Petoskey, MI
Population 5,851 · Michigan
About Petoskey, MI
Petoskey is a small community in Michigan with a population of 5,851 residents. The median household income is $71,783 per year, which is above the national average. The median age in Petoskey is 42.9 years.
Housing in Petoskey has a median home value of $319,300 and median monthly rent of $872. Of the 3,202 total housing units, the majority are owner-occupied, with 1,548 owner-occupied and 1,019 renter-occupied units.
The unemployment rate in Petoskey is 1.5% and the poverty rate is 8.4%. 52.8% of residents hold a bachelor's degree or higher. The average commute time is 15.9 minutes.
How Petoskey Ranks in Michigan
Cost of Living in Petoskey, MI
Compared to national averages, Petoskey has a median household income of $71,783 (4% below the national median of $75,149). Home values average $319,300, which is 30% above the national median. Monthly rent at $872 is 25% below the US average of $1,163. Within Michigan, Petoskey's income is 9% above the state average of $66,017, and home values are 74% above the state median of $183,391.
Why Live in Petoskey, MI?
Petoskey offers rent that’s lower than the national average at $872/month, and a strong job market with an unemployment rate of just 1.5%, and a well-educated community where 52.8% of residents hold a bachelor’s degree or higher. Additionally, the city features a low poverty rate of 8.4%, better than the national average, and short commute times averaging just 15.9 minutes.
Potential considerations include median household income ($71,783) that falls below the national average. However, Petoskey’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Petoskey has a population of 5,851 with a median age of 42.9 years. Compare Petoskey with other cities to see how it stacks up, or explore all cities in Michigan.
Similar Cities Near Petoskey
Cities in Michigan with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Swartz Creek | 5,856 | $73,862 | $168,900 | Compare |
| Richmond | 5,839 | $61,715 | $228,000 | Compare |
| Buena Vista | 5,904 | $38,835 | $51,800 | Compare |
| Houghton Lake | 5,761 | $50,861 | $122,800 | Compare |
| Belding | 5,949 | $55,895 | $152,700 | Compare |
| Holly | 5,971 | $61,221 | $174,900 | Compare |
| Zeeland | 5,691 | $49,367 | $248,100 | Compare |
| Dowagiac | 5,677 | $38,433 | $110,300 | 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.
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Frequently Asked Questions about Petoskey
What is the population of Petoskey, MI?
The population of Petoskey, MI is 5,851 according to the latest Census data.
What is the median household income in Petoskey?
The median household income in Petoskey, MI is $71,783 per year.
What is the median home value in Petoskey?
The median home value in Petoskey, MI is $319,300.
What is the average rent in Petoskey?
The median monthly rent in Petoskey, MI is $872.
What is the unemployment rate in Petoskey?
The unemployment rate in Petoskey, MI is 1.5%.