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Example household · $83,730 · same pay · 1 adult

Traverse City

Housing in Traverse City, MI: Rent, Home Prices & Property Tax

$2,006 left/mo

$1,399/mo (1 bd) in Traverse City. Median home $286,500. Property tax 0.92%.

Pick a home cityHow we figure this
Rent (1-bedroom)
$1,399
/mo
Buy
$2,044
Mortgage, tax, insurance
Buying costs more
$645
/mo

To buy

  • 20% down payment$57,300
  • Mortgage at 7.24%$1,562
  • Property tax (0.92% of value)$220/mo · $2,636/yr
  • Insurance and upkeep$263
  • Monthly total$2,044

Months to 20% down

$2,006 left each month. About 29 months (2.4 years) to save $57,300.

Rent is Zillow asking rent. The price is the Census median home value. The mortgage is a 30-year fixed at 7.24%, the Freddie Mac PMMS average for the week of Oct 29, 2026, with 20% down.

Guide: state tax and rent when you compare cities

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