Petoskey-Otsego median real estate price is $88,344, which is less expensive than 92.1% of Michigan neighborhoods and 96.1% of all U.S. neighborhoods.
The average rental price in Petoskey-Otsego is currently $1,470, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 61.9% of Michigan neighborhoods.
Petoskey-Otsego is a suburban neighborhood (based on population density) located in Detroit, Michigan.
Petoskey-Otsego real estate is primarily made up of medium sized (three or four bedroom) to small (studio to two bedroom) single-family homes and small apartment buildings. Most of the residential real estate is occupied by a mixture of owners and renters. Many of the residences in the Petoskey-Otsego neighborhood are relatively historic, built no later than 1939, and in some cases, quite a bit earlier. A number of residences were also built between 1940 and 1969.
Vacant apartments or homes are a major fact of life in Petoskey-Otsego. The current real estate vacancy rate here is 45.4%. This is higher than the rate of vacancies in 98.4% of all U.S. neighborhoods. In addition, most vacant housing here is vacant year round. This can sometimes be the case in neighborhoods dominated by new construction that is not yet occupied. But often neighborhoods with vacancy rates this high are places that can be plagued by a protracted vacancy problem. If you live here, you may find that a number of buildings in your neighborhood are actually empty.
The way a neighborhood looks and feels when you walk or drive around it, from its setting, its buildings, and its flavor, can make all the difference. This neighborhood has some really cool things about the way it looks and feels as revealed by NeighborhoodScout's exclusive research. This might include anything from the housing stock to the types of households living here to how people get around.
One of the unique characteristics of the Petoskey-Otsego neighborhood revealed by analysis is that the per capita income of residents here is lower than that found in 98.8% of the neighborhoods in America. Also of note is NeighborhoodScout's research finding that the Petoskey-Otsego neighborhood has some of the lowest rates of children living in poverty of any neighborhood in the United States. In a nation where approximately 1 in 4 children are living in poverty, the Petoskey-Otsego community truly stands out from the rest in this regard.
In addition, the types of households in a neighborhood can tell a lot about the character and lifestyle of those living here. NeighborhoodScout's exclusive analysis reveals that this neighborhood, above nearly every neighborhood in America, has a greater percentage of its residents living alone: 51.8%. This is a higher percent living alone than we found in 96.3% of all U.S. neighborhoods. Often residents who live alone are new arrivals to an area who are single, and often senior citizens who have lost a spouse.
Our research revealed that more commuters here take the bus to work (30.4% ride the bus) than 99.7% of all American neighborhoods. If you like the idea of leaving your car and home and hopping the bus to work, this might be a good neighborhood for you to consider.
There are more people living in the Petoskey-Otsego neighborhood employed as sales and service workers (49.0%) 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.
Whether walking, biking, riding, or driving, the length of one's commute is an important factor for one's quality of life. The Petoskey-Otsego neighborhood stands out for its commute length, according to NeighborhoodScout's analysis. Long commutes can be brutal. They take time, money, and energy, leaving less of you for yourself and your family. The residents of the Petoskey-Otsego neighborhood unfortunately have the distinction of having, on average, a longer commute than most any neighborhood in America. 19.9% of commuters here travel more than one hour just one-way to work. That is more than two hours per day. This percentage with two-hour + round-trip commutes is higher than NeighborhoodScout found in 99.5% of all neighborhoods in America.
Vacant homes and apartments are a significant characteristic of this neighborhood. In fact, with 45.4% of the residential real estate vacant, the Petoskey-Otsego neighborhood claims the distinction of having a higher vacancy rate than 98.4% of the neighborhoods in America. This can either be because much of the property is seasonally occupied, like in many vacation areas, or that much of the real estate is more permanently abandoned.
In addition, three-deckers, duplexes, old Victorian homes cut up into apartments. Independent stores on the corner selling pizza. These are some of the hallmarks of neighborhoods with lots of small 2, 3, and 4 unit apartment buildings. The Petoskey-Otsego neighborhood really stands out in this regard, however, as it is dominated by such small apartment buildings more than nearly any other neighborhood in America. This is a stunning visual and lifestyle example of this type of neighborhood. In fact, 39.5% of the real estate here are small 2, 3, or 4 unit apartment buildings, which is a higher proportion than found in 97.0% of America's neighborhoods.
Furthermore, if you find historic homes and neighborhoods attractive, you love the details, the history, and the charm, then you are sure to be interested in this neighborhood. With 77.1% of the residential real estate in the Petoskey-Otsego neighborhood built no later than 1939, and some built considerably earlier, this neighborhood has a greater concentration of historic residences than 99.5% of all neighborhoods in America. In this regard, this neighborhood truly stands out as special.
American households most often have a car, and regularly they have two or three. But households in the Petoskey-Otsego neighborhood buck this trend. 26.5% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 96.6% of U.S. neighborhoods.
Did you know that the Petoskey-Otsego neighborhood has more Canadian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 1.7% of this neighborhood's residents have Canadian ancestry.
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 Petoskey-Otsego neighborhood in Detroit are low income, making it among the lowest income neighborhoods in America. NeighborhoodScout's research shows that this neighborhood has an income lower than 98.8% of U.S. neighborhoods. In addition, 0.0% 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 100.0% 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-Otsego neighborhood, 51.0% of the working population is employed in sales and service jobs, from major sales accounts, to working in fast food restaurants. The second most important occupational group in this neighborhood is executive, management, and professional occupations, with 25.6% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (15.4%), and 8.0% in clerical, assistant, and tech support occupations.
Languages
The most common language spoken in the Petoskey-Otsego neighborhood is English, spoken by 99.9% of households.
Ethnicity / Ancestry
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 Petoskey-Otsego neighborhood in Detroit, MI, residents most commonly identify their ethnicity or ancestry as Canadian (1.7%).
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-Otsego neighborhood spend under 15 minutes commuting one-way to work (24.1% of working residents), one of the shortest commutes across America. However, there is also a significant group of residents (19.9%) who commute over an hour in each direction.
Here most residents (51.2%) drive alone in a private automobile to get to work. In addition, quite a number also ride the bus to get to work (30.4%) and 16.0% of residents also carpool with coworkers, friends, or neighbors 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.
