Housing data for Traverse City, MI
Traverse City, MI has an estimated 15,593 residents and 8,479 homes (US Census Bureau, 2020–2024 American Community Survey).
It is a city in Grand Traverse County.
36.3% of households rent.
The median gross rent is $995 a month.
Figures last updated on .
- Residents
- 15,593 (±99)
- Housing units
- 8,479 (±404)
- Households that rent
- 36.3%
- Median gross rent
- $995
- Residents since 2015–2019
- +0.1%
What stands out in Traverse City
Homes in buildings of 5 or more units: 24.8% (±3.9 points) in Traverse City, higher than in Grand Traverse County (11.9%).
Median real estate taxes: $4,671 (±$332) in Traverse City, higher than in Grand Traverse County ($3,010).
Households that rent: 36.3% (±5.0 points) in Traverse City, higher than in Grand Traverse County (22.8%).
Homes built before 1980: 67.3% (±5.8 points) in Traverse City, higher than in Grand Traverse County (41.5%).
- Types of homes in Traverse City
- Property taxes in Traverse City
- Renters and owners in Traverse City
- Age of homes in Traverse City
Housing in Traverse City at a glance
- Median rent: $995 median gross rent a month
- Rent by bedrooms: $1,078 median gross rent, 2 bedrooms
- Rent burden: 49.7% of renters pay 30% or more of income
- Renters and owners: 36.3% of households rent
- Income and affordability: $74,087 median household income
- Home values: $415,400 median home value
- Homeowner costs: $1,817 median monthly cost with a mortgage
- Property taxes: $4,671 median real estate taxes a year
- Types of homes: 24.8% of homes are in buildings of 5 or more units
- Bedrooms: 50.9% of homes have 3 or more bedrooms
- Age of homes: 67.3% of homes were built before 1980
- Vacancy rate: 10.4% rental vacancy rate
- Heating fuel: 77.0% heat with utility gas
- Commute and cars: 17.2 minutes average trip to work
- Crime reported to police: 582 violent crimes per 100,000 residents
- Growth: +0.1% residents since 2015–2019
- How long people stay: 26.8% moved in since 2020
- Crowding and facilities: 0.9% of homes have more than 1 person per room
Traverse City against Grand Traverse County, its state and the nation
| Traverse City | Grand Traverse County | Michigan | United States | |
|---|---|---|---|---|
| Residents | 15,593 (±99) | 96,166 (exact) | 10,077,761 (exact) | 334,922,499 |
| Housing units | 8,479 (±404) | 47,003 (±84) | 4,622,236 (±795) | 143,775,355 |
| Households that rent | 36.3% (±5.0 points) | 22.8% (±1.6 points) | 26.8% (±0.2 points) | 34.8% |
| Median gross rent | $995 (±$97) | $1,288 (±$65) | $1,129 (±$4) | $1,413 |
| Median household income | $74,087 (±$7,199) | $81,647 (±$3,008) | $72,875 (±$293) | $80,734 |
| Median home value | $415,400 (±$20,684) | $339,400 (±$8,651) | $231,600 (±$642) | $332,700 |
| Median real estate taxes (a year) | $4,671 (±$332) | $3,010 (±$112) | $2,904 (±$9) | $3,119 |
| Built before 1980 | 67.3% (±5.8 points) | 41.5% (±2.2 points) | 62.1% (±0.2 points) | 49.7% |
| Average commute | 17.2 minutes (±1.7) | 20.6 minutes (±0.7) | 24.2 minutes (±0.1) | 26.4 minutes |
| Households with broadband | 91.2% (±2.3 points) | 91.9% (±1.2 points) | 90.5% (±0.1 points) | 91.0% |
| Median age of residents | 42.7 years (±2.0) | 43.5 years (±0.4) | 40.2 years (±0.1) | 38.9 years |
Traverse City covers 8.3 square miles of land, about 1,884 residents per square mile (Census Bureau Gazetteer).
