Traverse City, MI
15,593Residents
$74,087Median household income
$995/moMedian gross rent
$415,400Median home value
42.7Median age
47%Adults with a bachelor’s degree or higher
64%Homes lived in by their owners
5.6×Home value to household income
Median rent takes about 16% of the median household income in Traverse City.
What pay do you need to rent here?
To keep rent at or below 30% of gross pay, you would need about $40,000 a year. In Michigan that leaves roughly $2,718 a month after tax. See the full paycheck breakdown for $40,000.
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Source: Census ACS 2024 ACS 5-year, places. Small places carry larger margins of error.