Metro area index
Home appreciation in the Traverse City, MI metro area
FHFA HPI® data shows the Traverse City, MI metro area's all-transactions index changed +3.3% over the year to Q2 2026, versus +4.6% for Michigan and +3.0% for the U.S. That ranks 208th of 410 metro areas and divisions FHFA tracks.
- 1-year change
- +3.3%
- 5-year change
- +59.5%
- Since Q1 1995
- +376%
- Metro rank (1 year)
- 208th
U.S. +3.0%
U.S. +41.3%
U.S. +292%
of 410
Traverse City, MI vs Michigan and the U.S.
FHFA HPI® all-transactions index, rebased so Q1 1995 = 100, through Q2 2026
- Traverse City, MI: 475.7
- Michigan: 328.0
- United States: 391.6
Appreciation by time window
| Window | Metro | MI | U.S. | Gap vs MI | Gap vs U.S. |
|---|---|---|---|---|---|
| 1 year | +3.3% | +4.6% | +3.0% | −1.3 pts | +0.3 pts |
| 3 years | +18.1% | +18.0% | +12.9% | +0.2 pts | +5.3 pts |
| 5 years | +59.5% | +45.6% | +41.3% | +13.9 pts | +18.2 pts |
| 10 years | +131% | +104% | +93.3% | +27.4 pts | +37.6 pts |
| Since Q1 1995 | +376% | +228% | +292% | +147.7 pts | +84.1 pts |
3-digit ZIP regions in the Traverse City, MI area
Regions with at least 10% of their 2010 population inside the metro, largest overlap first. A 3-digit ZIP region can extend beyond the metro boundary.
| 3-digit ZIP region | State | 1 year | 5 years | Since Q1 1995 | Population in metro |
|---|---|---|---|---|---|
| 496 · Traverse City, MI area | MI | +5.0% | +61.7% | +364% | 54% |
Boom, bust, and recovery in Traverse City, MI area
Traverse City, MI area's index peaked in Q2 2007, fell 19.4% to its low in Q2 2012, and regained its peak in Q2 2016, about 9 years after the top. Today it sits +134% versus that 2000s peak. How every state and ZIP region fared
| Area | 2000s peak | Low point | Peak to low | Back to peak | Today vs peak |
|---|---|---|---|---|---|
| Metro | Q2 2007 | Q2 2012 | -19.4% | Q2 2016 (9 yrs) | +134% |
| MI | Q3 2005 | Q2 2011 | -29.4% | Q2 2018 (12.8 yrs) | +83.3% |
| U.S. | Q1 2007 | Q2 2012 | -19.0% | Q4 2016 (9.8 yrs) | +89.3% |
Appreciation after inflation
Adjusting for consumer price inflation, Traverse City, MI area's index has changed +115% in real terms since Q1 1995. Home prices vs inflation
| Window | Inflation (CPI-U) | Metro after inflation | MI after inflation | U.S. after inflation |
|---|---|---|---|---|
| 1 year | +3.9% | -0.5% | +0.7% | -0.8% |
| 3 years | +9.8% | +7.6% | +7.4% | +2.8% |
| 5 years | +24.0% | +28.6% | +17.4% | +13.9% |
| 10 years | +39.1% | +66.0% | +46.3% | +39.0% |
| Since Q1 1995 | +121% | +115% | +48.1% | +76.8% |
If you bought in the Traverse City, MI area in…
An example $300,000 purchase grown at the metro index rate to Q2 2026.
| Bought in | Index change | $300,000 then, at the metro rate |
|---|---|---|
| Q2 1995 | +368% | $1,403,353 |
| Q2 2000 | +219% | $957,765 |
| Q2 2005 | +142% | $724,843 |
| Q2 2010 | +172% | $816,962 |
| Q2 2015 | +147% | $742,106 |
| Q2 2020 | +84.8% | $554,525 |
| Q2 2021 | +59.5% | $478,449 |
| Q2 2023 | +18.2% | $354,455 |
| Q2 2025 | +3.3% | $309,990 |
Frequently asked questions
- How much have home prices risen in the Traverse City, MI area?
- FHFA HPI® data for the Traverse City, MI metro area shows changes of +3.3% over one year, +59.5% over five years, and +131% over ten years to Q2 2026, and +376% since Q1 1995.
- Is the Traverse City, MI area beating the national average?
- Over the past year the metro's index moved +0.3 pts versus the U.S.; over five years the gap is +18.2 pts.
- What area does this metro index cover?
- FHFA computes metro indexes using the counties in each OMB-defined metropolitan statistical area. The index covers the whole area, so individual neighborhoods and homes can differ from it.