Affordable
Expensive
Expensive
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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 $354,324, higher than the Michigan average of $250,415.
The average cost of rent is $1,158/mo in Petoskey, primarily driven by the current value of real estate in the Petoskey area. In Petoskey, 32.93% of households rent, and 48.23% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Petoskey is $6,927 per month. Households that rent pay about 16.71% of their income on rent here. Petoskey’s most expensive areas are in the northern regions, while the cheapest areas are in the northwestern parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Clarion, MI: equally priced homes
- Conway, MI: less expensive homes
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- Epsilon, MI: less expensive homes
- Bay Shore, MI: equally priced homes
- Harbor Springs, MI: equally 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: less expensive homes
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