Cost of Living in Traverse City, MI
2024 data from the Bureau of Economic Analysis
Cost Index
93.4
6.6% below avg
Housing Index
78.1
Median Income
$73,845
Median Rent
$1,100/mo
Cost Breakdown
Overall93.4 (-6.6%)
Housing78.1 (-21.9%)
Goods93.7 (-6.3%)
Utilities92.4 (-7.6%)
Other Services99.6 (-0.4%)
National average = 100
Income & Housing
Median Household Income
$73,845/year
Median Home Value
$263,500
Median Monthly Rent
$1,100/mo
Per Capita Income
$40,465/year
Compare Traverse City, MI With
Traverse City, MI vs Akron, OHTraverse City, MI vs Athens, GATraverse City, MI vs Morgantown, WVTraverse City, MI vs Lafayette, INTraverse City, MI vs Homosassa Springs, FLTraverse City, MI vs Greenville, SCTraverse City, MI vs Monroe, MITraverse City, MI vs Billings, MTTraverse City, MI vs Lebanon, PATraverse City, MI vs Bloomington, IL
Frequently Asked Questions
Is Traverse City, MI expensive to live in?
Traverse City, MI has a cost of living index of 93.4, which is 6.6% below the national average.
How much does housing cost in Traverse City, MI?
Housing costs in Traverse City, MI are indexed at 78.1 compared to the national average of 100. The median monthly rent is $1,100.
What is the average income in Traverse City, MI?
The median household income in Traverse City, MI is $73,845 per year.
What is the average home price in Traverse City, MI?
The median home value in Traverse City, MI is $263,500.