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Petoskey, MI Homes for Rent

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  • /5

    Starting at $1,350 Per Month

    • 1 - 2 Beds

    301 Lafayette Ave, Petoskey, MI 49770

    Discover the perfect balance of peaceful wooded surroundings and unbeatable downtown access at Little Traverse Village. Our spacious one- and two-bedroom apartments are nestled in a mature, secluded setting just steps from Petoskey’s shops, restaurants, and Little Traverse Bay.Enjoy walkable trails, scenic green spaces, and direct access to the water and docks — all without leaving the

    Little Traverse Village

    301 Lafayette Ave, Petoskey, MI 49770
  • /35

    Starting at $1,217 Per Month

    • Studio - 2 Beds

    1420 Standish Ave, Petoskey, MI 49770

    Embrace the tranquil beauty of northern Michigan at The Block at Petoskey — a brand-new apartment community where modern sophistication meets relaxed comfort. Thoughtfully designed studio, 1, and 2 bedroom apartments offer a seamless blend of intentional interiors and inspiring outdoor living. This upscale, pet-friendly community invites you to discover a refined lifestyle near the lake, where

    The Block at Petoskey

    1420 Standish Ave, Petoskey, MI 49770
  • /13

    Starting at $1,470 Per Month

    • 1 - 3 Beds

    1600 Bear Creek Ln, Petoskey, MI 49770

    Live the good life at Bear Creek Apartments, your Petoskey apartment community! Our sparkling pool and jacuzzi, fitness center, and direct-entry apartments are the perfect place to relax and unwind after a day exploring all that Northern Michigan has to offer. Just a short drive from Mackinac Island, Torch Lake, and Charlevoix, our community is the ideal basecamp for your next adventure. Spacious

    Bear Creek Meadows - Petoskey, MI

    1600 Bear Creek Ln, Petoskey, MI 49770
  • /20

    Starting at $1,101 Per Month

    • 1 - 3 Beds

    501 Valley Ridge Dr, Petoskey, MI 49770

    You really have to see this one! You will love the modern conveniences and contemporary style. Closets so big you have to see them to believe them. Stop by today to see your new home!

    Hillside Club Apartments

    501 Valley Ridge Dr, Petoskey, MI 49770
  • /25

    $3,000

    Total Monthly Price

    • 2 Beds
    • 1.5 Baths
    • 876 Sq Ft
    • Condo for Rent

    104 Division St, Petoskey, MI 49770

    Historic Charm Meets Modern Luxury Overlooking Little Traverse BayBe the very first to live in one of these two stunning, newly renovated apartments combining 1895 architectural character with high-end modern comforts.The Upgrades: Enjoy brand-new custom kitchens, added central AC, a new heating system, cozy gas fireplaces, a brand-new roof, and windows for worry-free

    104 Division St, Petoskey, MI 49770
  • /25

    $3,000

    Total Monthly Price

    • 2 Beds
    • 1.5 Baths
    • 876 Sq Ft
    • Condo for Rent

    104 Division St, Petoskey, MI 49770

    Historic Charm Meets Modern Luxury Overlooking Little Traverse BayBe the very first to live in one of these two stunning, newly renovated apartments combining 1895 architectural character with high-end modern comforts.The Upgrades: Enjoy brand-new custom kitchens, added central AC, a new heating system, cozy gas fireplaces, a brand-new roof, and windows for worry-free

    104 Division St, Petoskey, MI 49770
  • /15

    $1,075

    Total Monthly Price

    • 1 Bed
    • 1 Bath
    • 680 Sq Ft
    • House for Rent

    419 Monroe St, Petoskey, MI 49770

    One bedroom apartment located near the hospital and downtown Petoskey for rent.Unit is half of a duplex.Walking distance to downtown or the hospital. The Bear River walkway is just a short walk as well.Located near shopping, dining and the waterfront.North Central Michigan College is just a couple of miles away.12 month lease Required. Goes month to month after 1

    419 Monroe St, Petoskey, MI 49770
  • /10

    $1,700 Per Month

    • 2 Beds
    • 1 Bath
    • 840 Sq Ft
    • House for Rent

    709 Jackson St Unit 4, Petoskey, MI 49770

    Two bedroom one bathroom apartment in complex near McLaren Hospital. Tenant pays electric. Two dedicated parking spots, coin operate laundry on site, storage closet, mail on site, trash service and snow removal included. No Pets.

