Petoskey East median real estate price is $534,966, which is more expensive than 88.9% of the neighborhoods in Michigan and 67.3% of the neighborhoods in the U.S.
The average rental price in Petoskey East is currently $1,180, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 87.4% of Michigan neighborhoods.
Petoskey East is a rural neighborhood (based on population density) located in Petoskey, Michigan.
Petoskey East real estate is primarily made up of medium sized (three or four bedroom) to large (four, five or more bedroom) single-family homes and mobile homes. Most of the residential real estate is owner occupied. Many of the residences in the Petoskey East neighborhood are established but not old, having been built between 1970 and 1999. A number of residences were also built between 2000 and the present.
Vacant apartments or homes are a major fact of life in Petoskey East. The current real estate vacancy rate here is 20.0%. This is higher than the rate of vacancies in 87.7% of all U.S. neighborhoods. A relatively large percentage of housing here is seasonally occupied (13.6%). This can occur in vacation areas, and occasionally it is also found in neighborhoods that are primarily filled with college students, as some apartments could be vacant when school is not in session. If you live here year round, you may find that a number of buildings in your neighborhood are actually empty.
When you see a neighborhood for the first time, the most important thing is often the way it looks, like its homes and its setting. Some places look the same, but they only reveal their true character after living in them for a while because they contain a unique mix of occupational or cultural groups. This neighborhood is very unique in some important ways, according to NeighborhoodScout's exclusive exploration and analysis.
If you're nearing retirement age, or in retirement, the Petoskey East is an excellent choice for you to consider for top-quality retirement living. This neighborhood is rated by NeighborhoodScout as among the top 6.3% of retiree-friendly neighborhoods in Michigan, combining peace and quiet, safety from crime, and offering diverse housing options from which retirees can choose. Maybe it's because of these amenities that a large proportion of the residents here are college educated seniors, mixed with other age groups. For these and other reasons, NeighborhoodScout identifies this neighborhood as a top-notch place to consider if you are thinking of or planning to retire in Michigan. In addition to being an excellent choice for active retirees, this neighborhood is also a very good choice for highly educated executives and families with school-aged children.
Did you know that the Petoskey East neighborhood has more Canadian and Dutch ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 2.2% of this neighborhood's residents have Canadian ancestry and 5.8% have Dutch 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 East neighborhood in Petoskey are upper-middle income, making it an above average income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 66.0% of the neighborhoods in America. With 10.2% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 50.4% of U.S. neighborhoods.
The old saying "you are what you eat" is true. But it is also true that you are what you do for a living. The types of occupations your neighbors have shape their character, and together as a group, their collective occupations shape the culture of a place.
In the Petoskey East neighborhood, 42.6% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is sales and service jobs, from major sales accounts, to working in fast food restaurants, with 27.6% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (17.9%), and 11.1% in clerical, assistant, and tech support occupations.
The languages spoken by people in this neighborhood are diverse. These are tabulated as the languages people preferentially speak when they are at home with their families. The most common language spoken in the Petoskey East neighborhood is English, spoken by 98.7% of households. Other important languages spoken here include Polish and Italian.
Culture is shared learned behavior. We learn it from our parents, their parents, our houses of worship, and much of our culture – our learned behavior – comes from our ancestors. That is why ancestry and ethnicity can be so interesting and important to understand: places with concentrations of people of one or more ancestries often express those shared learned behaviors and this gives each neighborhood its own culture. Even different neighborhoods in the same city can have drastically different cultures.
In the Petoskey East neighborhood in Petoskey, MI, residents most commonly identify their ethnicity or ancestry as German (32.8%). There are also a number of people of English ancestry (15.9%), and residents who report Polish roots (11.4%), and some of the residents are also of Irish ancestry (9.5%), along with some Scottish ancestry residents (6.3%), among others.
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 East neighborhood spend under 15 minutes commuting one-way to work (45.8% of working residents), one of the shortest commutes across America.
Here most residents (74.5%) drive alone in a private automobile to get to work. In addition, quite a number also carpool with coworkers, friends, or neighbors to get to work (11.7%) and 5.5% of residents also hop out the door and walk to work 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.