ZIP Code 49696 — Traverse City, MI Home Prices (2026)

The typical home in ZIP 49696 (Traverse City, Michigan) is worth about $448,000 at roughly $304 per square foot — 1% more expensive than the Traverse City median and 52% more expensive than the typical U.S. home.

$448,000

Typical home value

$304

Price per sq ft

#2 of 4

Traverse City ZIPs by value

+1%

vs Traverse City median

How 49696 compares

ZIP 49696 is one of the pricier ZIP codes in Traverse City: its typical home value of $448,000 ranks #2 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 $304, against $315 for Traverse City as a whole, $190 for Michigan, and $195 nationally.

Area	Typical value	$ / sq ft
ZIP 49696	$448,000	$304
Traverse City, MI	$444,000	$315
Michigan	$251,000	$190
United States	$294,000	$195

Home value by size in 49696

Using this ZIP’s rate of about $304 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	$304,000
1,500 sq ft	$456,000
2,000 sq ft	$608,000
2,500 sq ft	$760,000
3,000 sq ft	$912,000

Salary needed to buy a home in ZIP 49696

To buy the typical $448,000 home in ZIP 49696 with 20% down, you need a household income of roughly $122,000 a year (about $2,840 a month for the mortgage, taxes, and insurance). With 10% down the bar rises to about $145,000, because the loan is bigger and mortgage insurance kicks in.

Down payment	Cash down	Monthly payment	Income needed
5% (+PMI)	$22,400	$3,530/mo	$151,000/yr
10% (+PMI)	$44,800	$3,380/mo	$145,000/yr
20%	$89,600	$2,840/mo	$122,000/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 49696

At about $304 per square foot, here is roughly how much home different budgets get you in ZIP 49696:

Budget	Approx. size	What that looks like locally
$250k	820 sq ft	below the local median — condos, smaller or older homes
$300k	990 sq ft	below the local median — condos, smaller or older homes
$400k	1320 sq ft	around the typical home here
$500k	1640 sq ft	around the typical home here
$600k	1970 sq ft	above the median — larger homes or the pricier ZIPs

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 49696 home.

Estimate a specific home in 49696

The estimator below is pre-set to ZIP 49696 — 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 49696 sits among Traverse City’s 4 ZIP codes:

#	ZIP code	Typical value	$ / sq ft
1	49684	$493,000	$382
2	49696 (this page)	$448,000	$304
3	49685	$440,000	$294
4	49686	$406,000	$326

ZIP 49696 home prices: frequently asked

What is the average home price in ZIP code 49696? +

The typical home in ZIP 49696 (Traverse City, MI) is worth about $448,000 as of 2026. That is 1% more expensive than the Traverse City median of $444,000 and 52% more expensive than the U.S. median of $294,000.

What is the price per square foot in 49696? +

About $304 per square foot in 49696, versus $315 across Traverse City and $190 across Michigan. At that rate a 1,500 sq ft home runs roughly $456,000 and a 2,500 sq ft home about $760,000.

What salary do you need to buy a house in ZIP 49696? +

For the typical $448,000 home in ZIP 49696, a household income of about $122,000 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 $145,000; with 5% down about $151,000.

Is 49696 an expensive ZIP code? +

Within Traverse City, 49696 ranks #2 of 4 ZIP codes by typical home value, which makes it one of the pricier 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.