ZIP Code 49685 — Traverse City, MI Home Prices (2026)
The typical home in ZIP 49685 (Traverse City, Michigan) is worth about $440,000 at roughly $294 per square foot — 1% more affordable than the Traverse City median and 50% more expensive than the typical U.S. home.
How 49685 compares
ZIP 49685 is one of the more affordable ZIP codes in Traverse City: its typical home value of $440,000 ranks #3 of the 4 Traverse City ZIP codes we track (the citywide range runs from $406,000 in 49686 to $493,000 in 49684). Per square foot it costs about $294, against $315 for Traverse City as a whole, $190 for Michigan, and $195 nationally.
| Area | Typical value | $ / sq ft |
|---|---|---|
| ZIP 49685 | $440,000 | $294 |
| Traverse City, MI | $444,000 | $315 |
| Michigan | $251,000 | $190 |
| United States | $294,000 | $195 |
Home value by size in 49685
Using this ZIP’s rate of about $294 per square foot. Condition, lot, and the exact street move these meaningfully — use the estimator below for a home-specific figure.
| Home size | Estimated value |
|---|---|
| 1,000 sq ft | $294,000 |
| 1,500 sq ft | $441,000 |
| 2,000 sq ft | $588,000 |
| 2,500 sq ft | $735,000 |
| 3,000 sq ft | $882,000 |
Salary needed to buy a home in ZIP 49685
To buy the typical $440,000 home in ZIP 49685 with 20% down, you need a household income of roughly $120,000 a year (about $2,790 a month for the mortgage, taxes, and insurance). With 10% down the bar rises to about $142,000, because the loan is bigger and mortgage insurance kicks in.
| Down payment | Cash down | Monthly payment | Income needed |
|---|---|---|---|
| 5% (+PMI) | $22,000 | $3,470/mo | $149,000/yr |
| 10% (+PMI) | $44,000 | $3,320/mo | $142,000/yr |
| 20% | $88,000 | $2,790/mo | $120,000/yr |
Assumes a 30-year fixed mortgage at 6.5%, property tax at 1.1% and insurance at 0.45% of value per year, PMI of 0.75% on loans with less than 20% down, and the standard 28% housing-to-income rule. Your rate, taxes, and HOA will move these — run your own numbers in the mortgage calculator.
What your budget buys in ZIP 49685
At about $294 per square foot, here is roughly how much home different budgets get you in ZIP 49685:
| Budget | Approx. size | What that looks like locally |
|---|---|---|
| $200k | 680 sq ft | below the local median — condos, smaller or older homes |
| $250k | 850 sq ft | below the local median — condos, smaller or older homes |
| $300k | 1020 sq ft | below the local median — condos, smaller or older homes |
| $400k | 1360 sq ft | around the typical home here |
| $500k | 1700 sq ft | around the typical home here |
Wondering where that budget goes further? The relocation calculator ranks hundreds of U.S. cities by what the same money buys — it opens pre-filled with a typical 49685 home.
Estimate a specific home in 49685
The estimator below is pre-set to ZIP 49685 — pick your home’s size for an instant ballpark, then open the full calculator to adjust beds, baths, and condition.
All Traverse City ZIP codes by home value
Where 49685 sits among Traverse City’s 4 ZIP codes:
| # | ZIP code | Typical value | $ / sq ft |
|---|---|---|---|
| 1 | 49684 | $493,000 | $382 |
| 2 | 49696 | $448,000 | $304 |
| 3 | 49685 (this page) | $440,000 | $294 |
| 4 | 49686 | $406,000 | $326 |
ZIP 49685 home prices: frequently asked
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See the full Traverse City home values page, all Michigan cities, or price per square foot by ZIP code nationwide.
Directional estimates from public market data (Realtor.com & Zillow research), not appraisals. A single ZIP contains very different homes; actual values vary and change over time.