1st Advantage MortgageThe median Grand Traverse County household earns $81,647, and 10% of residents live below the poverty line. Those figures describe the county, not you: compare at least three written offers by APR and total cost, and confirm the lender's license before you apply.
On this page
- Grand Traverse County, MI: the basics
- Grand Traverse County housing compared with Michigan
- What Grand Traverse County households earn
- Jobs and commutes in Grand Traverse County
- The communities that make up Grand Traverse County
- How Grand Traverse County compares with nearby counties
- What a median Grand Traverse County budget can carry
- More Grand Traverse County figures
- Local borrowing considerations for Grand Traverse County
- A Grand Traverse County borrower's checklist
- Licensing and complaints for Grand Traverse County
- Nearby and statewide guides
- Frequently asked questions
Grand Traverse County, MI: the basics
With an estimated 96,166 residents (ACS 2020 to 2024), Grand Traverse County ranks 22nd of 83 in Michigan for population. It covers 464 square miles of land, or about 207 people per square mile. For statistical purposes it belongs to the Traverse City, MI metro area, as delineated by the Office of Management and Budget in July 2023. Of the 6 Census places inside Grand Traverse County, Traverse City leads by population with about 15,593; 3 of the 6 are incorporated.
Grand Traverse County housing compared with Michigan
Renters in Grand Traverse County pay a median of $1,288 a month, 14% above the Michigan figure of $1,129. 50% of renting households spend 30% or more of income on rent, and 23% spend half or more. Home values center on $339,400, or 4.2 years of median income. Owners occupy 77% of homes.
| Home costs | Grand Traverse County | Michigan | U.S. middle county |
|---|---|---|---|
| Median gross rent | $1,288/mo | $1,129/mo | $877/mo |
| Median home value | $339,400 | $231,600 | $185,300 |
| Owners | 77% | 73% | 75% |
| Rent-burdened renters | 50% | 50% | 45% |
| Burdened owners | 25% | 23% | n/a |
| Mobile homes | 6.7% | 5.0% | n/a |
| Vacant units | 14% | 12% | n/a |
Because most Grand Traverse County households own, home repairs are a frequent reason to borrow. An unsecured personal loan leaves the house out of the deal, while a HELOC uses it as collateral. High rent burdens leave little slack. If you are borrowing to consolidate, make sure the new payment is lower than the ones it replaces.
What Grand Traverse County households earn
The median household income in Grand Traverse County is $81,647; statewide it is $72,875, so Grand Traverse County runs 12% above Michigan as a whole. Only 8 Michigan counties post a higher median.
| Household income | Grand Traverse County | vs Michigan |
|---|---|---|
| Under $35,000 | 17.4% | -5.7 pts |
| $35,000 to $99,999 | 42.6% | +1.1 pts |
| $100,000 to $199,999 | 30.3% | +4.4 pts |
| $200,000 or more | 9.7% | +0.1 pts |
About 17% of households earn under $35,000, while 40% clear $100,000. The poverty rate is 9.6%, 4 points lower than the state's 13.2%. The Gini index of income inequality is 0.438 (0 is perfect equality). If your income is irregular, as it often is with tips, gig work or seasonal jobs, plan around your leaner months rather than the Grand Traverse County median.
Jobs and commutes in Grand Traverse County
Education and health care employs 26% of working residents, the largest share; retail trade is next with 12%. The sharpest difference from the state is in arts, lodging and food service, at 11% locally and 8% for Michigan. ACS puts five-year average unemployment at 3.8% in Grand Traverse County. About 71% drive to work alone and 7% have trips of 45 minutes or more. 4.9% of households have no vehicle.
| Where residents work | Grand Traverse County | Difference from Michigan |
|---|---|---|
| Education and health care | 25.6% | +2.2 pts |
| Retail trade | 12.5% | +1.7 pts |
| Professional and administrative services | 11.7% | +1.4 pts |
| Arts, lodging and food service | 10.9% | +2.5 pts |
| Manufacturing | 9.9% | -8.3 pts |
| Construction | 8.2% | +2.4 pts |
Shorter commutes usually mean lower vehicle costs, which can leave more room for a payment, or for paying a loan off early.
