Traverse City, MI—49684
Real Estate Data & Market Trends
Key Metrics at a Glance
Median Home Value
$493,000
0.6% YoY Growth
Household Income
$75,700
25.2% YoY Growth
Days on Market
32
8.0% Longer YoY
Home Price Forecast
2.4%
Median Rent
$2,000
3.9% YoY Growth
1-Bed Rent
$1,400
1.9% YoY Growth
2-Bed Rent
$1,900
18.5% YoY Growth
3-Bed Rent
$2,500
3.5% YoY Growth
Home Price Trends — Traverse City, MI
As of May '26, the median home price in Traverse City, MI is $493,000, with a year-over-year change of 0.6%. This indicates that home prices in Traverse City, MI are flat. According to Zillow, the 1-year price projection is 2.4%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $493,000 | 0.6% |
| Single Family | $514,000 | 0.6% |
| Condos | $418,000 | 3.0% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed |