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MI area data

Traverse city, MI

Traverse city, MI.

Population: 21,585 (Census ACS)

The median home value in Traverse city, MI is $492,687 — up 1.0% over the past year. Homes sell for a median $609,700 after a median 40 days on market. Typical rent runs $1,877/month. 7 schools serve the area (NCES). FEMA's National Risk Index rates the county's overall natural-hazard risk Relatively Low, with winterweather, coldwave, lightning the top-rated hazards. Cost of living is 8.0% below the US average (BEA, metro/state-level).

Backed by 25+ public sourcesFEMA · U.S. Census · NOAA · Dept. of Education · EPA · and more

$492,687

Median home value

+1.0%

1-year change

40

Median days on market

Relatively Low

Hazard risk (county)

Home values & appreciation

Median home value
$492,687
1-year appreciation
+1.0%
3-year appreciation
+6.4%
5-year appreciation
+27.9%
10-year appreciation
+99.1%
All-time peak (2026-07)
$492,687
House Price Index (state)
387.5 (+5.5% YoY)

Sources: home value index (ZIP-level) · FHFA House Price Index (state-level)

Market activity

Median sale price
$609,700
Median list price
$675,000
Median price per sqft
$312
1-year sale-price change
+32.5%
Median days on market
40 days
Homes sold (recent period)
42
For-sale inventory
180
Sale-to-list ratio
100.5%
Active listings
81
1-year forecast
+2.4%
Days to pending
35 days
New listings (monthly)
64

Source: recent area sales and market data (ZIP-level)

Rents

Typical rent
$1,877/mo
1-year rent change
+3.0%
Studio fair-market rent
$823/mo
1BR fair-market rent
$1,029/mo
2BR fair-market rent
$1,261/mo
3BR fair-market rent
$1,639/mo
4BR fair-market rent
$1,891/mo

Sources: market rent index (ZIP-level) · HUD Fair Market Rents (metro/county-level, 40th-percentile regulatory reference)

Affordability

Cost of living index (Below Average)
92.0 (100 = US avg)
Electricity rate (state-level)
20.0¢/kWh
Natural gas rate (state-level)
$10.90/MCF
30-year mortgage rate (national)
6.66%
15-year mortgage rate (national)
6.00%

Sources: BEA Regional Price Parities (metro/state-level) · EIA energy rates (state-level) · Freddie Mac PMMS (national)

Schools

Total schools
7
Elementary schools
3
Middle schools
1
High schools
2
Charter schools
2
School districts serving the area
The Greenspire School, Traverse City Area Public Schools, Northwest Education Services
Schools include
The Greenspire School, The Greenspire High School, TCAPS Montessori School, Central Grade School, West Middle School

Source: NCES school directory, 2022-23 (school-address-based)

Natural hazards & flood risk

Overall hazard risk (county)
Relatively Low
Top hazards (county)
winterWeather, coldWave, lightning, strongWind
Notable hazard ratings (county)
coldWave: Relatively High · hail: Relatively Low · inlandFlooding: Relatively Low · landslide: Relatively Low · lightning: Relatively Moderate · strongWind: Relatively Moderate
FEMA flood zone
X
Flood risk level
Minimal
Wildfire risk to homes (county)
Higher than 22% of US counties
Buildings in wildfire direct-exposure zone
63.2%
Radon potential (county)
Low radon potential — EPA Zone 3 of 3
EPA Superfund (NPL) sites within 5 mi
1
Nearest Superfund site
Grand Traverse Overall Supply Co. (3.9 mi)
EPA recommends radon testing for every home regardless of zone.

