Traverse City, MI Profile: Facts & Data

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Traverse City, Michigan - Basic Facts

The City of Traverse City had a population of 16,109 as of July 1, 2024. Traverse City ranks in the upper quartile for Population Density when compared to the other cities, towns and Census Designated Places (CDPs) in Michigan. See peer rankings below.

The primary coordinate point for Traverse City is located at latitude 44.7631 and longitude -85.6206 in Grand Traverse County. The formal boundaries for the City of Traverse City encompass a land area of 8.33 sq. miles and a water area of 0.33 sq. miles. Grand Traverse County is in the Eastern time zone (GMT -5).

While the primary coordinates for City of Traverse City are located in Grand Traverse County, it should be noted that the formal boundaries for this community also extend into and Leelanau County.

The City of Traverse City has a C5 Census Class Code which indicates an active incorporated place that is independent of any county subdivision and serves as a county subdivision equivalent. It also has a Functional Status Code of "A" which identifies an active government providing primary general-purpose functions.


Jump to... (On This Page!)
  1. Traverse City 2024 Demographic Data
  2. Growth Rates for Traverse City (Historical & 5-Year Forecast)
  3. Peer Comparisons (Rank and Percentile)
  1. Neighborhoods Demographics (Home Values, Household Income, etc.)
  2. Michigan Research Tools (Easy Tools & Current Data)
  3. Michigan Data Comparison Tool - 2024 Demographics
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Traverse City, MI Data & Demographics (As of July 1, 2024)

POPULATION

Total Population 16,109 (100%)
Population in Households 15,236 (94.6%)
Population in Families 10,175 (63.2%)
Population in Group Quarters1 873 ( 5.4%)
Population Density 1,947
Diversity Index2 23
 
 

INCOME

Median Household Income $77,264
Average Household Income $112,965
% of Income for Mortgage4 36%
Per Capita Income $53,304
Wealth Index5 109
Socioeconomic Status Index6 Moderate (55.3)
 

HOUSING

Total HU (Housing Units) 8,712 (100%)
Owner Occupied HU 4,706 (54.0%)
Renter Occupied HU 2,878 (33.0%)
Vacant Housing Units 1,128 (12.9%)
Median Home Value $438,411
Average Home Value $543,955
Housing Affordability Index3 68
 

HOUSEHOLDS

Total Households 7,584
Average Household Size 2.01
Family Households 3,677
Average Family Size 3.00
NOTES
  1. Group Quarters - a place where people live or stay in a group living arrangement. Includes college residents halls, nursing facilities, military barracks, and correctional facilities.
  2. The Diversity Index is a scale of 0 to 100 that represents the likelihood that two persons, chosen at random from the same area, belong to different races or ethnic groups. If an area's entire population belongs to one race AND one ethnic group, then the area has zero diversity. An area's diversity index increases to 100 when the population is evenly divided into two or more race/ethnic groups.
  3. The Housing Affordability Index base is 100 and represents a balance point where a resident with a median household income can normally qualify to purchase a median price home. Values above 100 indicate increased affordability, while values below 100 indicate decreased affordability.
  4. The % of Income for Mortgage quantifies the percentage of median household income dedicated to mortgage payments on a home priced at the median value (assuming a 30-year mortgage and a 20% down payment).
  5. The Wealth Index is based on a number of indicators of affluence including average household income and average net worth, but it also includes the value of material possessions and resources. It represents the wealth of the area relative to the national level. Values above or below 100 represent above-average wealth or below-average wealth compared to the national level.
  6. The Socioeconomic Index ranges from zero (lowest relative status) to 100 (highest relative status). This measure quantifies disparities in social position of an area's inhabitants and is built from a broad range of demographic, housing, and socioeconomic inputs. More information on this measure can be found in Esri's SEI tutorial.

GROWTH RATE / YEAR

2020-2024 2024-2029
Population 0.64% 0.24%
Households 0.65% 0.58%
Families   0.18%
Median Household Income   2.97%
Per Capita Income   3.11%
Owner Occupied HU   1.31%

Traverse City, MI - Peer Comparisons by Rank and Percentile

The table below compares Traverse City to the other 745 incorporated cities, towns and CDPs in Michigan by rank and percentile using July 1, 2024 data. The location Ranked # 1 has the highest value. A location that ranks higher than 75% of its peers would be in the 75th percentile of the peer group.

Variable Description Rank Percentile
Total Population # 69 91st
Population Density # 144 81st
Median Household Income # 194 74th
Housing Affordability Index # 32 4th
Per Capita Income # 89 88th
Diversity Index # 395 47th

Additional comparisons and rankings can be made with a VERY EASY TO USE Michigan Census Data Comparison Tool.

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