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.
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Home Value$424,590
+1.6%
Rent$1,913/mo
AFFORDABILITYRenting $912/mo cheaper ($1,913 rent)6.50% 30yr, 20% down, county tax + MI ins. 28% per HUD.
Enter your income for Traverse City.
$84,918 on $424,590
Out of reach — 45.2% of income
Need $121,071/yr to afford.
PITI$2,825
P/I45.2%
Afford$263K
Gap-$162K
P&I $2,147Tax $545Ins $133
Home Buying Kit For Dummies (2025)Financing, negotiation, closing
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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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