49770, Petoskey, MI

The 49770 zip code of Petoskey, MI has a median home value of $136,000. This is higher than the statewide median home value of $116,500. The 49770 zip code also has a lower than average percentage of homeowners with a mortgage at 47%. This indicates that more homeowners in this zip code are able to borrow against their home equity to pay for their housing costs.

One factor that may contribute to the high home values in the 49770 zip code are the low levels of unemployment and poverty in this area. Both of these factors indicate that there is plenty of demand for homes in this area. Additionally, the availability of jobs and affordable housing may also contribute to high home values in this area.