Traverse City, MI Cost Of Living
Traverse City's Overall Cost Of Living
Lower Than The National Average
In Michigan
In America
What is the cost of living in Traverse City, MI?
According to the most recent data on the cost of living, Traverse City has an overall cost of living index of 95 which is 0.9x lower than the national index of 100.
Compared to only Michigan, Traverse City has a cost of living index that's 1.0x higher than Michigan's index of 91.
The standard of living in Traverse City ranks as #2,449 most affordable out of the 6,418 places we measured in Michigan. By definition, that implies Traverse City ranks as the #3,969 most expensive place in the Wolverine State.
Traverse City Cost Of Living Vs. Michigan
| Living Expense | Traverse City | Michigan | National Average | |
|---|---|---|---|---|
| Overall | 95 | 91 | 100 | |
| Services | 90 | 95 | 100 | |
| Groceries | 93 | 90 | 100 | |
| Health | 101 | 96 | 100 | |
| Housing | 103 | 76 | 100 | |
| Transportation | 88 | 101 | 100 | |
| Utilities | 99 | 103 | 100 | |
Traverse City, MI Housing Cost Breakdown
Housing swings affordability the most between places in Michigan, so we broke down the statistics around housing costs into more detail. It's also important to consider median household incomes to make apples-to-apples comparisons across locations.
Home and income come data comes from the most recent US Census ACS 2014-2018.
Median Home Value
Median Rent
Median Income
| Statistic | Traverse City | Michigan | United States |
|---|---|---|---|
| Median Home Value | $282,900 | $162,600 | $229,800 |
| Median Rent | $930 | $892 | $1,096 |
| Median Income | $61,056 | $59,234 | $64,994 |
| Home Value To Income | 4.6x | 2.7x | 3.5x |
| Rent To Monthly Income | 0.18x | 0.18x | 0.2x |
Detailed Traverse City Services Costs Vs. Michigan
| Item | Traverse City | Michigan |
|---|---|---|
| Shampoo | $0.91 | $1.06 |
| Movie | $11.37 | $10.68 |
| Bowling | $12.05 | $14.67 |
Detailed Traverse City Groceries Costs Vs. Michigan
| Item | Traverse City | Michigan |
|---|---|---|
| Ground Beef | $4.64 | $4.22 |
| Fried Chicken | $1.1 | $1.39 |
| Milk | $1.93 | $2.05 |
Detailed Traverse City Health Costs Vs. Michigan
| Item | Traverse City | Michigan |
|---|---|---|
| Haircut | $10.68 | $18.62 |
| Beauty Salon | $22.7 | $39.05 |
| Toothpaste | $2.5 | $2.34 |
Detailed Traverse City Transportation Costs Vs. Michigan
| Item | Traverse City | Michigan |
|---|---|---|
| Potatoes | $2.89 | $3.29 |
| Pizza | $10.01 | $10.62 |
| Beer | $8.19 | $9.38 |
| Optometrist | $74.0 | $108.57 |
| Doctor | $176.5 | $116.17 |
| Dentist | $81.33 | $99.13 |
Detailed Traverse City Utilities Costs Vs. Michigan
| Item | Traverse City | Michigan |
|---|---|---|
| Gasoline | $1.71 | $2.22 |
| Tire Balancing | $56.2 | $50.07 |
| All Electricity | $160.46 | $167.67 |
| Phone | $179.44 | $175.64 |
Traverse City SnackAbility
/10
