Land and home values in Traverse City, MI
Traverse City is a city in Grand Traverse County, Michigan, home to about 15,593 people. Residential land runs about $11.80 per sq ft, the typical home is worth about $481,000, and a 2-bedroom rents for about $1,370 a month, as of October 12, 2026.
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| Land: residential | $11.80 | per sq ft |
| Land: residential | $514,008 | per acre |
| Land: quarter-acre lot | $128,502 | 10,890 sq ft |
| Home: typical (median) | $481,000 | value |
| Home: entry-level | $249,000 | lower quartile |
| Home: upper-end | $575,000 | upper quartile |
| Build new | $194 | per sq ft, no land |
| Rent: 1-bedroom | $1,150 | per month |
| Rent: 2-bedroom | $1,370 | per month |
| Rent: 3-bedroom | $1,750 | per month |
| Rent: 4-bedroom | $1,810 | per month |
| Gross yield, 2-bed | 3.4% | a year |
ZIP codes
Questions people ask
How much is land worth in Traverse City, MI?
Residential land in Traverse City, MI is about $11.80 per square foot, or $514,008 an acre, as of October 2026. A quarter-acre lot (10,890 sq ft) is about $128,502. Smaller lots sell for more per square foot and large tracts for less.
What is the typical home value in Traverse City, MI?
The typical (median) home in Traverse City, MI is worth about $481,000, with entry-level homes around $249,000 and upper-end homes around $575,000, as of October 2026.
How much is rent in Traverse City, MI?
A 2-bedroom rents for about $1,370 a month in Traverse City, MI, a 1-bedroom about $1,150 and a 3-bedroom about $1,750 (gross rent including utilities, HUD Fair Market Rent basis).
Is this an appraisal?
No. Indicative values for screening, budgeting and negotiation, not an appraisal. For lending, a tax appeal or legal use, hire a state-licensed or certified appraiser.