Traverse City, MI Real Estate
According to census data in the year 2000 there were 6,837 housing units in Traverse City.
This represents a 4.3% growth from 6,557 in 1990.
Of those housing units, 6,805 were located in either urbanized areas or urban clusters, and 32 were located in what is classified as a rural area.
Homeownership rate in Traverse City is about 59%.
Traverse City's vacancy rate, including seasonal lodging, is about 5.8%.
Average household size is 2.16 people.
The majority of houses, apartments or condos in Traverse City were built after 1953.
Statistics
Housing Size
| Housing Units by Size |
|---|
| Studio Type | 1.30% |
| One Bedroom | 14.30% |
| Two Bedrooms | 33.30% |
| Three Bedrooms | 35.50% |
| Four Bedrooms | 12.30% |
| Five Bedrooms or more | 3.20% |
Owned Homes, Apartments and Condos
| Average Household Size | 2.36 |
| Median year structure was built | 1948 |
| Median Value of occupied units | $124,600 |
| Median Price asked for vacant units | $78,800 |
Rented Homes, Apartments and Condos
| Average Household Size | 1.88 |
| Median year structure was built | 1966 |
| Median Monthly Rent asked for vacant units | $556 |
Owners Finance Status
| Housing Finance |
|---|
| Second Mortgage & Equity Loan | 0.90% |
| Second Mortgage | 6.10% |
| Home Equity Loan | 9% |
| Simple Mortgage | 47.70% |
| Debt Free | 36.30% |
| Median part of Monthly Household Income dedicated to covering home ownership costs | 18.8% |
