Petoskey, Michigan Demographics & Population 2026
During the 2020–2024 ACS period, Petoskey, Michigan had a total population of 5,856, the 160th largest city in Michigan, with a median household income of $74,196, which is 2% higher than the state average. The poverty rate is 9.0%.
Data vintage: U.S. Census Bureau ACS 2020–2024 5-Year Estimates · refreshed July 2026 · Methodology & source notes
Key Takeaways
- 53.4% of adults hold a bachelor's degree or higher — top 10% in Michigan.
- Near full employment with an unemployment rate of just 1.6%.
Petoskey Quick Facts
How Petoskey Changed
Change from the 2019–2023 ACS period to 2020–2024. These are rolling five-year estimates, not year-over-year measurements.
| Metric | 2019–2023 | 2020–2024 | Change |
|---|---|---|---|
| Population | 5,851 | 5,856 | +0.1% |
| Median household income | $71,783 | $74,196 | +3.4% |
| Median home value | $319,300 | $364,100 | +14.0% |
How Petoskey Compares
Median Household Income
Median Home Value
Economy & Housing
Household Income Distribution
Detailed income brackets
Employment
Housing Overview
People & Demographics
Age Distribution
Race & Ethnicity
Diversity Index
A less diverse community where one racial or ethnic group represents a large majority.
State average: 45 | National average: 61
Education
Educational Attainment (Adults 25+)
Petoskey Rankings in Michigan
Explore Michigan Rankings
Other Cities in Emmet County
| City | Population | Median Income | Poverty | Home Value |
|---|---|---|---|---|
| Harbor Springs | 1,086 | $75,417 | 7.3% | $415,700 |
| Alanson | 834 | $65,139 | 15.3% | $134,100 |
| Mackinaw City | 778 | $42,031 | 16.4% | $224,300 |
| Pellston | 755 | $66,875 | 17.5% | $121,000 |
| Bay Shore | 697 | $75,217 | 7.8% | $153,600 |
| Carp Lake | 380 | $27,474 | 48.2% | $180,000 |
| Conway | 237 | $77,000 | 9.7% | $425,000 |
| Brutus | 198 | $109,375 | 0.0% | $164,100 |
| Bay View | 164 | $236,500 | 4.9% | $375,500 |
| Oden | 150 | N/A | 10.7% | N/A |
Cities Similar to Petoskey
These cities in the same state have comparable population and economic profiles.
| City | Population | Median Income | Home Value | Bachelor's+ | Poverty |
|---|---|---|---|---|---|
| Swartz Creek | 5,853 | $71,571 | $174,200 | 22.1% | 10.9% |
| Dundee | 5,744 | $78,837 | $257,300 | 34.4% | 5.2% |
| Richmond | 5,855 | $64,719 | $237,700 | 25.1% | 13.5% |
| St. Clair | 5,585 | $69,688 | $223,200 | 27.4% | 7.1% |
| Comstock Northwest | 5,391 | $73,475 | $261,100 | 38.1% | 6.9% |
Population Overview
Petoskey is a small city located in Michigan, within Emmet County. The total population is 5,856. It ranks as the 160th most populous out of 745 Census-designated places in Michigan.
Age Demographics
The median age in Petoskey is 41.0 years. This is 2% higher than the state median of 40.2 years. 10.6% of residents are 75 or older, suggesting a significant retirement-age population with implications for healthcare services and senior housing.
Economy, Income & Housing
The median household income in Petoskey is $74,196. This is 2% higher than the state median of $72,875. It is also 8% lower than the national median of $80,734. The poverty rate stands at 9.0%. This is 32% lower than the state poverty rate of 13.2%. The unemployment rate is 1.6%. This is 72% lower than the state rate of 5.7%. The median home value is $364,100. Housing costs are 57% higher than the state median of $231,600. The home-value-to-income ratio is 4.9x. 61.1% of occupied housing units are owner-occupied. This homeownership rate is 16% lower than the state average of 73.2%.
Race & Ethnicity
Petoskey has a predominantly White (non-Hispanic) population, comprising 87.0% of all residents. Hispanic or Latino residents account for 2.9%. The Black or African American population (0.8%) is well below the state average of 13.1%. The Hispanic or Latino population (2.9%) is well below the state average of 5.9%. The Asian population (1.5%) is well below the state average of 3.4%.
Education
53.4% of residents aged 25 and older hold a bachelor's degree or higher. This places Petoskey in the top 10% of all cities in the state for educational attainment. This is 65% higher than the state rate of 32.5%. Nationally, 35.7% of adults hold at least a bachelor's degree. The high school graduation rate (or equivalent) is 96.8%. Notably, 25.5% of adults hold a graduate or professional degree, indicating a highly educated workforce.
Data Sources & Methodology
All demographic data for Petoskey, Michigan is sourced from the U.S. Census Bureau's American Community Survey (ACS) 2020–2024 5-Year Estimates. The ACS collects data from approximately 3.5 million households annually and pools five years of responses so that even small communities can be measured, though the margin of error widens as the population falls. Comparisons are made against Michigan state averages and national averages calculated from the same dataset. Rankings reflect the city's position among all 745 Census-designated places in Michigan. Read more about how these figures are produced on our methodology page, or visit data.census.gov for official data.
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Frequently Asked Questions
What is the population of Petoskey, Michigan?
Petoskey, Michigan has a population of 5,856 according to the most recent U.S. Census ACS 5-Year Estimates.
What is the median household income in Petoskey, MI?
The median household income in Petoskey is $74,196, which is 8% lower than the national median of $80,734.
What is the poverty rate in Petoskey, MI?
The poverty rate in Petoskey is 9.0%. This means approximately 503 residents live below the federal poverty line.
What is the racial makeup of Petoskey, Michigan?
Petoskey's population is 87.0% White, 0.8% Black, 2.9% Hispanic/Latino, and 1.5% Asian.
What is the median home value in Petoskey, MI?
The median home value in Petoskey is $364,100. The home-value-to-income ratio is 4.9x.
How educated is Petoskey, Michigan?
53.4% of adults (25+) in Petoskey hold a bachelor's degree or higher, and 25.5% hold a graduate or professional degree.