Housing costs in Traverse City?
A typical home costs
$342,100, which is 1.2% more expensive than the national average of
$338,100 and 56.4% more expensive than the average Michigan home, at
$218,700. Renting a two-bedroom unit in Traverse City costs
$1,040 per month, which is 27.3% cheaper than the national average of
$1,430 and 5.8% cheaper than the state average of
$1,100.
Can I afford Traverse City?
To live comfortably in Traverse City Michi Metro Area, Michigan, a minimum annual income of
$65,520 for a family, and
$34,000 for a single person is recommended.
What does A.I. say about Traverse City?
The cost of living in Traverse City, MI Metro Area is below the national average. According to data, the cost of living index for this area is 94.2 which is 5.8 points lower than the US average Cost of Living which is 100. This relatively low cost of living makes it an attractive option for potential homeowners as it can equate to lower home prices. The median value of a house in Traverse City, MI Metro Area is currently $342,100 compared to the US average House Value of $338,100.