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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 Type1.30%
One Bedroom14.30%
Two Bedrooms33.30%
Three Bedrooms35.50%
Four Bedrooms12.30%
Five Bedrooms or more3.20%
As % of Housing Units
           

Owned Homes, Apartments and Condos

Average Household Size2.36
Median year structure was built1948
Median Value of occupied units$124,600
Median Price asked for vacant units$78,800

Rented Homes, Apartments and Condos

Average Household Size1.88
Median year structure was built1966
Median Monthly Rent asked for vacant units$556

Owners Finance Status

Housing Finance
Second Mortgage & Equity Loan0.90%
Second Mortgage6.10%
Home Equity Loan9%
Simple Mortgage47.70%
Debt Free36.30%
As % of Housing Units
         
Median part of Monthly Household Income dedicated to covering home ownership costs18.8%