Grand Traverse County, Michigan Housing Market
In Grand Traverse County, Michigan, the median home value is $339,400, with a median monthly rent of $1,288. This places Grand Traverse County at #461 nationally out of 3134 counties by median home value, and #5 within Michigan.
📈 Price Trend (2017 → 2024)
📊 Recent Market Momentum (FHFA HPI)
FHFA House Price Index — All-Transactions, Annual (2000 = 100) · Latest: 2025
📍 Economic Snapshot
Employment & Wages
- Avg weekly wage: $1,170
- Establishments: 3,814
- BLS QCEW, 2025
Housing Supply
- Single-family: 453
- Multi-family: 22
- U.S. Census Bureau, Building Permits Survey
Migration Patterns
- Inflow: 43,956 (avg $105,073)
- Outflow: 41,645 (avg $103,735)
- IRS Statistics of Income
📍 Sub-Market Activity
Top 7 active ZIP codes in Grand Traverse County · Latest: 2025
| # | ZIP Code | HPI | YoY Change | Latest Year |
|---|---|---|---|---|
| 1 | 49633 | 293.2 | +5.94% | 2025 |
| 2 | 49696 | 303.4 | +11.00% | 2025 |
| 3 | 49686 | 295.7 | +4.33% | 2025 |
| 4 | 49685 | 283.2 | +2.70% | 2025 |
| 5 | 49620 | 236.1 | +8.16% | 2025 |
| 6 | 49649 | 256.8 | +7.80% | 2025 |
| 7 | 49637 | 282.8 | +8.90% | 2025 |
Source: FHFA HPI for Five-Digit ZIP Codes (All-Transactions Index, 2000 = 100).
This product uses FHFA Data but is neither endorsed nor certified by FHFA.
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💰 Mortgage Guide → 🧾 Property Tax Data →How Grand Traverse County Compares
| Metric | Grand Traverse County | Michigan Average | U.S. Average |
|---|---|---|---|
| Median Home Value | $339,400 | $197,292 | $227,706 |
| Median Gross Rent | $1,288 | $905 | $968 |
| Owner Occupancy Rate | 77.2% | 80.2% | 73.3% |
| Price/Rent Ratio | 22.0 | 17.9 | 18.7 |
Market Analysis
The median home value in Grand Traverse County is 72.0% above the Michigan state average and 49.1% above the U.S. national average. The median rent of $1,288/month is 42.3% above the state average.
With a price-to-rent ratio of 22.0, renting is generally more cost-effective than buying in the short to medium term. The market favors buyers only for long-term holds.
Grand Traverse County has an owner-occupancy rate of 77.2%, compared to 80.2% in Michigan and 73.3% nationally. This indicates a more homeowner-heavy market than the U.S. average.
Similar Counties by Home Value
| County | State | Median Home Value | Median Rent |
|---|---|---|---|
| Walton County | Georgia | $339,500 | $1,175 |
| Tehama County | California | $339,600 | $1,184 |
| Brevard County | Florida | $339,600 | $1,556 |
| Cheatham County | Tennessee | $338,700 | $1,345 |
| Morgan County | Colorado | $338,600 | $1,025 |
Other Counties in Michigan
| County | Median Home Value | Median Rent | Owner Occ. |
|---|---|---|---|
| Oakland County | $343,600 | $1,376 | 72.7% |
| Ottawa County | $323,400 | $1,211 | 79.3% |
| Livingston County | $356,800 | $1,287 | 86.9% |
| Emmet County | $315,700 | $1,112 | 77.0% |
| Washtenaw County | $374,100 | $1,463 | 61.6% |
Data Source: U.S. Census Bureau, American Community Survey (ACS) 2024 5-Year Estimates (2017–2024). Variables: B25077 (Median Home Value), B25064 (Median Gross Rent), B25003 (Tenure). Data collected on 2026-10-14. The price-to-rent ratio is calculated as Median Home Value ÷ (Median Monthly Rent × 12).