Petoskey : Michigan

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What it's Like to Retire in Petoskey

Petoskey is a beautiful little town on Little Traverse Bay of Lake Michigan, in the northern part of the state. The downtown is exceptionally pretty, situated on hills overlooking the Bay. There are interesting shops and restaurants plus a nice park. It is definitely a resort town and a place where snowbirds come for the summer. The population is just under 6,000 and growing. The town seems larger than that. Nearby Harbor Springs is also beautiful and considered part of the "Metro".

 

Where to Retire in Petoskey and Home Prices

There are many choices for baby boomers looking to retire in Petoskey or nearby Harbor Springs (which is even more affluent). You can live in a single family home in a nice neighborhood and walk to town. There are active communities located to the north, many of which offer golf, tennis, even skiing. The same goes for south of town along the Bay.  In the spring of 2017 the Zillow Home Value Index was $214,800, up 8% from the previous year and slightly higher than the national Index.

 

What is special about Petoskey

Its setting along the lake and high on a hill is spectacular. The downtown is exceptionally nice. So are the many communities or neighborhoods you can live in. The boating, the biking (there is a 28 mile trail along the Bay), the golf and other activiites are excellent.  This part of Michigan is really nice and unspoiled.

 

What is not special about Petoskey

Winters are cold and summers short. It is a long drive to bigger towns in southern Michigan.

 

Who will like retirement in Petoskey

At least a third of Petoskey homes are occupied by snowbirds or used as second homes. People from all over the country come here for the lifestyle, which is very active. The county voted Republican in the 2016 election.

 

Local economy is driven by

Tourism and retirement drives the economy.

 

Climate and Physical Environment

Petoskey is the east side of Lake Michigan near its top.  The average Jan temp is 20F. and the average Jul temp is in the high 60s. Saginaw (MI) is 140 miles away.

 

Restaurants & Cultural Scene

There are a number of restaurants and coffee shops in the downtown area.  The library is well-funded with an annual budget of $1.1 million. North Central Michigan College is located here.

 

Crime

Crime is so low it barely registers.

 

Medical facilities

McLaren-Northern Michigan is the local hospital.

 

Transportation

There is a bus station and a private airport.

 

Valuable Links

Petoskey page on Wikipedia

 

What people are saying about Petoskey

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Facts about PETOSKEY
  • State: MI
  • Environment: Lake,Small Town,Boating Community,Outdoor Oriented,Biking Community,Golf Community,Resort Community,
  • City Population: Less than 10,000
  • Median age of Population: 45-64
  • Avg Jan Temperature: 0 -20
  • Avg July Temperature: 60-80
  • Median HH Income: 41,001-60,000
  • Average Home Price (MLS): $200,001-$300,000
  • Annual Property Tax on a $200,000 house: 2000-4000
  • Total Crime Index: <80 (Very low)
  • Cost of Living Index: 101-110 (slightly above average)
  • Culture Index: 101-110 (slightly above average)
  • State Sales Tax: Yes
  • State Income Tax: Yes
  • Name of the Guide: boomer1

Can you add to or correct these Facts? Or do you have a photo of this community we could use? If so, please click on Edit these facts

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