How Traverse City has changed since 2015–2019
| 2015–2019 | 2020–2024 | Amount of change | Verdict | |
|---|---|---|---|---|
| Residents | 15,570 (±197) | 15,593 (±99) | +0.1% | Not a measurable change |
| Housing units | 7,423 (±347) | 8,479 (±404) | +14.2% | Measurable increase |
| Median gross rent | $905 (±$47) | $995 (±$97) | +9.9% | Down after inflation |
| Median home value | $266,100 (±$15,372) | $415,400 (±$20,684) | +56.1% | Up after inflation |
| Median household income | $57,076 (±$4,914) | $74,087 (±$7,199) | +29.8% | No measurable change after inflation |
| Median owner cost with a mortgage | $1,528 (±$72) | $1,817 (±$95) | +18.9% | No measurable change after inflation |
| Median real estate taxes | $3,783 (±$203) | $4,671 (±$332) | +23.5% | No measurable change after inflation |
| Households that rent | 38.0% (±3.4 points) | 36.3% (±5.0 points) | −1.7 percentage points | Not a measurable change |
| Rental vacancy rate | 4.7% (±3.7 points) | 10.4% (±5.2 points) | +5.7 percentage points | Not a measurable change |
The Census Bureau publishes 2015–2019 dollars in 2019 dollars and 2020–2024 dollars in 2024 dollars.
Prices (the CPI-U, US Bureau of Labor Statistics) rose 22.7% between 2019 and 2024, so a dollar figure’s verdict compares the two after raising the earlier one by that much, using the Census Bureau’s test for a difference.
The two periods do not overlap, as the Census Bureau recommends for 5-year estimates.
Crime reported to police in Traverse City
In 2025, the Traverse City Police Department reported 582 violent and 746 property crimes per 100,000 residents to the FBI.
Across Grand Traverse County, the departments that report recorded 273 violent and 389 property crimes per 100,000 residents that year.
ZIP codes in Traverse City
| ZIP code | Share of the ZIP’s land in this place | Residents | Median gross rent | Median home value | Median household income |
|---|---|---|---|---|---|
| 49686 | 11% | 25,492 | $1,227 | $344,700 | $71,609 |
A ZIP code is a mail route rather than a boundary, so the Census Bureau publishes figures for ZIP Code Tabulation Areas built from census blocks; the share column says how much of each one’s land lies in this place.
Places near Traverse City
| Place | Distance | Median gross rent | Median home value | Households that rent |
|---|---|---|---|---|
| Garfield Charter Township | 2.5 mi | $1,405 | $316,200 | 43.8% |
| Greilickville | 4.6 mi | $1,859 | $418,500 | 20.7% |
| Elmwood Charter Township | 5.7 mi | $1,660 | $436,400 | 10.3% |
| Chums Corner | 6.0 mi | — | $372,700 | 9.0% |
| East Bay Township | 6.0 mi | $1,517 | $278,800 | 10.4% |
| Acme Township | 7.4 mi | $1,490 | $338,300 | 12.4% |
| Long Lake Township | 7.7 mi | $1,507 | $410,600 | 11.1% |
| Blair Township | 8.8 mi | $1,332 | $275,200 | 11.7% |
Places in Michigan most like Traverse City
| Place | Median gross rent | Median home value | Median household income | Households that rent |
|---|---|---|---|---|
| Petoskey | $1,006 | $364,100 | $74,196 | 38.9% |
| Frankfort | $876 | $350,000 | $54,327 | 35.9% |
| South Haven | $834 | $454,100 | $68,239 | 29.3% |
| Elk Rapids | $1,056 | $393,400 | $70,938 | 24.8% |
| Grandville | $1,143 | $271,300 | $78,442 | 32.9% |
| St. Joseph | $1,081 | $299,000 | $84,057 | 42.0% |
Matched on rent, home value, income, the share who rent, the age of the homes, the share in apartment buildings and the commute, each measured against the spread across Michigan.
HUD Fair Market Rent for Traverse City, fiscal year 2027
| Studio | 1 bedroom | 2 bedrooms | 3 bedrooms | 4 bedrooms |
|---|---|---|---|---|
| $1,181 | $1,188 | $1,436 | $1,883 | $1,928 |
HUD income limits for Traverse City, fiscal year 2026
| Household size | Extremely low (30%) | Very low (50%) | Low (80%) |
|---|---|---|---|
| 1 person | $23,950 | $39,900 | $63,800 |
| 2 people | $27,350 | $45,600 | $72,900 |
| 3 people | $30,750 | $51,300 | $82,000 |
| 4 people | $34,150 | $56,950 | $91,100 |
| 5 people | $38,680 | $61,550 | $98,400 |
| 6 people | $44,360 | $66,100 | $105,700 |
| 7 people | $50,040 | $70,650 | $113,000 |
| 8 people | $55,720 | $75,200 | $120,300 |
These are the limits HUD sets for its housing programs in the Grand Traverse County, MI HUD Metro FMR Area, where HUD’s median family income for fiscal year 2026 is $113,900.
