Cost of Living in Traverse City, MI
Population 15,491 · Michigan · Data vintage 2023
(100 = US avg)
Under 25,000 residents gives Traverse City a small-town character that shows up in every data point below — from the commute patterns to the rental inventory. A typical home runs $368,000.
Located 120 miles east of Green Bay, Traverse City is far enough out that local conditions diverge meaningfully from the big-metro baseline. Median home values run roughly 92% higher than Green Bay's $192,000.
Cost Overview
Scale: 100 = US national average. Green < 90, Red > 110.
About the Cost of Living in Traverse City
The median home value in Traverse City is $367,600 — 21% above the national median of $305,000. Median rent runs $983/month, 25% lower than the national median of $1,314/month. The median household income of $71,731/year is 4% lower than the US median of $74,580. The local unemployment rate is 4.5%, below the national average of 4.8%. Michigan's top state income tax rate is 4.3% and the combined sales tax is 6.0%. The climate averages highs of 56.0°F and lows of 37.8°F. Overall, Traverse City has a cost of living index of 102 versus the US average of 100, meaning it is 2% more expensive.
🏠 Housing
HUD Fair Market Rents by Bedroom
💰 Estimated Monthly Budget
Estimates based on median data and national averages. Actual costs vary.
🛒 Food & Groceries
National BLS average prices (2023). Local prices may vary.
🚗 Transportation
Commute Mode
⚡ Utilities
📋 Taxes
💼 Income & Employment
🎓 Education
👥 Demographics
🌤 Climate
NOAA 1991–2020 Climate Normals
| Month | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| High °F | 29 | 31 | 41 | 54 | 67 | 77 | 81 | 80 | 72 | 59 | 46 | 35 |
| Low °F | 17 | 16 | 23 | 33 | 43 | 54 | 59 | 59 | 52 | 41 | 32 | 24 |
| Precip" | 1.67 | 1.02 | 1.55 | 2.79 | 2.84 | 2.57 | 2.71 | 2.98 | 3.37 | 3.60 | 2.23 | 1.79 |
🏫 Schools
NCES CCD 2019 — public school district data
Frequently Asked Questions
What is the cost of living in Traverse City, MI?
Traverse City has a cost index of 102 (100 = national average). It is 2% above the national average.
What is average rent in Traverse City, MI?
The median gross rent in Traverse City is $983 per month based on 2023 Census data.
What is the average home price in Traverse City?
The median home value in Traverse City is $367,600 according to Zillow and Census data.
What is the median income in Traverse City?
The median household income in Traverse City is $71,731 per year (2023 ACS 5-year estimates).
What is the sales tax in Traverse City, MI?
The combined state and local sales tax rate in Traverse City is 6.0%. The Michigan state income tax top rate is 4.3%.
Is Traverse City, MI affordable?
Traverse City is near the national average in terms of cost of living, with an index of 102 (100 = US average).
What is the weather like in Traverse City?
Traverse City has average high temperatures of 56.0°F and average lows of 37.8°F. Annual precipitation is 29.1". Data from NOAA 1991–2020 Climate Normals.
Traverse City at a Glance
- Population
- 15,491
- Median Income
- $71,731
- Home Value
- $367,600
- Median Rent
- $983/mo
- Unemployment
- 4.5%
- Avg High Temp
- 56.0°F
- Sales Tax
- 6.0%
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Explore county-level cost of living data
Michigan Rankings
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