Housing costs in Traverse City?
A typical home costs
$394,900, which is 16.8% more expensive than the national average of
$338,100 and 80.6% more expensive than the average Michigan home, at
$218,700. Renting a two-bedroom unit in Traverse City costs
$1,100 per month, which is 23.1% cheaper than the national average of
$1,430 and close to the state average of
$1,100.
Can I afford Traverse City?
To live comfortably in Traverse City, Michigan, a minimum annual income of
$75,600 for a family, and
$37,200 for a single person is recommended.
What does A.I. say about Traverse City?
The cost of living in Traverse City, MI is generally low compared to other areas in the United States. The overall cost of living index for the area is 79.8, which is lower than the national average of 100. Additionally, housing costs are especially advantageous, with an index of 66.2 – almost 30 points lower than the national average. This makes Traverse City a great option for anyone looking for an affordable place to live or vacation!