A program can use its own limits; tax-credit and local programs often do.
Survey years: 2020–2024 (American Community Survey 5-year estimates), compared with 2015–2019.
Margins of error are at the 90% confidence level.
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Questions about Traverse City
What is the average rent in Traverse City, MI?
The Census Bureau publishes the median rather than the average: the median gross rent in Traverse City is $995 (±$97) a month (2020–2024 American Community Survey), so half of renting households pay less and half pay more.
How much is a one-bedroom apartment in Traverse City?
The median gross rent for a one-bedroom home in Traverse City, MI is $731 (±$81) a month (2020–2024 American Community Survey).
Are renters in Traverse City rent-burdened?
49.7% of renting households in Traverse City pay 30% or more of their income in gross rent, the share housing researchers usually call rent-burdened (2020–2024 American Community Survey).
How many renters are there in Traverse City?
Traverse City has an estimated 2,613 (±411) renting households, 36.3% of its occupied homes (2020–2024 American Community Survey).
What is the median household income in Traverse City?
The median household income in Traverse City is $74,087 (±$7,199) a year (2020–2024 American Community Survey).
What is the average home value in Traverse City, MI?
The Census Bureau publishes the median: $415,400 (±$20,684) for owner-occupied homes in Traverse City (2020–2024 American Community Survey).
Is Traverse City growing?
In Traverse City, the number of residents went from 15,570 in 2015–2019 to 15,593 in 2020–2024 (+0.1%), not a measurable change.
What ZIP codes are in Traverse City?
The ZIP code that covers Traverse City is 49686.
What is the median rent in ZIP code 49686?
The median gross rent in ZIP Code Tabulation Area 49686 is $1,227 (±$112) a month (2020–2024 American Community Survey).
Sources
- Demographic and Housing Estimates (DP05), 2020–2024 ACS 5-year estimates — Traverse City city, Michigan
- Selected Housing Characteristics (DP04), 2020–2024 ACS 5-year estimates — Traverse City city, Michigan
- Selected Economic Characteristics (DP03), 2020–2024 ACS 5-year estimates — Traverse City city, Michigan
- Median Real Estate Taxes Paid by Mortgage Status (B25103), 2020–2024 ACS 5-year estimates — Traverse City city, Michigan
- Selected Social Characteristics (DP02), 2020–2024 ACS 5-year estimates — Traverse City city, Michigan
- Total Population (B01003), 2015–2019 ACS 5-year estimates — Traverse City city, Michigan
- Median Gross Rent (B25064), 2015–2019 ACS 5-year estimates — Traverse City city, Michigan
- HUD Fair Market Rents, fiscal year 2027: Grand Traverse County, MI HUD Metro FMR Area
- HUD Income Limits, fiscal year 2026: Grand Traverse County, MI HUD Metro FMR Area
- US Census Bureau, American Community Survey 2020–2024 5-year estimates for ZIP Code Tabulation Areas
- FBI Uniform Crime Reporting Program, Crime Data Explorer: Traverse City Police Department (ORI MI2878100)
- FBI: Uniform Crime Reporting statistics and their proper use
- Consumer Price Index for All Urban Consumers (CPI-U), US city average, all items, US Bureau of Labor Statistics: annual averages 2019 and 2024
- US Census Bureau, 2024 Gazetteer Files
To check these figures in the Census Bureau’s own API, request the variables below from the 2024 ACS 5-year data profile (acs/acs5/profile) for Traverse City city, Michigan (place:80340, in state:26).
Each estimate (E or PE) has a margin of error beside it (M or PM).
The 2015–2019 figures are B01003_001E, B01003_001M, B25064_001E, B25064_001M from the 2019 release.
The API needs a free key.
DP05_0001E, DP05_0001M, DP04_0001E, DP04_0001M, DP04_0047PE, DP04_0047PM, DP04_0134E, DP04_0134M, DP03_0062E, DP03_0062M, DP04_0089E, DP04_0089M
This product uses the Census Bureau Data API but is not endorsed or certified by the Census Bureau.
Figures are published by the US Census Bureau, HUD, the Bureau of Labor Statistics and the FBI; Seayora reproduces them and does not adjust them, except where a sentence says it compares dollar figures after inflation. They describe the whole place, not any one building or street, and are not an appraisal, a rent determination, a tax bill, a safety rating or legal advice.
Figures last updated on .