Cost of living in Traverse City, MI
156,972 people (Census 2025 estimate). Overall prices are 6.6% below the US average, with housing at 78.1 on BEA’s index (US = 100). A single renter on $60,000 keeps $1,248 a month after 2026 taxes and modeled costs.
Typical household budgets in Traverse City, MI
Computed by MoveMath’s engine with 2026 tax law, HUD Fair Market Rent for the bedrooms each household needs, DOL 2022 childcare prices for Grand Traverse County, MI in current dollars, USDA Moderate-Cost food, one car per adult and $1,000 a month of other spending at US-average prices scaled by local price levels.
| Per month | Single, $60k | Couple + toddler, $110k | Family of four, $80,889 |
|---|---|---|---|
| Gross income | $5,000 | $9,167 | $6,741 |
| Taxes | $992 | $1,581 | $797 |
| Take-home pay | $4,008 | $7,585 | $5,943 |
| Housing | $1,188 | $1,436 | $1,436 |
| Childcare | $0 | $848 | $1,566 |
| Food | $413 | $926 | $1,202 |
| Transportation | $164 | $329 | $329 |
| Sales tax | $28 | $28 | $28 |
| Other goods & services | $966 | $966 | $966 |
| Left over | $1,248 | $3,052 | $416 |
Family of four = two adults, a preschooler and a school-age child at the metro’s median household income ($80,889). Click a column to open it in the budget planner and change any input.
Price levels: Traverse City, MI vs Michigan and the US
BEA Regional Price Parities, 2024. 100 = US average; bars compare the metro (dark) with Michigan statewide (light).
Within Michigan, Traverse City, MI ranks 7th of 15 metros on overall prices; the state as a whole is at 96.2. The dashed line marks the US average.
Rent and homeownership
| Unit | HUD Fair Market Rent | Income needed at 30% | Share of median income |
|---|---|---|---|
| Studio | $1,181 | $47,240 | 17.5% |
| 1-bedroom | $1,188 | $47,520 | 17.6% |
| 2-bedroom | $1,436 | $57,440 | 21.3% |
| 3-bedroom | $1,883 | $75,320 | 27.9% |
| 4-bedroom | $1,928 | $77,120 | 28.6% |
FY2027 FMRs for Grand Traverse County, MI HUD Metro FMR Area: 40th-percentile gross rent (rent + tenant-paid utilities) for standard-quality units. Census median gross rent, all unit sizes: $1,225 (ACS 2020-2024).
Childcare prices in Grand Traverse County, MI
| Age band | Center, weekly (2022) | Center, yearly today* | Home-based, weekly (2022) | Home-based, yearly today* |
|---|---|---|---|---|
| Infant (under 2) | $160 | $10,170 | $175 | $11,125 |
| Toddler (2) | $160 | $10,170 | $175 | $11,125 |
| Preschool (3–4) | $156 | $9,891 | $171 | $10,898 |
| School-age (5–12) | $140 | $8,899 | $140 | $8,914 |
DOL National Database of Childcare Prices, 2022 county medians for full-time care in Grand Traverse County, MI (the metro’s principal county). *52 weeks × 1.2224, the BLS CPI change for day care and preschool from the 2022 average to 2026-08.
Taxes: what you keep in Traverse City
| Single filer, 2026 | $50,000 | $75,000 | $120,000 |
|---|---|---|---|
| Federal income tax | $3,820 | $7,670 | $17,570 |
| Social Security + Medicare | $3,825 | $5,738 | $9,180 |
| Michigan income tax | $1,874 | $2,937 | $4,849 |
| Take-home pay / month | $3,373 | $4,888 | $7,367 |
| Share of pay to taxes | 19.0% | 21.8% | 26.3% |
Some Michigan cities levy local income taxes; none for Traverse City is in our verified data, so local tax is not included. State sales tax: 6% (state rate only; local rates add on), groceries exempt.
Calculate take-home pay for your household in Traverse City, MI
Energy and fuel
EIA: electricity 2025, natural gas 2024, gasoline week ending 2026-10-05. Renters’ utilities are already inside gross rent.
Nearby metros
| Metro | Distance | Price level | 2-BR FMR | Single $60k left over |
|---|---|---|---|---|
| Traverse City, MI | — | 93.4 | $1,436 | $1,248 |
| Midland, MI · compare | 103 mi | 91.9 | $1,205 | $1,500 (+$252) |
| Muskegon, MI · compare | 110 mi | 92.5 | $1,285 | $1,454 (+$206) |
| Bay City, MI · compare | 117 mi | 91.9 | $1,055 | $1,601 (+$353) |
| Green Bay, WI · compare | 118 mi | 93.1 | $1,287 | $1,432 (+$184) |
| Saginaw, MI · compare | 123 mi | 90.9 | $1,141 | $1,543 (+$295) |
| Grand Rapids, MI · compare | 124 mi | 95.5 | $1,630 | $1,071 (−$177) |
Frequently asked questions
Is Traverse City, MI expensive to live in?+
BEA’s Regional Price Parities put overall prices in the Traverse City, MI metro at 93.4 (US = 100) in 2024 — 6.6% below the national average and the 199th highest of 387 metros. Housing is 78.1, goods 93.7.
What salary do you need to live in Traverse City, MI?+
A single renter earning $60,000 keeps $4,008 a month after 2026 taxes and has $1,248 left after rent at HUD Fair Market Rent, food, fuel, sales tax and other modeled costs. Use the cost of living calculator to find the salary that matches your current budget.
How much is rent in Traverse City, MI?+
HUD’s FY2027 Fair Market Rent — the 40th-percentile gross rent including utilities — is $1,188 for a 1-bedroom and $1,436 for a 2-bedroom. The Census median gross rent for all units is $1,225.
Does Traverse City have a local income tax?+
Some Michigan cities levy local income taxes; none for Traverse City is in our verified data, so local tax is not included.