Traverse City Metro Area, MI Housing

The Traverse City, MI Metro Area has a housing median value of $342,100, which is higher than the US housing median value of $338,100. The one-year house appreciation rate in Traverse City is also higher than the US average at 10.14%. This suggests that the Traverse City housing market is healthy and vibrant. With its high median value and strong appreciation rate, it provides an attractive place for people looking to buy or invest in housing.

The median home cost in Traverse City Metro Area is $342,100. Home appreciation the last 10 years has been 122.2%. Home Appreciation in Traverse City Metro Area is up 19.8%.

Average Age of Homes

- The median age of Traverse City Metro Area real estate is 34 years old

The Rental Market in Traverse City Metro Area

- Renters make up 15.1% of the Traverse City Metro Area population
- 1.7% of houses and apartments in Traverse City Metro Area, are available to rent

DID YOU KNOW

Buying a home is the biggest single purchase most people make during their lives. The second largest is most often an automobile.

Median Monthly Rent by Number of Bedrooms

Housing by Year Built

Housing	Traverse City, Michigan	United States
	84,425.0	139,647,020.0
	37	42
	$342,100	$338,100
	19.8%	16.6%
	69.9%	57.0%
	122.2%	101.1%
	$10.45	$10.98
	$2,374	$2,690
	58.6%	57.4%
	27.2%	11.2%
	14.1%	31.4%
Vacant Housing
	1.7%	1.9%
	0.1%	0.4%
	0.6%	0.7%
	0.3%	0.4%
	21.6%	3.6%
	3.0%	4.1%
Value of Owner-Occupied Housing
	2.4%	2.6%
	2.3%	2.4%
	2.6%	2.8%
	2.5%	3.9%
	3.0%	4.5%
	12.5%	11.3%
	16.6%	13.0%
	25.0%	20.1%
	13.7%	13.6%
	7.0%	8.3%
	7.1%	9.7%
	2.7%	3.9%
	1.5%	2.2%
	0.4%	0.8%
	0.6%	1.1%
Housing Units by Year Structure Built
	0.1%	0.2%
	16.0%	13.6%
	16.0%	13.6%
	18.8%	13.6%
	13.5%	13.2%
	17.0%	14.8%
	18.8%	13.6%
	6.1%	10.0%
	3.3%	4.7%
	10.6%	12.2%

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