Median real estate price in the City Center of Petoskey is $403,349, which is more expensive than 79.2% of the neighborhoods in Michigan and 54.9% of the neighborhoods in the U.S.
The average rental price in Petoskey City Center is currently $1,826, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 67.0% of the neighborhoods in Michigan.
Petoskey City Center is a rural neighborhood (based on population density) located in Petoskey, Michigan.
Real estate in the City Center of Petoskey, MI is primarily made up of small (studio to two bedroom) to medium sized (three or four bedroom) apartment complexes/high-rise apartments and single-family homes. Most of the residential real estate is occupied by a mixture of owners and renters. Many of the residences in the City Center neighborhood are established but not old, having been built between 1970 and 1999. A number of residences were also built between 2000 and the present.
Vacant apartments or homes are a major fact of life in Petoskey City Center. The current real estate vacancy rate here is 25.7%. This is higher than the rate of vacancies in 92.4% of all U.S. neighborhoods. A relatively large percentage of housing here is seasonally occupied (20.4%). This can occur in vacation areas, and occasionally it is also found in neighborhoods that are primarily filled with college students, as some apartments could be vacant when school is not in session. If you live here year round, you may find that a number of buildings in your neighborhood are actually empty.
Many things matter about a neighborhood, but the first thing most people notice is the way a neighborhood looks and its particular character. For example, one might notice whether the buildings all date from a certain time period or whether shop signs are in multiple languages. This particular neighborhood in Petoskey, the City Center neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.
If you are planning to retire in Michigan, this neighborhood should be on your must-see list. For many reasons, Petoskey City Center may be considered a retiree's dream neighborhood. According to NeighborhoodScout's exclusive analysis and metrics, it's peaceful and quiet, has above average safety from crime compared to other neighborhoods in Michigan, while also offering a diverse range of housing options. This, along with the vibrant mix of very educated seniors and other age groups who choose to live here, makes the neighborhood more retiree-friendly than 99.6% of neighborhoods in MI. If a Michigan retirement is in your future, this neighborhood should be one of the places you visit.
There are more people living in the Petoskey City Center neighborhood employed as sales and service workers (62.1%) than almost any neighborhood in the country. From fast-food service workers to major sales accounts, sales and service workers make up the largest proportion of our national employment picture. But despite that size and importance nationally, this neighborhood still stands out as unique due to the dominance of people living here who work in such occupations.
Did you know that the Petoskey City Center neighborhood has more Czechoslovakian and Finnish ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 1.2% of this neighborhood's residents have Czechoslovakian ancestry and 1.8% have Finnish ancestry.
Petoskey City Center is also pretty special linguistically. Significantly, 13.0% of its residents five years old and above primarily speak Polish at home. While this may seem like a small percentage, it is higher than 99.0% of the neighborhoods in America.
There are two complementary measures for understanding the income of a neighborhood's residents: the average and the extremes. While a neighborhood may be relatively wealthy overall, it is equally important to understand the rate of people - particularly children - who are living at or below the federal poverty line, which is extremely low income. Some neighborhoods with a lower average income may actually have a lower childhood poverty rate than another with a higher average income, and this helps us understand the conditions and character of a neighborhood.
The neighbors in the City Center neighborhood in Petoskey are lower-middle income, making it a below average income neighborhood. NeighborhoodScout's research shows that this neighborhood has an income lower than 67.2% of U.S. neighborhoods. In addition, 3.3% of the children seventeen and under living in this neighborhood are living below the federal poverty line, which is a lower rate of childhood poverty than is found in 70.3% of America's neighborhoods.
A neighborhood is far different if it is dominated by enlisted military personnel rather than people who earn their living by farming. It is also different if most of the neighbors are clerical support or managers. What is wonderful is the sheer diversity of neighborhoods, allowing you to find the type that fits your lifestyle and aspirations.
In the Petoskey City Center neighborhood, 41.4% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is sales and service jobs, from major sales accounts, to working in fast food restaurants, with 37.9% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (10.6%), and 10.1% in manufacturing and laborer occupations.
The languages spoken by people in this neighborhood are diverse. These are tabulated as the languages people preferentially speak when they are at home with their families. The most common language spoken in the Petoskey City Center neighborhood is English, spoken by 95.3% of households. Other important languages spoken here include Polish, Spanish and Italian.
Culture is the shared learned behavior of peoples. Undeniably, different ethnicities and ancestries have different cultural traditions, and as a result, neighborhoods with concentrations of residents of one or another ethnicities or ancestries will express those cultures. It is what makes the North End in Boston so fun to visit for the Italian restaurants, bakeries, culture, and charm, and similarly, why people enjoy visiting Chinatown in San Francisco.
In the City Center neighborhood in Petoskey, MI, residents most commonly identify their ethnicity or ancestry as German (26.1%). There are also a number of people of English ancestry (11.5%), and residents who report Irish roots (9.6%), and some of the residents are also of Polish ancestry (9.5%), along with some Italian ancestry residents (7.8%), among others.
How you get to work – car, bus, train or other means – and how much of your day it takes to do so is a large quality of life and financial issue. Especially with gasoline prices rising and expected to continue doing so, the length and means of one's commute can be a financial burden. Some neighborhoods are physically located so that many residents have to drive in their own car, others are set up so many walk to work, or can take a train, bus, or bike. The greatest number of commuters in Petoskey City Center neighborhood spend under 15 minutes commuting one-way to work (52.6% of working residents), one of the shortest commutes across America.
Here most residents (68.2%) drive alone in a private automobile to get to work. In addition, quite a number also carpool with coworkers, friends, or neighbors to get to work (18.7%) and 5.5% of residents also hop out the door and walk to work for their daily commute. In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.