Petoskey, MI population, income and ZIP codes

Petoskey city is a mid-size town in Michigan, with 5,851 residents counted in the Census American Community Survey 2019-2023 ACS 5-year estimates, which places it #162 of 745 ranked by population — larger than 78% of them. The median age here is 42.9 years against 39.1 nationally, a slightly older profile than the country as a whole. Places under 65,000 residents only appear in the five-year release, never the one-year file, so these values pool sixty months of responses and lag the current year by design.

Households in Petoskey city earn a median of $71,783 a year, 8.6% below the national figure of $78,538 and 16% above the $61,715 median for the 438 Michigan cities we cover. Median household income counts every pre-tax dollar arriving at an address — wages, self-employment, Social Security, pensions, interest and public assistance — for everyone living there, so multi-earner households pull the figure up even where individual pay is modest. Poverty reaches 8.4% of residents here, below the 12.4% national rate.

The typical owner-occupied home in Petoskey city is valued at $319,300, 5.2% above the national figure and 92% above the $166,100 peer median, while median gross rent runs $872 a month, 38% below the national figure, or roughly $10,464 across a full year. A household on the local median income would put about 14.6% of gross pay toward that rent against the federal 30% cost-burden threshold, so renting here is cheap relative to what people here earn. The home-price-to-income ratio works out to 4.4×, against roughly 3.9× nationally, so buying is harder here than in the average US market. 60.3% of occupied homes are owner-occupied versus 65% nationally, so the market leans more heavily on renters. Rent is reported gross — contract rent plus tenant-paid utilities — which is why it runs above the advertised price on a listing for the same unit.

No figure on this page is estimated by us; each one comes straight from the published ACS tables for this area. Small-area estimates still carry wider margins of error than state or national figures, so check the linked ACS tables before relying on them for lending, appraisal or legal work.