Home values, rents and more in Traverse City, MI
September 2026 figures from Zillow and the U.S. Census Bureau · updated 2026-11-07
Open Traverse City in ProMap- Under $430k
- $430k–$440k
- $440k–$480k
- $480k–$490k
- $490k+
- No data
How Traverse City compares
The typical home in Traverse City, MI is worth about $444,000, according to the Zillow Home Value Index for September 2026. Home values in Traverse City are 6% above the typical value in the Traverse City metro area ($419,000) and 21% above the U.S. typical value ($366,000).
Over the past year, home values in Traverse City rose 2.1%, compared with +3.2% in the Traverse City metro area and +1.2% nationally.
Typical rent is $1,850 a month (Zillow Observed Rent Index), about the same as the Traverse City metro area ($1,853) and 4% below the U.S. ($1,932). Rents rose 3.7% over the past year.
The median household income is $74,087, against $80,889 in the Traverse City metro area and $80,734 in the U.S. (Census Bureau, American Community Survey 2020–24).
About 15,593 people live in Traverse City (American Community Survey 2020–24).
Traverse City has the 10th-highest typical home value of the 22 cities in the Traverse City metro area and the 50th-highest of 686 in Michigan with Zillow figures.
Part of: Grand Traverse County, MI · Traverse City metro area · Michigan
More for Traverse City in ProMap Plus
These measures are on the map for subscribers. Open ProMap to see them for Traverse City and every other place.
- 5- and 10-year price changes
- Days on market and months of supply
- Price cuts and sale-to-list ratio
- Price-to-income and monthly cost to buy
- Crime rates
- Homeowners insurance premiums
- Commute time to downtown
- Flood, wildfire and natural hazard risk
- Property-tax rate
- 2024 presidential vote
- Age, education and household make-up
- Amenities and transit nearby
Nearby cities
ZIP codes in Traverse City, MI
Sources
Home values: Zillow Home Value Index (ZHVI), all homes, middle tier, smoothed and seasonally adjusted, September 2026. Rents: Zillow Observed Rent Index (ZORI), seasonally adjusted. Population: Census population estimates (July 2025) for states, metros and counties; ACS 2020–24 for cities and ZIP codes. Income: U.S. Census Bureau, ACS 2020–24 5-year estimates. Boundaries: U.S. Census Bureau cartographic boundary files. Compiled by Home Economics.
"Typical" is Zillow's middle-tier value (homes between the 35th and 65th percentiles), not a median sale price. Changes are over the 12 months to September 2026.