Petoskey, MI is an idyllic small town located on the northwestern shore of Little Traverse Bay of Lake Michigan. This city is a charming destination where visitors can enjoy waterfront attractions, outdoor recreation, shopping and dining experiences. Popular businesses include the Petoskey Regional Chamber of Commerce, Petoskey Farmers Market and Petoskey Brewing Company. Visitors can also explore local attractions such as the Charlevoix Historical Society Museum, Bear River Park and the Little Traverse Wheelway Bike Path. With affordable 2 Bedroom Rents at $990 in comparison to the US average of $1,430 and a Grocery Cost Index of 95 versus 100 in the US, Petoskey is an excellent place to experience a luxurious yet economical vacation.
Petoskey has an unemployment rate of 7.5%. The US average is 6.0%.
Petoskey has seen the job market decrease by -8.2% over the last year. Future job growth over the next ten years is predicted to be 24.2%, which is lower than the US average of 33.5%.
Tax Rates for Petoskey
- The Sales Tax Rate for Petoskey is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Petoskey is 4.3%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Petoskey
- The average income of a Petoskey resident is $46,834 a year. The US average is $37,638 a year.
- The Median household income of a Petoskey resident is $60,054 a year. The US average is $69,021 a year.