In Petoskey, MI (49770), two bedroom rent is $990 -- significantly lower than the national average of $1,430. This makes Petoskey an ideal city for those looking to save on rent costs without sacrificing quality of life. The grocery cost index is 95 -- only slightly below the national average of 100, so those living in Petoskey can expect to pay similar prices to most other areas when shopping at local stores. Popular businesses in Petoskey include Harbor Wear Boutique, North Country Cycle Sport, Bier Distillery, and Cherry Republic. All of these businesses benefit from the low cost of living that Petoskey offers while still maintaining a high quality of life and convenience.
Petoskey (zip 49770) has an unemployment rate of 7.5%. The US average is 6.0%.
Petoskey (zip 49770) 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 (zip 49770)
- The Sales Tax Rate for Petoskey (zip 49770) is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Petoskey (zip 49770) 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 (zip 49770)
- The average income of a Petoskey (zip 49770) resident is $42,113 a year. The US average is $37,638 a year.
- The Median household income of a Petoskey (zip 49770) resident is $68,396 a year. The US average is $69,021 a year.