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ZipNumbers

Michigan · Census place 80340

Traverse City city, MI

Quick answer

Traverse City city has 15,491 residents, ranking #71 of 745 places in Michigan. Median household income is $71,731, the median home is worth $367,600 and median gross rent runs $983 a month.

Population
15,491Traverse City city residents
Median household income
$71,731Past 12 months, inflation adjusted
Median home value
$367,600Owner-occupied units
Median gross rent
$983Rent plus utilities, monthly
Median age
42.2 yrsAll residents
Homeownership rate
60.9%Owner-occupied households

What the numbers mean in Traverse City city

Housing cost measured against local earnings.

A household earning the Traverse City city median would spend about 16.4% of gross income on the median rent. The 30% mark is the federal threshold for cost burden, so anything above it signals a stretched rental market. The median home costs 5.1× the median household income; nationally that ratio sits near 4.5×. Poverty affects 9.1% of residents and 60.9% of households own their home.

Source: US Census Bureau, ACS 2019-2023 5-year estimates · rates as published for 2019-2023 ACS 5-year

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