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Advertise here →Traverse City, MI · Houses & Market Data
Traverse City, Michigan houses and real estate market data.
Houses in Traverse City, MI (Grand Traverse County) — Census median home value $367,600, county listing prices up about 7.6% over the past year. Market data for Traverse City houses and the broader area.
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Traverse City, MI is in Grand Traverse County, Michigan — this guide covers houses in Traverse City and the whole local market: resale homes, condos, land, and new construction. The most recent Census estimate puts the population at 15,491, with a median household income of $71,731. Census data puts Traverse City houses at a median value of $367,600 (all owner-occupied homes); Grand Traverse County's current median listing price runs $553,750, up about 7.6% over the past year.
Info from government sites and builders may have provided source info.
Market overview
Traverse City housing market
Traverse City is in Grand Traverse County, Michigan. Manifest Census and county price-trend data provide baseline context for houses in Traverse City and the surrounding county market.
Median home value (Census ACS)
$367,600
Population (Census ACS)
15,491
Median household income
$71,731
County price trend (2025)
4.42% YoY
Population, income, and median home value from the project batch manifest (Census ACS 2023 5-year). County price trend from FHFA county HPI when present in the manifest row.
At a glance
Traverse City market snapshot
Population
15,491
County
Grand Traverse County
Median Household Income
$71,731
Median Home Value (city)
$367,600
Median Listing Price (Grand Traverse County)
$553,750
Median Gross Rent
$983/mo
Price Trend (YoY)
+7.6%
Market data compiled from public sources; deemed reliable but not guaranteed; verify independently. See About
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What makes Traverse City different
Home Value, By Source
The Census Bureau's American Community Survey (2023 5-year estimate) puts Traverse City's median home value — across all owner-occupied homes, not just recent sales — at $367,600. Separately, Grand Traverse County's current median listing price (via Realtor.com data, 2026-06-01) runs $553,750. These cover different geography (city vs. county) and different measures (assessed value vs. active listings), which is why we show both rather than picking one — full source list on our data sources page.
County Price Trend
Grand Traverse County's FHFA house price index shows a 4.42% annual change in 2025.
Population & Income
Traverse City has an estimated population of 15,491 and a median household income of $71,731, per the Census Bureau's American Community Survey (2023 5-year estimate).
Affordability Snapshot
Traverse City's Census-reported median home value works out to about 5.1x the area's median household income, and median gross rent runs roughly 16% of that same income on an annualized basis. Housing economists commonly flag a price-to-income ratio above 4x as historically elevated -- useful context, not a personal affordability verdict.
Nearby
Places around Traverse City
County guide: Grand Traverse County — cities, market context, and local resources for the county that includes Traverse City.
USAHouses.com also helps visitors looking in nearby Grand Traverse County and other Michigan communities. Some locations may not yet have dedicated pages, but many licensed professionals in this region assist surrounding communities.
Nearby communities include Chums Corner, Grawn, Interlochen, Kingsley, Fife Lake.
Chums Corner market data
Nearby city · ~6.0 mi
Grawn market data
Nearby city · ~7.7 mi
Interlochen market data
Nearby city · ~10.7 mi
Kingsley market data
Nearby city · ~12.1 mi
Fife Lake market data
Nearby city · ~17.6 mi
More Michigan cities with market guides: Grand Rapids, Warren, Sterling Heights, Ann Arbor, Lansing, Dearborn, Livonia, Troy.
Grand Rapids market data
Same-state city guide
Warren market data
Same-state city guide
Sterling Heights market data
Same-state city guide
Ann Arbor market data
Same-state city guide
Lansing market data
Same-state city guide
Dearborn market data
Same-state city guide
Livonia market data
Same-state city guide
Troy market data
Same-state city guide
Adjacent-county Census places with USAHouses.com pages: Greilickville (~4.6 mi), Hardwood Acres (~11.0 mi), Cedar (~11.3 mi), Lake Ann (~12.1 mi), Maple Grove (~12.7 mi), Maple City (~14.3 mi), Bendon (~14.5 mi), Suttons Bay (~15.7 mi), Rapid City (~16.4 mi), Lake Leelanau (~16.6 mi), South Boardman (~17.5 mi), Buckley (~17.9 mi), Leland (~19.9 mi), Kalkaska (~20.6 mi), Nessen City (~20.8 mi), Glen Arbor (~21.2 mi).
New construction: New homes near Traverse City (Detroit) · Michigan new construction.
Census & home facts
Traverse City data from published sources
Population (ACS 2023)
15,491
Median home value (ACS 2023)
$367,600
Median household income (ACS 2023)
$71,731
Median gross rent (ACS 2023)
$983
County FHFA annual change (2025)
4.42%
County median listing price (FRED/Realtor.com) (2026-06-01)
$553,750
Census place type
city
County
Grand Traverse County
Land area (Census Gazetteer 2024)
8.28 sq mi
Census GEOID
2680340
Census ACS, FHFA, and FRED figures are labeled with the year present in existing CSVs. Subject to change / confirm locally.
NewUSAHouses.com communities
Closest verified new-home communities near Traverse City
Availability and pricing are controlled by the builder and may change; confirm with the builder.
Manitou Communities Llc ↗
Champion Homes · Traverse City, Michigan · ~0.0 mi
Town And Country ↗
Champion Homes · Traverse City, Michigan · ~0.0 mi
Kings Court ↗
Champion Homes · Traverse City, Michigan · ~0.0 mi
Country Acres ↗
Champion Homes · Cadillac, Michigan · ~36.1 mi
Tamarac Village ↗
Champion Homes · Ludington, Michigan · ~69.0 mi
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Common questions
Traverse City FAQ
What are houses worth in Traverse City, MI?
The Census Bureau's American Community Survey puts the median value of houses in Traverse City at $367,600. Grand Traverse County's current median listing price runs $553,750, up about 7.6% over the past year.
How much do houses cost in Traverse City, MI?
For owner-occupied houses in Traverse City, Census ACS data shows a median value of $367,600. Active listing prices in Grand Traverse County may differ — see the market snapshot above.
What types of houses are in Traverse City, MI?
Traverse City houses include resale single-family homes, condos, mobile homes, and small multi-unit buildings, plus new construction in surrounding Grand Traverse County communities where builders are active. The housing-stock section below uses Census ACS structure counts when available for this city.
What is the population of Traverse City, MI?
The U.S. Census Bureau's American Community Survey (2023 5-year estimate) puts Traverse City's population at approximately 15,491.
What's the median rent in Traverse City, MI?
The Census ACS estimates median gross rent in Traverse City at approximately $983 per month.
What is the median household income in Traverse City, MI?
Census ACS data puts the median household income in Traverse City at approximately $71,731.
Is the Traverse City housing market growing?
Grand Traverse County's FHFA house price index shows a 4.42% annual change in 2025.
Is Traverse City, MI affordable relative to income?
Census ACS data puts Traverse City's median home value at about 5.1 times the median household income, with median gross rent equal to roughly 16% of that income annually. This is a general benchmark, not a personal pre-qualification -- your own income, debt, and down payment determine what you can actually afford.
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