Overall
93.4
Below avg
Metro cost profile · 2024 BEA RPP
Traverse City, MI
Cost-of-living indicators for Traverse City, MI, from Bureau of Economic Analysis Regional Price Parities, overall, goods, services, and rents vs the U.S. average of 100.
- 93.4
- Overall RPP
- #199
- of 387 metros
- 78.1
- Rents RPP
- $107K
- $100K national buys
Traverse City ranks #199 of 387 U.S. metros by cost, and its overall price index has risen 8.1 points since 2008.
- rising since 2008
- similar cost to Akron
The verdict
Traverse City costs less than 51% of U.S. metros, an overall index of 93.4, 6.6% below the national average, with rents the biggest swing at 78.1.
- bottom 49%
- by overall cost, nationwide
- 93.7
- goods RPP, tradable items
- 92.4
- services RPP, labor-priced
A $100,000 national salary carries the purchasing power of about $107,098 here; matching a $100K lifestyle takes roughly $93,372.
RPP History (2008-2024)
The cost of living has been trending upward, increasing by 8.1 points over this period. The largest single-year move was in 2011, when the index dropped 6.0 points from the year before.
Traverse City overall RPP, 2008-2024
Every year on record, national average = 100
| Year | Overall |
|---|---|
| 2008 | 85.3 |
| 2009 | 89.4 |
| 2010 | 94.2 |
| 2011 | 88.2 |
| 2012 | 91.7 |
| 2013 | 90.0 |
| 2014 | 90.1 |
| 2015 | 91.2 |
| 2016 | 89.7 |
| 2017 | 88.9 |
| 2018 | 92.7 |
| 2019 | 93.6 |
| 2020 | 90.4 |
| 2021 | 93.4 |
| 2022 | 93.3 |
| 2023 | 90.6 |
| 2024 | 93.4 |
Latest BEA release change
What changed from 2023 to 2024
Traverse City's overall RPP rose +2.8 points, from 90.6 in 2023 to 93.4 in 2024. The largest category movement was rents, changing from 69.5 to 78.1. This is a relative change against the national benchmark, not a household's dollar bill.
Salary Equivalent
A $100,000 salary at the national average cost of living equals:
$93,372
in Traverse City, MI purchasing power
$50,000 nationally
$46,686
$75,000 nationally
$70,029
$125,000 nationally
$116,715
$150,000 nationally
$140,058
$200,000 nationally
$186,744
Use the salary calculator for custom amounts.
Affordability score
C
52/100
How far the median local paycheck goes here, combining income and housing cost
Purchasing power
Not reported
Housing affordability C
52nd percentile
A weighted composite (60% purchasing power, 40% housing affordability) percentile-ranked against every other tracked metro; a missing input redistributes its weight rather than deflating the score. Sources: Census ACS 5-Year 2023 (income) + BEA Regional Price Parities 2024 (cost). Vintages differ by design; see methodology.
Housing-led affordability profile
How Traverse City's cost structure works
Housing is the strongest affordability offset in Traverse City: rents index at 78.1, the component furthest below the national benchmark. That does not make every local expense low, but it is the clearest explanation for the metro's overall RPP of 93.4.
Across all reported metros, the closest component-profile matches are Janesville-Beloit, WI, Monroe, MI, Cleveland, OH. They resemble Traverse City across goods, services, and rents together, so they are stronger structure peers than a place selected only because its overall RPP happens to be nearby.
Across 2008-2024, Traverse City's overall index has risen by 8.1 points. This is a relative price-level history, not a prediction or a personal affordability recommendation; pair it with current local wages and housing options before making a decision.
Traverse City vs every U.S. metro
Where this metro sits in the national cost distribution
93 Bottom 49% higher than 49% of 387 US metros
Each bar is a band; taller bars hold more US metros. The dashed line + filled bar mark this entry. Hover or tap any bar for its full count, share, and where it sits relative to this entry.
Source U.S. Bureau of Economic Analysis, Regional Price Parities · 2024
Traverse City cost breakdown
BEA RPP by category, 100 = national average
- Rents
Rents
78.1 RPP
- Services
Services
92.4 RPP
- Overall
Overall
93.4 RPP
- Goods
Goods
93.7 RPP
What this shows Traverse City's cost structure is housing-led: rents at 78.1 depart furthest from 100, while services sits at 92.4. This is a rent-sensitive profile, not a claim that every local expense moves together.
Goods vs. housing, where Traverse City's cost comes from
Metros near Traverse City's overall cost, plotted by their goods price (horizontal) and housing price (vertical). Same headline RPP, very different structures.
Crosshairs sit at the group median (goods 96.2, rents 76.8). Traverse City is skewed toward housing costs relative to its peer group. Source: U.S. Bureau of Economic Analysis, Regional Price Parities, 2024.
