Traverse City, MI Home Values (2026)
The median home value in Traverse City is about $439,000 (~$314/sq ft) — 51% more expensive than the typical U.S. home. Below: how Traverse City compares, values by home size and ZIP code, and a free tool for your own address.
Thinking of moving to Traverse City?
Here’s what the numbers say about housing costs in Traverse City. A typical home runs about $439,000, which is 51% more expensive than the national median and 79% more expensive than the Michigan average. At roughly $314 per square foot, a median budget here buys you around 1,400 sq ft of home.
Prices swing a lot by neighborhood: across Traverse City’s 4 ZIP codes, the most affordable is 49686 (~$403,000) and the priciest is 49684 (~$490,000) — roughly a 1.2× difference. If you’re relocating, that spread is where the real budgeting happens, so it pays to target ZIP by ZIP rather than the citywide average.
Traverse City home value by size
Using the local rate of about $314 per square foot, here’s a rough estimate by home size. Condition, lot, and exact location move these meaningfully.
| Home size | Estimated value |
|---|---|
| 1,000 sq ft | $314,000 |
| 1,500 sq ft | $471,000 |
| 2,000 sq ft | $628,000 |
| 2,500 sq ft | $785,000 |
| 3,000 sq ft | $942,000 |
Estimate your specific home in Traverse City
Enter your ZIP and size for an instant estimate tailored to your exact area:
Home values by ZIP code in Traverse City, MI
Typical value and price per square foot for each Traverse City ZIP code we have data for:
| ZIP code | Typical value | $ / sq ft |
|---|---|---|
| 49684 | $490,000 | $388 |
| 49696 | $442,000 | $316 |
| 49685 | $436,000 | $285 |
| 49686 | $403,000 | $312 |
Grow your home’s value in Traverse City
Use our Increase Home Value calculator to see which improvements add the most, or read the pre-sale projects that actually pay off. See how Traverse City stacks up against other Michigan cities on the Michigan home values page, or browse the full U.S. directory.
Directional estimates from public market data (Realtor.com & Zillow research), not appraisals. Actual values vary by home and change over time.