Home Price Key
Affordable
Average
Expensive
These days, finding an affordable place to live in the Petoskey area can be challenging. Home prices in Petoskey are now at a median cost of $243,550, higher than the Michigan average of $196,062.
The average cost of rent is $847/mo in Petoskey, primarily driven by the current value of real estate in the Petoskey area. While nearly 42.73% of residents own their homes outright in Petoskey, 26.72% rent.
Housing affordability isn’t just about home prices, though. The average household income in Petoskey is $5,676 per month. Households that rent pay about 14.92% of their income on rent here. Petoskey's most expensive areas are in the central regions, while the cheapest areas are in the northwestern parts of the city.
Nearby Cities
- Clarion, MI: equally priced homes
- Conway, MI: less expensive homes
- Zenith Heights, MI: equally priced homes
- Wildwood, MI: less expensive homes
- Walloon Lake, MI: less expensive homes
- Epsilon, MI: less expensive homes
- Bay Shore, MI: equally priced homes
- Harbor Springs, MI: higher priced homes
- Oden, MI: less expensive homes
- Alanson, MI: less expensive homes
Cities with Similar Populations
- La Grande, OR: less expensive homes
- Shawano, WI: less expensive homes
- Sharonville, OH: less expensive homes
- Seven Oaks, SC: less expensive homes
- Seven Corners, VA: higher priced homes
- Setauket-East Setauket, NY: higher priced homes
- Richlands, NC: less expensive homes
- Mason, MI: less expensive homes
- Levelland, TX: less expensive homes
- Lake Villa, IL: equally priced homes
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