Petare is a city in Miranda, Venezuela, and is part of the urban area of Caracas. It is the located in the Sucre Municipality, one of the five divisions of Caracas. The city was founded in 1621 under the name of San Jose de Guanarito. It grew to become a part of the greater Caracas area as the latter expanded in area and population.The city is traditionally considered to be a suburb of Caracas, but has developed its own commercial core. Two universities are located in Petare: Universidad Santa María and Universidad Metropolitana. Poverty remains a major limitation to the city's development. The population of Petare is 369,000.The city has on the streets people called "Buhoneros" (Spanish, peddlers). They sell many things including food, clothing and electronics.