Cost of Living in Petoskey, MI
Cost indexes, living wages, and fair market rents — 2024 Data
Cost of Living Overview
Overall Index
110.2
100 = national avg
+10.2 vs national average
Living Wage (1 Adult)
$48,473
per year
Living Wage (Family of 4)
$114,573
per year
Cost Index by Category
Housing126.7
Food104.9
Transportation82.8
Healthcare103.9
Utilities108.3
100 = national average. Higher = more expensive.
Fair Market Rent
Source: HUD1 Bedroom
$941
per month
2 Bedroom
$1,235
per month
The overall cost of living index in Petoskey is 110.2, which is 10.2% above the national average. Housing costs are above the national average at an index of 126.7. A single adult needs to earn approximately $48,473 per year to cover basic expenses.