Traverse City has a population of approximately 15,263 and experiences a population change rate of 5.03%. The population density is 1,832.3 / sq mi.
Household
The median household income for Traverse City is $64,033, with 6,844 households and an average household size of 2.14.
Home Value
The median value of a home in Traverse City is $394,900 with an appreciation rate of 19.80%. 52.94% of housing in the state is owned while 34.24% is rented.
Cost of Living
The cost of living in Traverse City is 102.2 %.
Employment
The unemployment rate in Traverse City is 3.00%, and recent job growth is at 0.90%. Future job growth is projected at 38.86%.
Taxes
The sales tax rate in Traverse City is 6.00%, while the income tax rate is 4.25% .
Education
School expenditures in Traverse City are $12,554, and the school ratio is 17.7:1.
Weather
The average high temperature in July is 79.9 degrees, with an average low temperature in January of 15.6 degrees. The average rainfall is approximately 32.6 inches per year, with 117.6 inches of snow per year.