The median home in Traverse City, Michigan is valued at $424,590, up 1.6% year over year. Typical monthly rent is $1,913, producing a price-to-rent ratio of 18.5x — near the national average of 18x. Traverse City is part of the Traverse City, MI metropolitan area, which CrashWatch tracks daily with real-time stress scores and crash risk analysis.

Home Value$424,590

+1.6%

Rent$1,913/mo

Prices rising — worse for buyers.

Affordability

Enter your income for Traverse City.

Income (annual)

Down Payment

$84,918 on $424,590

Example: $75,000 household income. Change it above to see your own.

Out of reach45.2% of income

Need $121,071/yr to afford.

PITI$2,825

P/I45.2%

Afford$263K

Gap-$162K

P&I $2,147Tax $545Ins $133

Renting $912/mo cheaper ($1,913 rent)6.50% 30yr, 20% down, county tax + MI ins. 28% per HUD.

Home Buying Kit For Dummies (2025)Financing, negotiation, closing

Other cities in Michigan

Compare Traverse City with other housing markets across Michigan.

Lake Angelus$1.66M Leland$1.1M Orchard Lake$914K Franklin$845K Lake Leelanau$832K Kewadin$811K Lakeside$800K Northport$758K

Full Traverse City, MI analysis

Stress scores, crash risk, early warning signals, and 12-month price forecasts for the Traverse City, MI metro.

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