Traverse City, MI Metro Area

Metro Area

Population: 154,657 (2023 estimate)

Core-Based Statistical Area (CBSA)

Metro area data from the U.S. Census Bureau. Core-Based Statistical Areas (CBSAs) are defined by the Office of Management and Budget and group counties with a central urban core plus surrounding communities that are economically tied to it. Metro areas often cross county and state lines, making them the best unit for understanding regional labor markets, housing costs, and commute patterns.

Metro income rankings Compare to another metro

Trends 2017–2023

Income Poverty Home Values Rent Homeownership Education Unemployment Commute Time Work From Home Foreign-Born Uninsured

Data: U.S. Census Bureau, ACS 5-Year Estimates, 2023 (released December 2024).

Quick Facts — Traverse City, MI Metro Area

What is the median household income in Traverse City, MI Metro Area?: The median household income in Traverse City, MI Metro Area is $77,495 (U.S. Census Bureau ACS 5-Year Estimates, 2023).
What is the poverty rate in Traverse City, MI Metro Area?: The poverty rate in Traverse City, MI Metro Area is 5.7% (U.S. Census Bureau ACS 2023).
What is the median home value in Traverse City, MI Metro Area?: $286,500 (U.S. Census Bureau ACS 2023).
What is the average rent in Traverse City, MI Metro Area?: The median gross rent in Traverse City, MI Metro Area is $1,154 per month (U.S. Census Bureau ACS 2023).
What percentage of Traverse City, MI Metro Area residents have a college degree?: 38.5% of adults in Traverse City, MI Metro Area hold a bachelor's degree or higher (U.S. Census Bureau ACS 2023).

Population

154,657

Median Income

$77,495

Median Home Value

$286,500

Poverty Rate

5.7%

Unemployment (ACS 2023)

3.8%

Median Age

46.0 yrs

Since 2019 Median Income: +$16,476 (+27%) Home Value: +$83,400 (+41.1%) Poverty Rate: -0.6 pp (-9.5%) Bachelor's+: +4.6 pp (+13.6%) Unemployment: -0.9 pp (-19.1%)

Demographics

Total Population 154,657

Median Age 46.0

Female 50.3%

Race & Ethnicity

Hispanic or Latino 3.2% White (non-Hisp.) 91.2% Black 0.8% Asian 0.7% Two or More 4.4% Other 0.7%

Asian Subgroups (% of total pop.)

Indian

0.1%

Chinese

0.1%

Filipino

0.1%

Korean

0.1%

Vietnamese

0.1%

Hispanic Subgroups (% of total pop.)

Mexican

2.2%

Puerto Rican

0.3%

Cuban

0.1%

Source: U.S. Census Bureau, ACS 5-Year Estimates, 2023

Income & Poverty

Median Household Income $77,495 ±$1,749

Per Capita Income $97,657

Median Family Income $95,932

Poverty Rate 5.7%

Child Poverty Rate 10.2%

Working-Age Poverty Rate —

SNAP Recipients 8.3%

Social Security Income —

Retirement Income 33.7%

Household Income Distribution

< $10k

4.1%

$10–15k

2.2%

$15–25k

5.9%

$25–35k

7.5%

$35–50k

11.0%

$50–75k

17.5%

$75–100k

14.8%

$100–150k

20.7%

$150–200k

8.1%

$200k+

8.2%

Source: U.S. Census Bureau, ACS 5-Year Estimates, 2023

Housing

Total Housing Units 85,951

Owner-Occupied 81.2%

Renter-Occupied 18.8%

Vacancy Rate 25.3%

Median Home Value $286,500

Median Gross Rent $1,154

Owner Cost Burden (30%+) 17.3%

Renter Cost Burden (30%+) 40.0%

Home Value Distribution

< $50k

5.5%

$50–100k

4.6%

$100–200k

7.2%

$200–300k

25.4%

$300–500k

26.8%

$500k–$1M

14.9%

$1M+

4.8%

Gross Rent Distribution

< $500

10.2%

$500–1k

30.5%

$1–1.5k

32.8%

$1.5–2k

19.1%

$2–2.5k

4.9%

$2.5–3.5k

1.1%

$3.5k+

1.5%

Vehicle Availability

No vehicle

4.8%

1 vehicle

30.5%

2 vehicles

42.8%

21.9%

Housing Type

Single-fam. det.

78.0%

Single-fam. att.

3.9%

2–4 units

1.3%

5–19 units

2.3%

20+ units

3.2%

Mobile home

7.2%

Housing Age

Pre-1940

9.7%

1940–1969

2.9%

1970–1999

16.6%

2000–2009

16.9%

2010+

8.4%

Source: U.S. Census Bureau, ACS 5-Year Estimates, 2023

Education

High School or Higher 94.6%

Bachelor's or Higher 38.5%

Graduate Degree 15.8%

Some College / Associate 22.2%

Less Than High School 1.4%

Enrolled in School —

Source: U.S. Census Bureau, ACS 5-Year Estimates, 2023

Employment

Labor Force Participation 60.3%

Unemployment Rate 3.8%

Work from Home 12.8%

Self-Employed 8.4%

Government Workers 10.5%

Private For-Profit 80.7%

Industry

Edu/Health

24.9%

Retail

12.4%

Arts/Entmt.

11.1%

Prof. Services

10.7%

Manufacturing

10.3%

Construction

8.0%

Finance

6.2%

Transportation

3.4%

Public Admin

3.0%

Wholesale

2.1%

Agriculture

1.7%

Information

1.2%

Occupation

Management

40.0%

Sales

20.6%

Food Prep

17.2%

Production

12.7%

Construction

9.4%

Source: U.S. Census Bureau, ACS 5-Year Estimates, 2023

Commute

Median Travel Time 22.8 min

Drove Alone 73.8%

Carpool 9.0%

Public Transit 0.7%

Work from Home 12.8%

Walked 1.9%

Bicycle —

Source: U.S. Census Bureau, ACS 5-Year Estimates, 2023

Households & Families

Total Households 64,217

Avg. Household Size 2.00

Avg. Family Size —

Married-Couple Households 52.2%

Single-Mother Households —

Single-Father Households —

Living Alone —

Households with Children 16.0%

Multigenerational —

Source: U.S. Census Bureau, ACS 5-Year Estimates, 2023

Age Distribution

Under 5

4.6%

5–9

5.0%

10–14

5.7%

15–19

5.7%

20–24

4.9%

25–34

11.4%

35–44

11.8%

45–54

11.8%

55–64

7.4%

65–74

8.1%

75–84

14.5%

85+

6.4%

Under 18: 18.9% Working age (18–64): 81.1% 65 and over: 23.8%

Source: U.S. Census Bureau, ACS 5-Year Estimates, 2023

Social Characteristics

Immigration

Foreign Born 1.9%

Naturalized Citizen 66.5%

Speaks English Less Than Very Well 0.6%

Foreign-Born Origin

Europe

34.0%

Asia

28.1%

Latin America

17.4%

Africa

3.6%

Veterans & Disability

Veteran 7.9%

With a Disability 13.8%

Cognitive Difficulty —

Ambulatory Difficulty —

Health Insurance

Insured 95.2%

Uninsured 4.8%

Employer Insurance —

Medicaid —

Medicare —

Technology & Mobility

Broadband Internet 90.4%

Has a Computer 95.4%

Same House 1 Year Ago 89.7%

Moved from Abroad 0.2%

Source: U.S. Census Bureau, ACS 5-Year Estimates, 2023