Rentometer, Inc. | Data as of 10/23/2025
Petoskey’s rental market reflects the city’s blend of small‑town charm and vibrant waterfront lifestyle, making it a top choice for professionals, retirees, and seasonal residents alike. The metro area offers a variety of housing options, from historic single‑family homes nestled near the downtown core to modern apartment communities that line the shores of Little Traverse Bay. Popular neighborhoods such as the historic Gaslight District, Bay View, and the waterfront district provide easy access to boutique shops, cozy cafés, and scenic walking trails, while the quieter residential streets around Petoskey State Park attract those seeking a more relaxed atmosphere.
Apartment rentals dominate the market, with one‑bedroom units typically priced in the $1,100 range, two‑bedroom apartments falling between $1,300 and $1,600, and three‑bedroom homes often exceeding $1,500. These ranges reflect a balance of affordability and quality, supported by a strong inventory of well‑maintained properties. Tenants appreciate the convenience of nearby amenities such as the historic Armory, the Carnegie Library, and the bustling Harbor area, as well as easy access to outdoor recreation at Petoskey State Park, the Harbor Springs Golf Course, and the extensive trail system along the Lake Michigan shoreline.
Beyond the immediate city limits, the surrounding Northern Michigan region offers additional rental opportunities in charming towns like Leland and Bay View, each boasting unique cultural attractions and seasonal events. Whether you’re drawn by the vibrant downtown scene, the serenity of the lakefront, or the proximity to outdoor adventures, Petoskey’s rental market provides a welcoming and diverse array of housing choices that cater to a wide range of lifestyles.
| Property Type | Bedrooms | Average | Median | Min - Max | 25th - 75th |
|---|---|---|---|---|---|
| Apartment | 1 Bedroom | $1,170 | $1,095 | $874 - $1,395 | $1,095 - $1,395 |
| Apartment | 2 Bedroom | $1,364 | $1,407 | $995 - $1,600 | $1,200 - $1,575 |
| Apartment | 3 Bedroom | $1,494 | $1,725 | $1,033 - $1,725 | $1,033 - $1,725 |
In the current period, the average rent in Petoskey, MI was
$1,171 for 1 Bedroom,
$1,364 for 2 Bedroom, and
$1,494 for 3 Bedroom.
Note: This analysis includes only bedroom types with sufficient data.
Data provided by Rentometer, Inc.