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retire

Finding the Best Places to Retire Since 2006!

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Retire in Petoskey, Michigan?

Overview:   On the northern tip of Michigan's Lower Peninsula, the charming little resort of Petoskey sits on the banks of Lake Michigan's sparkling Little Traverse Bay.   Bordered by rushing rivers and thick forests, this is a place that infuses even the most citified soul with a sense of adventure.

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Ernest Hemingway called Petoskey his home for many years, and with good reason.   The air is crisp and clear, and the streets are safe and inviting.  Outdoor recreation reigns supreme, from hiking through the Little Traverse Conservancy's nature preserves and snow shoeing on Boyne Mountain to boating on the bay.   Residents enjoy three  golf courses, and Little Traverse Wheelway is a 26-mile long bicycle pathway along the water.  The town marina has 144 slips. Yet, there is a bit of culture here, too.  The Crooked Tree Arts Center has music, art, dance and theatre classes year-round, and the Little Traverse Historical Society provides a unique look into the area's history.   Events, which happen monthly, include the C.S. Lewis Literature Festival, the Chocoholic Frolic, the Winter Ghost Walk and many more.  

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The Historic Gaslight District has 170 restaurants and cute shops with colorful awnings.   Petoskey is also the site of North Central Michigan College, a community college with nearly 3,000 full-time and part-time students.

Population:  5,800 (city proper)

Percentage of Population Age 45 or Better:  73% 

Cost of Living:  7% below the national average

Median Home Price: $170,000

Climate:     Summers are short but beautiful with temperatures in the 60s and 70s. Winter temperatures are in the single digits, teens and 20s. On average, the area receives 110 inches of snow each year (the national average is 25 inches).

At Least One Hospital Accepts Medicare Patients?   Yes

At Least One Hospital Accredited by Joint Commission?  Yes

Public Transit:   There is public bus, but a tourist-oriented trolley with a very limited schedule runs during the summer.

Crime Rate:   Below the national average

Public Library:   Yes

Political Leanings:   Conservative

Is Michigan Considered Tax Friendly for Retirement?    Somewhat

Cons:   Petoskey has lost 5% of its population within the last couple of decades.

Notes:   Racial diversity is minimal. Although remote, Petoskey is heavily dependent on year-round tourism.

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Recommended as a Retirement Spot?   Yes

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Michigan

The Wolverine State's borders touch four of the Great Lakes and the state is divided into two parts - Upper and Lower. The Mackinac Bridge, one of the world's longest suspension bridges, connects these two halves. Up North, the Sault St. Marie canals connect Lake Superior and Lake Huron.

Native Americans lived in the area when the first Europeans arrived in 1618. Sault St. Marie was the first immigrant settlement in 1668. After the Indian and French Wars, Britain claimed the land from the French. The region became part of the U.S. after the Revolutionary War, but constant conflict occured between the British, Americans and Native Americans until the end of the War of 1812.

The name Michigan came from the Ojibwa Indian words Mishi-gama (meaning "large lake").

The world's first air-conditioned automobile was built by Detroit's Packard Motor Car Company in 1939.

No point in Michigan is farther than six miles from a body of water.

Michigan is the only U.S. state to have two peninsulas.

The state produces 70% of the tart cherries grown in the United States.

Michigan has about 150 lighthouses, more than any other state.

Although Michigan's nickname is the "Wolverine State," no wolverines live in the state.

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Stats:

Population - 9,883,662 

Persons 65 years old and over - 16%

High school graduates, persons age 25+ - 89% 

Bachelor's degree or higher, persons age 25+ - 27% 

Persons of Hispanic or Latino origin - 5% 

White persons, not Hispanic - 79% 

Median household income - $50,083 

Median home value - $127,800 

Social Security taxed? No

Source: U.S. Census Bureau

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