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Grand Traverse County, MI

Garfield charter

RANK #449 / 996 NAT  ·  #32 / 36 MI  ·  POP 95,315

1YR FORECAST: +2.3%

5YR OUTLOOK: +25%

Grand Traverse County's housing market is projected to grow +2.3% over the next year, tracking near the national average.

[01] Why Grand Traverse County?

Known as the "Cherry Capital of the World," Grand Traverse County, Michigan, is situated in the northwest Lower Peninsula on Grand Traverse Bay, an inlet of Lake Michigan. The county seat, Traverse City, is approximately a four-hour drive from Detroit. The community offers a blend of small-town charm and access to natural scenery, including miles of Lake Michigan shoreline, numerous inland lakes, and rolling hills. Outdoor recreation is a significant draw, with opportunities for hiking, biking on trails like the TART Trails network, boating, and fishing in warmer months, and skiing and snowshoeing in winter. The Interlochen Center for the Arts also provides cultural attractions.

Life in Grand Traverse County appeals to families, professionals, and retirees seeking a high quality of life. Public schools in the county are highly rated, including Traverse City Area Public Schools and Grand Traverse Academy. Commuting within the county is generally manageable, with an average travel time to work of around 21 minutes, though summer tourism can increase traffic. The Bay Area Transportation Authority (BATA) provides public bus services throughout Grand Traverse and Leelanau Counties. The local economy is supported by diverse industries, including healthcare, education, tourism, and technology. Recent economic developments include investments in natural gas infrastructure to support population and business growth, and the county is expanding its government campus.

[02] Market Snapshot

Housing Ratio
4.5x

Below national median (4.7x)

GDP Growth
+1.8%

Below national median

Home Prices
+2.3%

Outpacing national median

Climate & Terrain
0.4

Moderate climate & terrain

Price/Rent
12x

Strong rental yield

Housing is fairly valued at 4.5x relative to local economic output. The typical U.S. county is 4–6x.

[03] Top Employers

  1. 1
    Munson Medical Center Healthcare
    2,500+
  2. 2
    Traverse City Area Public Schools Education
    1,000+
  3. 3
    Northwestern Michigan College Education
    500+
  4. 4
    Traverse Bay Intermediate School District Education
    250+
  5. 5
    Grand Traverse Resort & Spa Hospitality
  6. 6
    Interlochen Center for the Arts Education
  7. 7
    Grand Traverse County Government Government
  8. 8
    Grand Traverse Pavilions Healthcare
  9. 9
    Tyson Foods Manufacturing
  10. 10
    Hagerty Insurance Finance

Estimated local headcount ranges. Larger employers shown as floor + "+"; smaller employers show exact counts where reported.

[04] Home Value Growth vs National

Grand Traverse County U.S. National

The Numbers

DEMOGRAPHICS
Population
95,315
+0.8% YoY
Median Household Income
$75,553
Median Home Value
$273,300
+2.32% 12mo
Median Rent
$1,147
Average Annual Pay
$59,257
+3.3% YoY
Employment
51,962
+1.0% YoY
Income-to-Home-Value
0.2764
More affordable than average
Migration Inflow
4.82%
of pop. from another state
Bachelor's Degree+
38.7%
of residents (national avg: 33%)

Market Activity

REAL ESTATE
Median Sale Price
$412,340
Days on Market
92
Slower market
Months of Supply
3.6
Balanced market
Sale-to-List Ratio
97.2%
Negotiation room for buyers
Sold Above List
12.2%
Listings w/ Price Drops
14.6%
Building Permits (2024)
883
Single-Family Permits
353

Source: Redfin · Census BPS — Browse sales on Redfin →

[05] Crime & Safety

A
SAFETY
GRADE
Homicide Rate
1.5
per 100K · nat avg 6.3
Firearm Fatalities
7.8
per 100K · nat avg 14.8
Injury Deaths
72.9
per 100K · nat avg 76.3
vs National Average
Well below national avg
based on homicide rate

Source: CDC/NCHS vital statistics via County Health Rankings (2020–2022 avg). Rates per 100,000 population. Grade based on homicide rate relative to national average (~6.3). Learn more →

[06] Capital Investment

$2,578M
TOTAL
PROJECT AMOUNT STATUS
Rocklocker Data Center (Kalkaska County, regional impact)
Rocklocker (subsidiary of Reefworks)
$2,000M Proposed
DTE Energy Natural Gas System Reinforcement (TCARP & GRP)
DTE Energy
$500M Under Construction
Peninsula Place Residential Condominiums
Unknown
$50M Under Construction
Grand Traverse County LaFranier Road Campus Expansion (Project Alpha)
Grand Traverse County
$28M Under Construction

Source: public records, news, corporate announcements. Amounts are estimates where noted.

[07] Score Breakdown

GDP Growth +1.8% 31 percentile
Population Growth +0.8% 65 percentile
Income Growth +8.9% 61 percentile
Vacancy Rate 1.2% 36 percentile
Home Price Change +2.3% 63 percentile
Rent Growth +8.1% 95 percentile
Price/Rent 12x 72 percentile

Bars show percentile rank among all 996 counties.

[08] Frequently Asked Questions

Is Grand Traverse County, MI a good place to move to?

Grand Traverse County scores 55/100 on the Boom Town Index, landing in the middle of the pack among 996 U.S. counties (#449). Median household income is $75,553 and job growth is running at +1.0%. The data points to a county with mixed signals — some positive indicators alongside areas that lag faster-growing peers.

Is Grand Traverse County affordable?

Housing in Grand Traverse County is roughly in line with national affordability norms. The median home costs $273,300 and the income-to-home-value ratio sits at 0.28, with rents averaging $1,147/month. Not a bargain, but not a stretch for most local earners either.

Is Grand Traverse County growing or shrinking?

Grand Traverse County's population is growing — up +0.8% YoY — while the job market is roughly flat (employment change of +1.0%). Home values shifted +2.3% over the past year. In-migration is outpacing local hiring, which often points to remote workers or retirees driving the headcount.

Are people moving to Grand Traverse County?

There's a moderate stream of newcomers. About 4.82% of residents moved from another state, which is above average and suggests Grand Traverse County has appeal as a relocation destination — though it's not among the highest-inflow counties nationally.

[09] Similar Counties by Size & Score

Allegan County, MI 56 Livingston County, MI 54 Oakland County, MI 57 Washtenaw County, MI 53 Macomb County, MI 48 Wayne County, MI 47 Pennington County, SD 55 Morgan County, IN 55