Read the chart as text
- Traverse City (Traverse City, this metro): goods RPP 93.7, rents RPP 78.1
- Akron: goods RPP 93.6, rents RPP 76.8
- Athens: goods RPP 96.3, rents RPP 76.8
- Morgantown: goods RPP 96.3, rents RPP 69.1
- Lafayette: goods RPP 94.3, rents RPP 76.4
- Homosassa Springs: goods RPP 96.2, rents RPP 78.4
- Greenville: goods RPP 96.3, rents RPP 76.8
Price Index Summary
Goods
93.7
Below avg
Services
92.4
Below avg
Rents
78.1
Cheap
MI-relative analysis
Goods prices places Traverse City, MI near the bottom of MI's metros
Among the 15 MI metros PlainCost tracks with reported goods prices data, Traverse City, MI ranks #2 - the 0th percentile within the state. This is a different, narrower cut than the nationwide rank above: it compares Traverse City, MI only against its own state's metros, not the full US field.
Goods prices
#2 of 15
0th percentile in MI
Services prices
#15 of 15
0th percentile in MI
Rent prices
#6 of 15
60th percentile in MI
Ranked by raw value (highest first); a higher rank is not automatically "more expensive is worse", see the national comparison above for direction context. This is a comparison within MI only, not a livability score.
Other MI Metros
Ann Arbor, MI 100.9 Detroit-Warren-Dearborn, MI 100.3 Grand Rapids-Wyoming-Kentwood, MI 95.5 Lansing-East Lansing, MI 95.0 Kalamazoo-Portage, MI 94.8 Monroe, MI 93.5
View all MI metros → Cheapest in MI → Most expensive in MI →
Metros with Similar Cost of Living
These metros have an overall RPP closest to Traverse City, MI's index of 93.4.
Decision peers
Metros with a similar cost mix
These metros are closest to Traverse City's combined goods, services, and rents profile. They may not have the same overall RPP, but their price pressures are shaped in a similar way.
Janesville-Beloit, WI
Goods 93.8 · Services 90.4 · Rents 79.6 Monroe, MI
Goods 93.7 · Services 93.7 · Rents 74.6 Cleveland, OH
Goods 93.6 · Services 96.0 · Rents 79.4 Muskegon-Norton Shores, MI
Goods 93.7 · Services 92.8 · Rents 74.2 Oshkosh-Neenah, WI
Goods 93.8 · Services 90.6 · Rents 74.4 Green Bay, WI
Goods 93.8 · Services 90.0 · Rents 74.7
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Compare to Other Metros
Cost of living guides →, cheapest and most-expensive metro rankings, salary negotiation with RPP data, and step-by-step comparison walkthroughs.
What this means for Traverse City
How to read Traverse City's cost of living before a move, a job offer, or a budget.
- Budget to local prices, not headline pay, a $100K national salary spends like about $107,098 in Traverse City. Salary calculator
- Start with rents: it indexes at 78.1, the largest departure from the national benchmark in this metro's BEA cost mix. Compare it with the other components before treating the overall RPP as a complete household budget.
- Compare Traverse City head-to-head against a specific destination before you decide. Compare metros
RPP is BEA's annual price-level benchmark for the data year shown, not a live market quote. Pair it with current local wages and housing costs before deciding.
Frequently Asked Questions
What is the cost of living in Traverse City, MI?
Traverse City, MI has a Regional Price Parity (RPP) index of 93.4, meaning it is 6.6% less expensive than the national average. Goods are indexed at 93.7, services at 92.4, and rents at 78.1. It ranks #199 out of 387 U.S. metro areas by overall cost.
What salary do I need in Traverse City, MI to match $100K nationally?
To maintain the same purchasing power as a $100,000 salary at the national average, you would need approximately $93,372 in Traverse City, MI. Conversely, $100K earned in Traverse City, MI has the purchasing power of $107,098 at the national average.
How expensive is rent in Traverse City, MI?
Rents in Traverse City, MI are indexed at 78.1, which is 21.9% below the national average. This makes the area relatively affordable for renters.
Is Traverse City, MI getting more expensive?
From 2008 to 2024, Traverse City, MI's overall cost index changed by +8.1 points (from 85.3 to 93.4). The cost of living has been trending upward.
What costs the most in Traverse City, MI?
The priciest category in Traverse City, MI is goods at 93.7, 6.3% below the national average, still the highest of the three categories. The most affordable category is rents at 78.1, 21.9% below average.
What metros have a similar cost of living to Traverse City, MI?
Metros with the most similar overall cost index include Akron, Athens-Clarke County, Morgantown. These areas have RPP values within a few points of Traverse City, MI's 93.4.
Data sources
- BEA Regional Price Parities (RPP), the cost-of-living indices shown on this page
- U.S. Census Bureau, American Community Survey (ACS), gross-rent observations behind the rents component
- BLS Consumer Price Index (CPI), goods and services price relatives
- BLS Occupational Employment and Wage Statistics (OEWS), labor-driven services component
- HUD Fair Market Rents (FMR), 40th-percentile rent cross-reference
Every figure on PlainCost is rendered directly from BEA Regional Price Parity source data, no number is typed in by an editor. See our editorial standards & corrections policy, the methodology behind these numbers, our changelog, or report a data error. Data current as of 2026-08-11. Rankings measure the published cost-of-living index only; we don't recommend where to live or rate any metro's quality of life.