Petersburg, MI
Population 1,261 · Michigan
About Petersburg, MI
Petersburg is a small town located in Michigan with a population of 1,261 residents according to the latest US Census Bureau American Community Survey data. The median household income is $76,071 per year, which is 1% above the national median of $75,149. The median age of 39.2 years is close to the US median age of 38.9 years.
Housing Market Overview
The housing market in Petersburg features a median home value of $197,100, which is 20% below the national median of $244,900. This positions Petersburg in a moderately priced market relative to the rest of the country. Median monthly rent is $1,019, 12% below the national average of $1,163/month. Of the 483 total housing units, 84% are owner-occupied (396 units) and 16% are renter-occupied (78 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Petersburg shows an unemployment rate of 3.2%, which is lower than the national rate of 3.7%, indicating a relatively strong job market. The poverty rate stands at 4.0%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Petersburg have an average one-way commute time of 28.3 minutes.
Education & Demographics
18.2% of Petersburg 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 3.2% White, 1.0% Hispanic or Latino, 0.0% Black or African American, and 0.0% Asian residents, with 0.7% of the population being foreign-born.
Cost of Living in Petersburg, MI
Compared to national averages, Petersburg has a median household income of $76,071 (1% above the national median of $75,149). Home values average $197,100, which is 20% below the national median. Monthly rent at $1,019 is 12% below the US average of $1,163. Within Michigan, Petersburg's income is 15% above the state average of $66,017, and home values are 7% above the state median of $183,391.
Why Live in Petersburg, MI?
Petersburg offers a strong local economy with a median household income of $76,071, well above the national average, and affordable housing with a median home value of $197,100, below the US average of $244,900, and rent that’s lower than the national average at $1,019/month. Additionally, the city features a strong job market with an unemployment rate of just 3.2%, and a low poverty rate of 4.0%, better than the national average.
Petersburg has a population of 1,261 with a median age of 39.2 years. Compare Petersburg with other cities to see how it stacks up, or explore all cities in Michigan.
Similar Cities Near Petersburg
Cities in Michigan with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Ontonagon | 1,266 | $46,806 | $92,100 | Compare |
| Gwinn | 1,268 | $52,609 | $94,000 | Compare |
| Schoolcraft | 1,268 | $82,813 | $208,300 | Compare |
| Fruitport | 1,269 | $80,769 | $193,200 | Compare |
| Edwardsburg | 1,244 | $53,661 | $115,400 | Compare |
| Reading | 1,241 | $48,804 | $103,300 | Compare |
| Onsted | 1,283 | $65,349 | $166,500 | Compare |
| Birch Run | 1,236 | $65,313 | $185,900 | 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 Petersburg With Other Cities
Frequently Asked Questions about Petersburg
What is the population of Petersburg, MI?
The population of Petersburg, MI is 1,261 according to the latest US Census Bureau American Community Survey estimates. This makes it a small town in Michigan.
What is the median household income in Petersburg?
The median household income in Petersburg, MI is $76,071 per year, which is 1% above the national median of $75,149.
What is the median home value in Petersburg?
The median home value in Petersburg, MI is $197,100, which is 20% below the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Petersburg?
The median monthly rent in Petersburg, MI is $1,019, which is 12% below the national average of $1,163/month.
What is the unemployment rate in Petersburg?
The unemployment rate in Petersburg, MI is 3.2%, compared to the national average of 3.7%. This lower-than-average rate suggests a relatively healthy local job market.
Is Petersburg, MI a good place to live?
Petersburg offers above-average incomes, affordable housing, and a strong job market. With a population of 1,261 and a median age of 39.2, the city appeals to a broad range of residents.
How educated is Petersburg, MI?
18.2% of residents in Petersburg 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 Petersburg?
Key cost-of-living indicators for Petersburg, MI: median home value is $197,100 (20% below national), median rent is $1,019/month, and median household income is $76,071. The home-value-to-income ratio is 2.6x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Petersburg?
The poverty rate in Petersburg, MI is 4.0%, compared to the national average of 12.4%. This below-average poverty rate reflects generally favorable economic conditions in the community.
How diverse is Petersburg, MI?
Petersburg's population is 3.2% White, 1.0% Hispanic or Latino, 0.0% Black or African American, 0.0% Asian, and 0.0% two or more races. 0.7% of residents are foreign-born.