ZIP Code 49686 — Traverse City, MI Home Prices (2026)

The typical home in ZIP 49686 (Traverse City, Michigan) is worth about $406,000 at roughly $326 per square foot — 9% more affordable than the Traverse City median and 38% more expensive than the typical U.S. home.

$406,000

Typical home value

$326

Price per sq ft

#4 of 4

Traverse City ZIPs by value

-9%

vs Traverse City median

How 49686 compares

ZIP 49686 is one of the more affordable ZIP codes in Traverse City: its typical home value of $406,000 ranks #4 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 $326, against $315 for Traverse City as a whole, $190 for Michigan, and $195 nationally.

Area	Typical value	$ / sq ft
ZIP 49686	$406,000	$326
Traverse City, MI	$444,000	$315
Michigan	$251,000	$190
United States	$294,000	$195

Home value by size in 49686

Using this ZIP’s rate of about $326 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	$326,000
1,500 sq ft	$489,000
2,000 sq ft	$652,000
2,500 sq ft	$815,000
3,000 sq ft	$978,000

Salary needed to buy a home in ZIP 49686

To buy the typical $406,000 home in ZIP 49686 with 20% down, you need a household income of roughly $110,000 a year (about $2,580 a month for the mortgage, taxes, and insurance). With 10% down the bar rises to about $131,000, because the loan is bigger and mortgage insurance kicks in.

Down payment	Cash down	Monthly payment	Income needed
5% (+PMI)	$20,300	$3,200/mo	$137,000/yr
10% (+PMI)	$40,600	$3,060/mo	$131,000/yr
20%	$81,200	$2,580/mo	$110,000/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 49686

At about $326 per square foot, here is roughly how much home different budgets get you in ZIP 49686:

Budget	Approx. size	What that looks like locally
$200k	610 sq ft	below the local median — condos, smaller or older homes
$250k	770 sq ft	below the local median — condos, smaller or older homes
$300k	920 sq ft	below the local median — condos, smaller or older homes
$400k	1230 sq ft	around the typical home here
$500k	1530 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 49686 home.

Estimate a specific home in 49686

The estimator below is pre-set to ZIP 49686 — 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 49686 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	$440,000	$294
4	49686 (this page)	$406,000	$326

ZIP 49686 home prices: frequently asked

What is the average home price in ZIP code 49686? +

The typical home in ZIP 49686 (Traverse City, MI) is worth about $406,000 as of 2026. That is 9% more affordable than the Traverse City median of $444,000 and 38% more expensive than the U.S. median of $294,000.

What is the price per square foot in 49686? +

About $326 per square foot in 49686, versus $315 across Traverse City and $190 across Michigan. At that rate a 1,500 sq ft home runs roughly $489,000 and a 2,500 sq ft home about $815,000.

What salary do you need to buy a house in ZIP 49686? +

For the typical $406,000 home in ZIP 49686, a household income of about $110,000 a year covers the payment with 20% down (a 30-year fixed at 6.5%, plus taxes and insurance, under the 28% rule). With 10% down you need roughly $131,000; with 5% down about $137,000.

Is 49686 an expensive ZIP code? +

Within Traverse City, 49686 ranks #4 of 4 ZIP codes by typical home value, which makes it one of the more affordable ZIP codes in Traverse City. Nationally it is relatively expensive.

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.