Everything You Should Know Before Moving to Petoskey, MI
Considering a move to Petoskey, MI? This charming lakeside city of 5,876 offers affordable living with a median home price of $242,000 and average rents around $920. Petoskey features a low violent crime rate (132 per 100K), a short average commute of 14 minutes, and strong access to healthcare at McLaren Northern Michigan hospital. Residents enjoy scenic seasons, good public schools, and a relaxed pace—making Petoskey a great choice for families, retirees, or anyone seeking a friendly northern Michigan lifestyle.
Demographics - Petoskey, MI
Demographics - Petoskey, MI
Petoskey is a close-knit community of 5,876 residents with a median age of 43.8, reflecting a mature and settled population. The city is predominantly White, with small percentages of other ethnic groups, and about 3.5% of residents speak a language other than English at home. With a moderate population density, Petoskey offers a welcoming environment for newcomers.
Population:
5,876
Density:
1,072 per sq mi
Median Age:
43.8
Gender Ratio:
89 males per 100 females
Non-English Speakers Percentage:
3.5%
Ethnic Composition
White:
92.1%
Black:
1.0%
Asian:
1.2%
Others:
5.7%
Cost Of Living
What is the average cost of living in Petoskey, MI?
Living in Petoskey is affordable, with a median home value of $242,000 and average rent around $920 per month. The overall cost of living index is slightly below the national average, making it a budget-friendly choice for families and retirees alike. Utilities and daily expenses, such as groceries and transportation, remain reasonably priced for most residents.
Median House Value:
$242,000
Gross Rent:
$920
Monthly Electricity Charges:
$110
Auto Insurance:
$1,450
House Owner Cost With Mortgage:
$1,520
House Owner Cost Without Mortgage:
$520
State Taxes:
Low:
4.25%
|
High:
4.25%
Cost Of Living Index:
97.5
Grocery:
94.0
Housing:
89.0
Utilities:
98.0
Transportation:
94.0
Health Care:
95.0
Miscellaneous:
93.0
Crime
Is Petoskey, MI a safe place to live?
Petoskey boasts a low violent crime rate of just 132 incidents per 100,000 residents, contributing to a strong sense of safety in the community. Property crime is also relatively low, with residents facing a 1 in 93 chance annually. This safe environment is ideal for families and those seeking peace of mind.
Violent Crimes Per 100k:
132
Property Crimes Per 100k:
1,080
Crime Index:
1,212
Chance Of Violent Crime:
1 in 757
Chance Of Property Crime:
1 in 93
Weather
What is the weather like in Petoskey, MI year-round?
Residents of Petoskey enjoy four distinct seasons, with mild summers averaging highs of 78°F and cold winters dipping to 14°F. The area receives about 33.6 inches of rainfall annually and experiences sunshine nearly half the year. This climate offers beautiful seasonal changes and a variety of outdoor activities year-round.
Winter
Min:
14°F
Max:
29°F
Spring
Min:
34°F
Max:
55°F
Summer
Min:
56°F
Max:
78°F
Fall
Min:
39°F
Max:
60°F
Average Rainfall Inches:
33.6 inches
Sunny Days Percentage:
48%
Neighbors
Petoskey households typically earn a median income of $56,400, with a relatively low poverty rate of 12.7%. Most residents have at least a high school diploma, and the community enjoys short average commutes of about 14 minutes. The area is known for its friendly neighbors and low unemployment, making it an inviting place to settle down.
Median Income:
$32,800
Household Income:
$56,400
Family Income:
$74,800
Per Capita Income:
$32,800
Income Male:
$41,000
Income Female:
$30,100
Poverty Rate:
12.7%
Non English Speakers:
3.5%
Rent:
$920
Unemployment Rate:
4.8%
Public Transport Usage:
0.7%
Commute Time:
13.9 minutes
Education
High School or Higher:
94.8%
Bachelors or More:
36.2%
Education
How are the schools in Petoskey, MI?
Petoskey offers quality educational options, including Petoskey High School and Central Elementary, both known for dedicated staff and manageable class sizes. The city is also home to North Central Michigan College, providing local access to higher education for over 2,000 students. Families benefit from a mix of public and private schools, supporting a strong learning environment throughout the community.
Public Schools
Name:
Petoskey High School
Street:
1500 Hill St
Phone:
231-348-2100
Students:
850
Student Teacher Ratio:
18.2
Name:
Central Elementary School
Street:
410 State St
Phone:
231-348-2120
Students:
320
Student Teacher Ratio:
16.5
Private Schools
Name:
St. Francis Xavier School
Street:
220 W Lake St
Phone:
231-347-3651
Students:
220
Colleges
Name:
North Central Michigan College
City:
Petoskey
State:
MI
Distance:
2 miles
Students:
2,400
Healthcare
Petoskey offers strong access to healthcare, with McLaren Northern Michigan hospital providing comprehensive emergency and surgical services. The city has 2.3 physicians per 1,000 residents, and nearly 94% of people carry health insurance. This ensures quality care is readily available for both individuals and families.
Major Hospitals
Name:
McLaren Northern Michigan
Address:
416 Connable Ave, Petoskey, MI 49770
Phone:
(231) 487-4000
Type:
General & Surgical
Emergency Services:
Yes
Physicians Per 1000:
2.3
Health Insurance Coverage:
93.7%
Health Care Index:
77.0
Housing Market
What is the housing market like in Petoskey, MI?
The local housing market is stable and affordable, with a median home price of $242,000 and average rent for a two-bedroom at $920. Most homes are owner-occupied and property values have appreciated by over 7% in the past year. Low foreclosure and vacancy rates indicate a healthy and appealing real estate environment.
Median Home Price:
$242,000
Average Rent For 2 Bedroom:
$920
Owner Occupied Rate:
62.8%
Rental Vacancy Rate:
6.1%
Home Appreciation Rate (1yr):
7.2%
New Construction Rate:
1.1%
Foreclosure Rate:
0.6%
DMV Information
Petoskey residents can handle their driver and vehicle needs at the Michigan Secretary of State office conveniently located on US-131. The office provides essential DMV services and is easily accessible within the city. Additional resources and appointment information are available on the Michigan Secretary of State website.
State:
Michigan
Department:
Michigan Secretary of State
Address:
1321 US-131, Petoskey, MI 49770
Phone:
1-888-767-6424
Website:
Disclaimer: The information provided on this page is based on publicly available sources including AccuWeather, U.S. Census Bureau, local government data, and third-party partners such as Neustar. While we strive to ensure accuracy, all data is provided “as is” and should be independently verified before making any decisions. Movers.com makes no guarantees regarding the completeness or reliability of the information.