Traverse City, MI
Population 15,491 · Michigan
About Traverse City, MI
Traverse City is a mid-sized city in Michigan with a population of 15,491 residents. The median household income is $71,731 per year, which is above the national average. The median age in Traverse City is 42.2 years.
Housing in Traverse City has a median home value of $367,600 and median monthly rent of $983. Of the 8,583 total housing units, the majority are owner-occupied, with 4,454 owner-occupied and 2,858 renter-occupied units.
The unemployment rate in Traverse City is 4.5% and the poverty rate is 9.1%. 47.0% of residents hold a bachelor's degree or higher. The average commute time is 18.8 minutes.
Cost of Living in Traverse City, MI
Compared to national averages, Traverse City has a median household income of $71,731 (5% below the national median of $75,149). Home values average $367,600, which is 50% above the national median. Monthly rent at $983 is 15% below the US average of $1,163. Within Michigan, Traverse City's income is 9% above the state average of $66,017, and home values are 100% above the state median of $183,391.
Why Live in Traverse City, MI?
Traverse City offers rent that’s lower than the national average at $983/month, and a well-educated community where 47.0% of residents hold a bachelor’s degree or higher, and a low poverty rate of 9.1%, better than the national average. Additionally, the city features short commute times averaging just 18.8 minutes.
Potential considerations include median household income ($71,731) that falls below the national average, and a competitive housing market where the typical home costs $367,600. However, Traverse City’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Traverse City has a population of 15,491 with a median age of 42.2 years. Compare Traverse City with other cities to see how it stacks up, or explore all cities in Michigan.
Similar Cities Near Traverse City
Cities in Michigan with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Mount Clemens | 15,567 | $57,663 | $169,000 | Compare |
| Northview | 15,225 | $82,853 | $262,200 | Compare |
| Harper Woods | 15,205 | $61,446 | $143,600 | Compare |
| Berkley | 15,084 | $113,103 | $289,200 | Compare |
| Hazel Park | 14,945 | $62,878 | $141,200 | Compare |
| Grandville | 16,135 | $78,551 | $251,100 | Compare |
| Grosse Pointe Woods | 16,177 | $129,442 | $322,500 | Compare |
| Owosso | 14,658 | $53,702 | $121,500 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in Michigan
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
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Frequently Asked Questions about Traverse City
What is the population of Traverse City, MI?
The population of Traverse City, MI is 15,491 according to the latest Census data.
What is the median household income in Traverse City?
The median household income in Traverse City, MI is $71,731 per year.
What is the median home value in Traverse City?
The median home value in Traverse City, MI is $367,600.
What is the average rent in Traverse City?
The median monthly rent in Traverse City, MI is $983.
What is the unemployment rate in Traverse City?
The unemployment rate in Traverse City, MI is 4.5%.