Median Age
43 Years
Largest Age Group
25-34 Years
Approximately 14% of Residents
Under 20
19%
Over 65
25%
Avg Rent
$1,354
Population
5,372
Renter Mix
46% Rent
Petoskey sits on the southern shore of Little Traverse Bay along Lake Michigan in Northern Michigan, making it one of the most scenic small cities in the state. As the county seat of Emmet County, it attracts renters who appreciate natural beauty alongside small-town character. The city is the birthplace of the Petoskey stone — Michigan's official state stone, a fossilized coral found along its lakeshores — and has long been a popular Midwestern resort destination. If you're searching for apartments for rent in Petoskey, you'll find a community where outdoor recreation, historic architecture, and local culture all come together within a compact six-square-mile area. The walkable Gaslight Shopping District is one of Petoskey's most distinctive draws, lined with locally owned shops, restaurants, and well-preserved Victorian-era architecture. Renters will find garden-style apartment communities and smaller residential buildings that fit right into the city's historic character. Petoskey State Park and Magnus City Park Beach put Lake Michigan's shoreline within easy reach year-round, think swimming and kayaking in summer, snowshoeing and ice skating in winter. Nub's Nob ski resort is about 12 miles away, so winter recreation is a genuine part of everyday life here. And for those who enjoy the local food and drink scene, Mackinaw Trail Winery and Petoskey Farms Vineyard and Winery are just a short drive out of town. The local economy is anchored by healthcare, tourism, and retail, with McLaren Northern Michigan Hospital among the area's largest employers. US-31 and US-131 run through the city, connecting you to Traverse City to the south and the Straits of Mackinac to the north. Pellston Regional Airport, about 18 miles away, offers regional flight connections when you need them. With a population just under 6,000, Petoskey keeps commutes short and the community feel close, a solid fit for renters who want a quieter pace of life without giving up everyday conveniences.
Median Household Income
$64,712
Average: $97,815
Education
2,432
Residents Have a Degree
Job Market
2,901
Workers Employed
Median Age
43 Years
Largest Age Group
25-34 Years
Approximately 14% of Residents
Under 20
19%
Over 65
25%
Housing Distribution
Petoskey has more homeowners than renters.
Education Distribution
Review this city's overall education levels.
As of August 2026, the average apartment rent in Petoskey, MI is $1,251 for a studio, $1,368 for one bedroom, $1,699 for two bedrooms, and $1,622 for three bedrooms. Apartment rent in Petoskey has decreased by -2.3% in the past year.
Explore how walkable, bikeable, drivable, and transit-friendly Petoskey, MI is for everyday living.
Somewhat Walkable
Walkability
Exceptionally Drivable
Drivability
Somewhat Bikeable
Bikeability
Public
Grades K-5
224 Students
Public
Grades K-5
219 Students
Public
Grades K-5
227 Students
Public
Grades PK-5
240 Students
Public
Grades K-12
79 Students
Public
Grades 6-8
585 Students
Public
Grades K-12
79 Students
Public
Grades 9-12
839 Students
Public
Grades K-12
79 Students
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© 2026. All rights reserved.
† Our analysis of utilities, groceries, transportation, healthcare, home prices, and other goods and services is sourced from the Cost of Living Index, a respected benchmark published by the Council for Community and Economic Research (C2ER) that provides a thorough overview of living expenses across different regions.
Rent data is provided by CoStar Group’s Market Trend reports. As the industry leader in commercial real estate information, analytics, and news, CoStar conducts extensive research to produce and maintain a comprehensive database of commercial real estate information. We combine this data with public record to provide the most up-to-date rental information available.
Consumer goods, services, and home prices are sourced from the Cost of Living Index published by the Council for Community and Economic Research (C2ER). The data on this page is updated quarterly. It was last published in June 2026.
Demographic information comes from Neustar and combines detailed address data with U.S. Census and American Community Survey statistics to produce reliable local estimates.