Petoskey-Otsego median real estate price is $85,959, which is less expensive than 92.9% of Michigan neighborhoods and 96.7% of all U.S. neighborhoods.
The average rental price in Petoskey-Otsego is currently $1,403, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 71.6% 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) small apartment buildings and single-family homes. 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 50.4%. This is higher than the rate of vacancies in 98.9% 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.
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.
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. 19.8% 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 50.4% of the residential real estate vacant, the Petoskey-Otsego neighborhood claims the distinction of having a higher vacancy rate than 98.9% 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, if you love row houses and attached homes, you will probably really like the Petoskey-Otsego neighborhood. The ambiance, the charm, of row houses is something special. And in sheer abundance of row houses, this neighborhood truly stands out. The real estate here has a higher proportion of row houses and attached homes than nearly any neighborhood in America. In fact, 28.9% of the residential real estate here is classified as row houses and attached homes.
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 70.7% 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 98.7% of all neighborhoods in America. In this regard, this neighborhood truly stands out as special.
In the Petoskey-Otsego neighborhood, carpooling is still a popular way to get to and from work. NeighborhoodScout's analysis reveals that 27.5% of commuters carpool here, which is more than in 97.9% of all U.S. neighborhoods.
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 96.0% of the neighborhoods in America.
The Petoskey-Otsego neighborhood has a greater proportion of government workers living in it than 95.6% of the neighborhoods in America, according to NeighborhoodScout's exclusive analysis. This is a unique feature of this neighborhood, and one that shapes its character.
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, 2.1% of this neighborhood's residents have Canadian ancestry.
How wealthy a neighborhood is, from very wealthy, to middle income, to low income is very formative with regard to the personality and character of a neighborhood. Equally important is the rate of people, particularly children, who live below the federal poverty line. In some wealthy gated communities, the areas immediately surrounding can have high rates of childhood poverty, which indicates other social issues. NeighborhoodScout's analysis reveals both aspects of income and poverty for this 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 96.0% of U.S. neighborhoods. With 22.1% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 73.1% of U.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, 34.9% 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 34.2% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (19.2%), and 13.1% in government jobs, whether they are in local, state, or federal positions.
The most common language spoken in the Petoskey-Otsego neighborhood is English, spoken by 99.9% of households.
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-Otsego neighborhood in Detroit, MI, residents most commonly identify their ethnicity or ancestry as Canadian (2.1%). There are also a number of people of German ancestry (1.3%).
Even if your neighborhood is walkable, you may still have to drive to your place of work. Some neighborhoods are located where many can get to work in just a few minutes, while others are located such that most residents have a long and arduous commute. The greatest number of commuters in Petoskey-Otsego neighborhood spend between 15 and 30 minutes commuting one-way to work (40.6% of working residents), which is shorter than the time spent commuting to work for most Americans. However, there is also a significant group of residents (19.8%) who commute over an hour in each direction.
Here most residents (67.2%) 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 (27.5%) . In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.