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Traverse City, MI
Full City Profile · Michigan · Grand Traverse County County
3.5
/5.0
B+
Good
15,491
Population
1,871/sq mi density
$71,731
Median Income
$53,630 per capita
$367,600
Home Value
$427,667 Zillow
$983
Median Rent
29.5% income on rent
47°F
Avg Temperature
276 sunny days/yr
418
Violent Crime/100K
1,465 property/100K
B+
Overall
3.5 / 5.0
Good overall score based on economy, affordability, safety and education
A
Economy
4.3 / 5.0
$71,731 median income, 2.9% unemployment
B+
Affordability
3.8 / 5.0
$367,600 home value, $983/mo rent
F
Safety
1.0 / 5.0
418 violent crimes/100K (10% above avg)
A+
Education
4.8 / 5.0
47.0% bachelor's degree or higher
Housing Overview
Median Home Value
$367,600
30% above
US avg: $281,900
Median Rent
$983/mo
15% below
US avg: $1,163/mo
Homeownership Rate
60.9%
7% below US avg (65.4%)
Total Housing Units
8,302
Median year built: 1959
Home Value by Source
Census Median
$367,600
Zillow (ZHVI)
$427,667
Median Sale Price
$500,000
Median List Price
$599,900
Census ACS, Zillow ZHVI, Redfin median sale price
Ownership vs. Renting
60.9%
Owner-Occupied
39.1%
Renter-Occupied
US avg: 65.4% owner-occupied
Fair Market Rents (HUD FY2026)
Studio
$807/mo
1 Bedroom
$891/mo
2 Bedroom
$1,113/mo
3 Bedroom
$1,419/mo
4 Bedroom
$1,588/mo
Census median rent:
$983/mo
· Zillow rent:
$1,978/mo
Market Indicators (Redfin)
Median Days on Market
146 days
Sale-to-List Ratio
1.0%
Buyers market
Homes Sold
22
Price Drops
18.8%
of listings with price reduction
Price Per Sq Ft
$425
Active Inventory
133
homes for sale
Affordability & Housing Stock
Rent Burden
29.5%
of renters spending 30%+ of income on housing
5% below US avg (31.0%)
Median Year Built
1959
Average age of housing stock: 67 years
Homeownership Rate
60.9%
Complete Housing Data
Home Values
| Census Median Value | $367,600 |
| Zillow Home Value (ZHVI) | $427,667 |
| Median Sale Price | $500,000 |
| Median List Price | $599,900 |
| Price Per Sq Ft | $425 |
Rent
| Census Median Rent | $983 |
| Zillow Rent (ZORI) | $1,978 |
| FMR Studio | $807 |
| FMR 1-Bedroom | $891 |
| FMR 2-Bedroom | $1,113 |
| FMR 3-Bedroom | $1,419 |
| FMR 4-Bedroom | $1,588 |
Market
| Days on Market | 146 |
| Sale-to-List Ratio | 1.0% |
| Price Drops | 18.8% |
| Homes Sold | 22 |
| Active Inventory | 133 |
| Price Per Sq Ft | $425 |
Ownership & Stock
| Owner-Occupied | 60.9% |
| Renter-Occupied | 39.1% |
| Homeownership Rate | 60.9% |
| Total Housing Units | 8,302 |
| Median Year Built | 1959 |
| Rent Burden | 29.5% |