    Jazmin Harris Van Treese Management LLC

    709 Jackson St Unit 4, Petoskey, MI 49770
  • /13

    $2,500 Per Month

    • 3 Beds
    • 2 Baths
    • 1,200 Sq Ft
    • House for Rent

    306 Ione St, Petoskey, MI 49770

    Experience the perfect balance of nature and convenience in this cozy three-bedroom two-bath home, ideally situated just steps from Bear River access and minutes from the heart of downtown. This residence come furnished with flexible term lengths available. The living experience extends outdoors to a spacious yard offering plenty of room for relaxation. For your convenience, the home come

    Jazmin Harris Van Treese Management LLC

    306 Ione St, Petoskey, MI 49770
  • /7

    $1,700 Per Month

    • 1 Bed
    • 1 Bath
    • 700 Sq Ft
    • House for Rent

    421 Monroe St Unit 2, Petoskey, MI 49770

    One bedroom upper level apartment in a triplex close to downtown Petoskey and McLaren Hospital. All utilities, lawn service, snow removal included.

    Jazmin Harris Van Treese Management LLC

    421 Monroe St Unit 2, Petoskey, MI 49770
  • /7

    $1,750 Per Month

    • 2 Beds
    • 1 Bath
    • 900 Sq Ft
    • House for Rent

    522 Liberty St Unit 2, Petoskey, MI 49770

    Recently updated with new carpet and fresh paint this 2 bedroom, one bathroom apartment is located between downtown Petoskey & McLaren Hospital. All utilities except internet are included. Second story unit accessible by stairs only. Off street parking available behind building.

    Jazmin Harris Van Treese Management LLC

    522 Liberty St Unit 2, Petoskey, MI 49770

Why Live in Petoskey

Petoskey, MI, is a small Northern Michigan city known for its year-round outdoor recreation and scenic lake views. With over 1,000 acres of parkland and 8 miles of shoreline along Lake Michigan, residents and visitors enjoy activities such as sunset walks on sandy beaches and fishing in the bay. The historic downtown area, referred to as the Gaslight Shopping District, features a variety of local eateries and shops, including Chandler’s and Palette Bistro. Petoskey State Park offers sugar sand beaches and calm waters, while Bayfront Park provides access to the Little Traverse Wheelway, a 26-mile trail connecting Harbor Springs to Charlevoix. The city hosts annual events like the Petoskey Stone Festival and the Holiday Open House, adding to its vibrant community atmosphere.

Petoskey's architectural landscape includes Victorian homes, newly built cottages, and luxury coastal-inspired estates, particularly in the Bay Harbor area. Smaller bungalows and ranch-style homes are also common. The Public Schools of Petoskey are highly rated, with Petoskey Middle and Petoskey High offering strong academic programs, including early college and dual enrollment opportunities. The high school is noted for its successful band program, featuring the Petoskey Steel Drum Band.

Transportation options include U.S. Highway 31, a summer ferry service, and Cherry Capital Airport in Traverse City, which provides flights to Chicago. The city is home to McClaren Hospital, located downtown with rooms offering views of the bay. For those looking for things to do, Petoskey offers a mix of outdoor activities, dining, shopping, and cultural events, making it a charming and dynamic place to live.

Frequently Asked Questions

How much does it cost to rent a home in Petoskey, MI?
The median rent for a home in Petoskey, MI is $1,750 per month, though prices vary by neighborhood, size, and property type. As of July 2026, single-family homes tend to be the most affordable option while condos are currently more expensive.
How much do you need to make to afford rent in Petoskey, MI?
To comfortably afford the median rent in Petoskey, MI, a household needs to earn roughly $70,000 per year. This is based on the common guideline that households should spend no more than 30% of gross income on housing. Most landlords require monthly household income of at least 3x the monthly rent, and with a median rent of $1,750 per month in Petoskey, MI, renters typically need to show $5,250 per month in gross income to qualify. Actual affordability will vary depending on household debts, other living expenses, and overall budget.
Is it more affordable to rent or buy in Petoskey, MI?
In Petoskey, MI, the price-to-rent ratio is 22.7, which generally favors renting. This ratio divides the median home price by the annual median rent: below 15 typically favors buying, 15 to 20 is balanced, and above 20 typically favors renting. Your finances, how long you plan to stay, and costs like mortgage rates, taxes, and maintenance all factor into the decision.

Rental Home Trends

Number of Homes for Rent
11
Median Rent
$1,750
Median Single Family Home Rent
$1,700
Median Condo Rent
$3,000
How to Rent a Home