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Traverse City city, MI

ZIP 49686 — Housing & Real Estate

Source: U.S. Census Bureau ACS 2019–2023 5-Year Estimates. Page data updated 2026-08-02.

Middle ClassLow Snow AreaRemote Work Hub

Home values, rent, tenure, and housing stock

Housing & Real Estate in ZIP Code 49686

Median Home Value
$295,500
Median Rent
$1,081
Affordability Snapshot
$81,000
Est. income to buy

Household income needed for a median home under a 20% down / 6.8% illustrative mortgage model (~$1,898/mo PITI).

18%
Rent-to-Income Ratio

Below the 30% threshold — generally affordable for median earners.

4.2x
Home Price-to-Income Ratio

Within the typical 3-5x range for home affordability.

22.8 yrs
Price-to-Rent Ratio

Years to break even buying vs renting at median home value and rent.

To comfortably buy a median-priced home in ZIP 49686 in Traverse City city, MI, a household would need roughly $81,000 in annual income under a 20% down, 30-year loan at 6.8% (illustrative), keeping housing costs near 28% of income. Estimated monthly PITI is about $1,898. That is roughly in line with the local median household income ($71,198). Rates, taxes, insurance, and HOA fees vary — treat this as a planning estimate, not a lender quote.

Housing Tenure

Vacancy rate 12% — check local market conditions.

Heating Fuel
Housing Metrics
Owner Occupied
71.1%+9% vs US avg
x
Vacancy Rate
11.9%+15% vs US avg
x
Broadband Access
89.9%+3% vs US avg
x
4+ Bedrooms
5.2%-65% vs US avg
x
Built Pre-1939
2.4%-81% vs US avg
x
Built Post-2014
1.0%-85% vs US avg
x
Rent Burden >30%
18.2%-63% vs US avg
x
Mortgage-Free
44.9%+18% vs US avg
x
$295,500
Home Value
$1,081
Rent
1982
Year Built
2013
Moved In

Residents have lived here since ~2013 on average

Housing Structure

Census ACS structure types (single-family, multi-unit, etc.).

  • 1-unit detached63.6%
  • 1-unit attached6.5%
  • 2-9 units11.3%
  • 10+ units10.2%
  • Mobile home & other8.4%

Housing & Real Estate key statistics

Housing statistics
Housing
Median home value$295,500
Median rent$1,081
Owner-occupied71.1%
Vacant11.9%
Price-to-income4.2x
Est. income to buy$81,000