Cost of Living in Traverse City, MI
Traverse City, MI — prices, rents and what jobs really pay here after taxes.
Salary comparison calculator
What would you need to earn in Traverse City, MI to keep the same lifestyle — after taxes — as in another city?
Prices in Traverse City, MI vs. the U.S. average
| Category | Index (U.S. = 100) | Difference |
|---|---|---|
| All items | 93.4 | −6.6% |
| Housing | 78.1 | −21.9% |
| Goods | 93.7 | −6.3% |
| Utilities | 92.4 | −7.6% |
| Other services | 99.6 | −0.4% |
Source: BEA Regional Price Parities, 2024.
Rent in Traverse City, MI
| Unit | Monthly rent | Income needed (30% rule) |
|---|---|---|
| Studio | $1,056 | $42,240/yr |
| 1 bedroom | $1,107 | $44,280/yr |
| 2 bedrooms | $1,317 | $52,680/yr |
| 3 bedrooms | $1,681 | $67,240/yr |
| 4 bedrooms | $1,756 | $70,240/yr |
HUD Fair Market Rents, FY2026, population-weighted across the metro's counties.
Take-home pay in Traverse City, MI
- Federal income tax$3,516
- Social Security (6.2%)$2,943
- Medicare (1.45%)$688
- Michigan income tax$1,767
- Take-home pay$38,555
Marginal rate: 12% federal + 4.25% state
Highest-paying jobs in Traverse City, MI
*In U.S.-average dollars after adjusting for local prices.
Frequently asked questions
Is Traverse City, MI expensive to live in?
According to the Bureau of Economic Analysis, overall prices in the Traverse City, MI metro area are 93.4% of the U.S. average, with housing at 78.1%. It is the #199 most expensive of 387 metro areas we track.
What salary do you need to live in Traverse City, MI?
To match the buying power of a $60,000 salary in an average-priced U.S. city you would need about $56,023 in Traverse City, MI (before tax differences). The median wage across all jobs here is $47,470.
How much is rent in Traverse City, MI?
HUD’s FY2026 fair market rents for Traverse City, MI are $1,056 for a studio, $1,107 for one bedroom, $1,317 for two bedrooms and $1,681 for three bedrooms, including utilities.
All salaries in Traverse City, MI
Management Occupations
- General and Operations Manager — $84,300
Business and Financial Operations Occupations
- Accountant and Auditor — $74,820
Educational Instruction and Library Occupations
- Elementary School Teachers, Except Special Education — $66,020
- Teaching Assistants, Except Postsecondary — $36,860
Healthcare Practitioners and Technical Occupations
- Registered Nurse — $83,690
Healthcare Support Occupations
- Nursing Assistant — $41,900
- Home Health and Personal Care Aide — $36,480
Food Preparation and Serving Related Occupations
- First-Line Supervisor of Food Preparation and Serving Workers — $43,030
- Waiter and Waitress — $41,380
- Bartender — $37,300
- Cooks, Restaurant — $37,270
- Fast Food and Counter Worker — $28,560
Building and Grounds Cleaning and Maintenance Occupations
- Janitors and Cleaners, Except Maids and Housekeeping Cleaners — $38,420
- Landscaping and Groundskeeping Worker — $37,970
- Maid and Housekeeping Cleaner — $35,770
Sales and Related Occupations
- Sales Representatives, Wholesale and Manufacturing, Except Technical and Scientific Products — $62,470
- First-Line Supervisor of Retail Sales Workers — $46,550
- Retail Salesperson — $34,540
- Cashier — $30,920
Office and Administrative Support Occupations
- First-Line Supervisor of Office and Administrative Support Workers — $61,760
- Bookkeeping, Accounting, and Auditing Clerks — $46,350
- Office Clerks, General — $44,470
- Secretaries and Administrative Assistants, Except Legal, Medical, and Executive — $44,200
- Medical Secretary and Administrative Assistant — $42,180
- Customer Service Representative — $42,030
- Receptionist and Information Clerk — $36,900
Construction and Extraction Occupations
- First-Line Supervisor of Construction Trades and Extraction Workers — $75,960
- Construction Laborer — $48,400
Installation, Maintenance, and Repair Occupations
- Maintenance and Repair Workers, General — $46,850
Production Occupations
- Miscellaneous Assembler and Fabricator — $37,840
Transportation and Material Moving Occupations
- Heavy and Tractor-Trailer Truck Driver — $57,700
- Light Truck Driver — $42,650
- Laborers and Freight, Stock, and Material Movers, Hand — $38,750
- Stocker and Order Filler — $35,460