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The median home value in Petoskey, MI is $478,191 as of 2026-07-31, up 7.0% from a year earlier.
Median Home Value
$478,191
Year-over-Year
+7.0%
Population
5,839
Petoskey ranks #14 of 149 Michigan cities tracked here by median home value, and sits 82.3% above the state's city median of $262,319. It sits in Emmet County, where the county-wide median is $449,641.
Median household income in Petoskey is $74,196, so the typical home value is about 6.4× annual household income. This is a simple price-to-income benchmark rather than a monthly payment estimate; it does not account for mortgage rates, down payments, taxes or insurance.
Household income comes from the U.S. Census Bureau's ACS 5-Year Estimates, table B19013 (how the affordability measure works).
Petoskey police recorded a violent crime rate of 120 per 100,000 residents in 2024 — around the middle of the range for reporting cities. Property crime runs at 565 per 100,000.
Reported by the city's own police department to the FBI's Uniform Crime Reporting Program (what this covers).
People often call this an average home price, but the figure shown here is Zillow's typical home value (ZHVI), not a simple arithmetic average. In Petoskey, that value is $478,191. That's up 7.0% from a year earlier. It is about 82.3% above the typical Michigan city tracked here.
Homes in Petoskey are more expensive than Emmet County as a whole, where the median is $449,641 — a difference of about 6.3%.
Median household income here is $74,196, so the typical home value is about 6.4× annual household income. This ratio is a broad comparison measure, not a mortgage-payment estimate.
Petoskey police reported 120 violent crimes per 100,000 residents, covering a population of about 5,839. Crime rates are one input among many — they vary block to block within a city, and this figure is a citywide average.
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