profile is sharply seasonal: July ($9,295) and August ($9,003) generate roughly five to six times the income of the slowest month, March ($1,452). Shoulder months like June ($4,341) and September ($4,152) offer a solid bridge, but investors should plan for subdued earnings from November through April.
| Month | Trend | Revenue |
|---|---|---|
| January |
|
$1,789 |
| February |
|
$1,940 |
| March |
|
$1,452 |
| April |
|
$1,615 |
| May |
|
$2,900 |
| June |
|
$4,341 |
| July |
|
$9,295 |
| August |
|
$9,003 |
| September |
|
$4,152 |
| October |
|
$3,600 |
| November |
|
$2,391 |
| December |
|
$2,316 |
Property-size distribution data is not currently available for Onekama, reflecting the market's very small inventory of just 7 total listings. As the market grows, size-level breakdowns will provide more granular insight into supply gaps and competitive positioning.
| Size | Trend | Value |
|---|
ADR data by property size is not yet available for Onekama due to the limited number of active listings. The market-wide ADR of $374 exceeds Michigan's state average, suggesting strong per-night pricing regardless of configuration.
| Size | Trend | Value |
|---|
RevPAN breakdowns by bedroom count are not currently available for this market. At the aggregate level, Onekama's RevPAN stands at $57, reflecting the interplay between a high ADR and the market's low overall occupancy rate.
| Size | Trend | Value |
|---|
Occupancy data by property size is unavailable at this time. The market-wide average of 15% is well below Michigan's 42% state average, a natural consequence of Onekama's intense summer seasonality rather than a sign of weak demand during peak months.
| Size | Trend | Value |
|---|
Monthly revenue by property size is not yet reported for Onekama given the small listing pool. The market-wide average of $3,733 per month provides a baseline, though individual performance will vary significantly between peak and off-peak seasons.
| Size | Trend | Value |
|---|
Annual revenue breakdowns by bedroom count are not available for this micro-market. At the aggregate level, Onekama listings average $44,799 per year, a figure driven predominantly by strong summer performance.
| Size | Trend | Value |
|---|
Every Onekama listing offers a kitchen and parking, while 86% include a BBQ grill, washer, dryer, pet-friendliness, and a patio or balcony — signaling that guests expect a full vacation-home experience. Lake access (57%) and beach access (57%) are notable differentiators that likely command rate premiums, so investors should prioritize waterfront or water-adjacent properties when possible.
| Amenity | Trend | Value |
|---|---|---|
| Kitchen |
|
100% |
| Parking |
|
100% |
| BBQ Grill |
|
86% |
| Washer |
|
86% |
| Dryer |
|
86% |
| Pets |
|
86% |
| Patio or Balcony |
|
86% |
| Workspace |
|
71% |
| Self Check-in |
|
71% |
| Outdoor Furniture |
|
71% |
| Backyard |
|
71% |
| Lake Access |
|
57% |
| Beach Access |
|
57% |
| Beachfront |
|
43% |
Rabbu's ROI Score is a proprietary metric that evaluates short-term rental investment potential based on multiple factors.
| Factor | Onekama Performance | Weight |
|---|---|---|
| Revenue-to-Price Ratio | Average | 40% |
| Occupancy Stability | Below average | 30% |
| Market Growth Trend | Above average | 15% |
| Supply/Demand Balance | Above average | 15% |
Onekama's ROI score of 62 out of 100 places it in the 'Attractive Opportunity' band, driven by an average revenue-to-price ratio and above-average marks for both market growth trend and supply/demand balance. Occupancy stability scores below average, reflecting the market's pronounced seasonality rather than a lack of interest from travelers. Pairing this data with local regulatory research and a seasonal cash-flow model will give investors the clearest picture of what this lakeside market can deliver.
Understanding local STR regulations is essential before investing in Onekama. Here's the current regulatory landscape:
Short-term rental operators in Onekama, Michigan, may need to obtain a permit or register with the local township and comply with any applicable state-level requirements. Investors should verify current permitting rules directly with Manistee County and Onekama Township officials before listing a property.
Common restrictions that may apply include occupancy limits, minimum stay requirements, noise and nuisance ordinances, parking regulations, and rules imposed by homeowners' associations. Given Onekama's lakefront character, environmental and septic-system regulations could also factor into compliance, so a thorough review of local codes is recommended.
Short-term rental hosts in Michigan are generally subject to the state's 6% use tax and may owe local lodging or accommodation taxes. Platforms like Airbnb often collect and remit certain taxes on behalf of hosts, but operators should confirm their full obligations with a tax professional familiar with Michigan STR rules.
Regulations subject to change. Always verify with local authorities before purchasing. A Rabbu partner agent specializing in Onekama can provide current regulatory guidance.
Financing an Airbnb investment in Onekama requires lenders who understand STR income. Rabbu partner lenders offer:
"Over the next 12–18 months, Onekama's short-term rental market is expected to benefit from above-average growth trends in supply and demand, with listing counts expanding rapidly (363% year-over-year growth). Summer months should continue to anchor revenue, and modest ADR increases in the range of 3–5% are plausible as demand outpaces the still-limited supply. However, occupancy during the off-season (November through April) will likely remain subdued, so investors should plan cash reserves around a roughly 5:1 peak-to-trough monthly revenue swing. Improved amenity offerings and competitive pricing during shoulder months may help smooth some of that seasonal gap."
— Rabbu Market Analysis Team
Rabbu provides Airbnb and short-term rental market data and statistics across the United States. Our mission is to empower investors with accurate insights and easy-to-use tools, so they can confidently identify and act on the best opportunities in the Airbnb market.
Rabbu proprietary analytics as of Apr, 27 2026 and Zillow Home Value Index (ZHVI) as of Apr, 27 2026. Revenue projections are estimates based on comparable properties and do not guarantee future performance. With only 7 active listings, market-level averages may shift meaningfully as new properties enter or exit the market. Local regulations and tax obligations can change; investors should verify current rules with municipal and county authorities before purchasing.
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