Sources: FEMA National Risk Index (county-level) · FEMA flood data (ZIP-level) · USDA Forest Service Wildfire Risk to Communities (county-level) · EPA radon zones + Superfund NPL

Climate (30-year normals)

Average annual temperature
45.0°F
Average high
55.0°F
Average low
36.0°F
Annual precipitation
37.7 in
Annual snowfall
96.8 in
USDA plant hardiness zone
6a (extreme annual low -10 to -5°F)

Sources: NOAA Climate Normals (30-year, nearest-station) · USDA Plant Hardiness Zone Map (2023)

Walkability & transit

Walkability index
11.2 / 20
Transit service frequency
343
Jobs reachable by car (30 min)
15,518
Jobs reachable by transit (45 min)
9,494

Source: EPA Smart Location Database (metropolitan block groups)

Amenities

National parks within ~60 mi
1
Nearest national park
Sleeping Bear Dunes National Lakeshore (20 mi)
Airports within 30 mi
16
Nearest airport
Cherry Capital Airport (TVC) (6 mi)
Nearest major airport
Cherry Capital Airport (TVC) (6 mi)
Hospitals nearby (~15 mi)
1
Hospitals include
MUNSON MEDICAL CENTER
Avg hospital rating (CMS)
4.0 / 5
Best hospital rating nearby (CMS)
4.0 / 5
Solar radiation rating
Fair (3.7 kWh/m²/day)

Sources: National Park Service · FAA airport data · CMS hospital data · DOE/NREL (proximity-based)

Migration

Net migration (county)
+175 tax filers

Source: IRS county-to-county migration data (county-level, ~12-month lag)

Housing stock

Median year housing built
1,982
Housing built before 1970
32.3%
Housing built 2000 or later
28.0%
Median annual property tax
$3,622
Mean commute to work
15 min
Households with broadband internet
80.3%

Source: Census ACS 5-year estimates (ZIP-level)

Employment & development

Total county employment
45,933
Average weekly wage
$1,102
Top industries (by employment)
Health Care, Accommodation & Food, Construction
Annual residential building permits (county)
353

Sources: BLS QCEW (county-level) · Census Building Permits (county-level)

How it compares

Traverse cityState medianUS median
Median home value$492,687$246,351$289,727
Median sale price$609,700$265,000$325,000
Median days on market40 days36 days51 days
Typical rent$1,877/mo$1,494/mo$1,808/mo
Median annual property tax$3,622$2,175$2,006

State and US medians are computed across all US ZIP codes with sufficient public-data coverage, from the same sources as the figures above.

Area data compiled from public government, academic, and industry research feeds. Data sources →

Common questions

What is the median home value in Traverse city, MI?
$492,687.
What is the median sale price in Traverse city, MI?
$609,700.
How long do homes take to sell in Traverse city, MI?
Median days on market: 40 days.
What is typical rent in Traverse city, MI?
Typical rent: $1,877/month.
What is the natural-hazard risk in Traverse city, MI?
Overall risk: Relatively Low (FEMA NRI, county-level). Top hazards: winterWeather, coldWave, lightning, strongWind.
Is Traverse city, MI in a flood zone?
Minimal (FEMA NFIP). FEMA flood zone X.
What is the wildfire risk in Traverse city, MI?
Risk to homes is higher than 22% of US counties (USDA Forest Service Wildfire Risk to Communities, county-level).
What is the radon potential in Traverse city, MI?
Low radon potential — EPA Zone 3 of 3, county-level. EPA recommends testing every home regardless of zone.
Are there Superfund sites near Traverse city, MI?
1 current or proposed National Priorities List site within 5 miles (EPA). Nearest site: Grand Traverse Overall Supply Co., 3.9 mi.
How many schools serve Traverse city, MI?
7 schools (3 elementary, 1 middle, 2 high) (NCES, 2022-23).
Is Traverse city, MI walkable?
Walkability index: 11.2/20 (EPA Smart Location Database).
What is the cost of living in Traverse city, MI?
Regional Price Parity: 92.0 (100 = US average) (Below Average) (BEA RPP, metro/state-level).

ZIP code for Traverse city

Selling a home in Traverse city, MI?

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Data last updated

Most recent source refresh: Sep 2026. See all data sources →

Data compiled by REAIGENT7 — AI listing platform for real estate agents