Housing & Real Estate — Traverse City, Michigan
Overview
| Total Housing Units | 8,583 |
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| Occupied | 7,312 |
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| Vacant | 1,271 |
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| Owner-Occupied | 4,454 |
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| Renter-Occupied | 2,858 |
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| Median Home Value (Census) | $415,400 |
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| Estimated 2026 | ~$453,000 |
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| Median Rent | $983/mo |
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| Median Property Tax | $4,671/yr |
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Affordability
| Home Price to Income Ratio | N/Ax |
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| Home Affordability | N/A |
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| Rent as % of Income | N/A% |
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| Severely Rent-Burdened | 35.6% |
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Housing Age
| Built 2010 or later | 961 |
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| Built 2000-2009 | 786 |
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| Built 1990-1999 | 433 |
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| Built before 1960 | 3,991 |
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| Median Year Built | 1959 |
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Sources: Census ACS 5-Year 2023; Census ACS 5-Year 2023, B25077; HUD FMR FY2026.