The communities that make up Grand Traverse County
The table lists the 6 largest of 6 Census places in Grand Traverse County, by population. Together all 6 hold about 20,498 people, so roughly 79% of residents live outside any named place. Interlochen has the highest median household income on the list ($104,883) and Grawn the lowest ($57,908), counting places with at least 500 residents. Median rent ranges from $982 in Kingsley to $1,348 in Grawn. Live in one of these Grand Traverse County communities, or between them? This is your local guide.
| Name | Kind | Pop. | Income | Rent | Miles |
|---|---|---|---|---|---|
| Traverse City | city | 15,593 | $74,087 | $995 | 3 mi |
| Kingsley | village | 1,785 | $67,321 | $982 | 9 mi |
| Chums Corner | CDP | 1,186 | $100,855 | n/a | 6 mi |
| Grawn | CDP | 800 | $57,908 | $1,348 | 8 mi |
| Interlochen | CDP | 791 | $104,883 | n/a | 11 mi |
| Fife Lake | village | 343 | $68,472 | $1,632 | 14 mi |
How Grand Traverse County compares with nearby counties
Nearest neighbors first, measured between county centers (23 to 38 miles). Leelanau County leads the group on income ($99,422), Wexford County trails ($61,085), and Grand Traverse County out-earns 5 of the six.
| Adjacent area | How far | HH income (median) | Rent (median) | Owner share |
|---|---|---|---|---|
| Grand Traverse County | - | $81,647 | $1,288/mo | 77% |
| Kalkaska County, MI | 23 mi | $68,578 | $853/mo | 88% |
| Wexford County, MI | 27 mi | $61,085 | $897/mo | 81% |
| Antrim County, MI | 27 mi | $72,054 | $902/mo | 86% |
| Benzie County, MI | 34 mi | $74,834 | $1,026/mo | 88% |
| Missaukee County, MI | 36 mi | $66,194 | $891/mo | 85% |
| Leelanau County, MI | 38 mi | $99,422 | $1,228/mo | 92% |
What a median Grand Traverse County budget can carry
Here is the Grand Traverse County median household run through a simple DTI check. Your numbers will differ.
- Monthly gross at the median, Grand Traverse County: $6,804
- Median rent: $1,288, or 19 cents of every gross dollar
- Under a 36% cap, $2,449 total minus rent leaves $1,161
Two-income households and single earners in Grand Traverse County land in very different places on this math, so run it for your own budget.
More Grand Traverse County figures
College graduates make up 41% of the adult population. About 4% go without health insurance.
| Measure | Grand Traverse County | Michigan statewide | Typical U.S. county |
|---|---|---|---|
| Median age | 43.5 | 40.2 | 41.5 |
| Bachelor's or higher | 40.6% | 32.4% | 22.2% |
| No high school diploma | 4.3% | 7.9% | n/a |
| No health insurance | 4.3% | 4.9% | 7.8% |
| No vehicle | 4.9% | 7.0% | 5.4% |
| Work from home | 15.2% | 13.5% | 8.7% |
| Poverty rate | 9.6% | 13.2% | 13.2% |
| Unemployment (ACS) | 3.8% | 5.7% | 4.4% |
| Minutes to work | Grand Traverse County workers |
|---|---|
| Under 15 min | 33.6% |
| 15 to 29 min | 46.3% |
| 30 to 44 min | 13.1% |
| 45 to 59 min | 3.1% |
| 60+ min | 3.9% |
Local borrowing considerations for Grand Traverse County
The county's numbers point to a few situations that come up often for Grand Traverse County borrowers.
- Strong incomes, long terms. 40% of Grand Traverse County households earn $100,000+. The risk is a term that outlasts the need.
- Tight rental budgets. With 50% of Grand Traverse County renters cost-burdened, test a new payment against a lean month.
- Check your file. An error fixed before you apply can change the offers a Grand Traverse County borrower sees (free reports).
A Grand Traverse County borrower's checklist
Four checks before you sign anything:
- Borrow the amount the job needs; extra cash adds interest.
- Collect three written offers and compare APR and total repaid.
- Confirm the lender is licensed in Michigan.
- Ask a Grand Traverse County credit union about member loans.
Licensing and complaints for Grand Traverse County
The Michigan Department of Insurance and Financial Services is the place to verify any lender's Michigan license. A CFPB complaint gets forwarded to the company for a response. Statewide data and rules: Michigan guide.
Nearby and statewide guides
For statewide rules and data, see the Michigan guide.
Frequently asked questions
How much do households in Grand Traverse County earn?
The median is $81,647; 40% earn $100,000 or more and 17% under $35,000. A lender uses your own documented income, not this figure.
How much is rent in Grand Traverse County?
Median gross rent, utilities included, is $1,288 a month; 50% of renters spend 30% or more of income on it.
I own my home in Grand Traverse County. Personal loan or HELOC?
A HELOC uses the house as collateral; a personal loan usually does not. With 77% of homes owner-occupied here, many readers can compare both in writing.
Which towns does the Grand Traverse County guide cover?
Every community in the county, unincorporated areas included. The largest of its 6 Census places: Traverse City, Kingsley, Chums Corner, Grawn, Interlochen.
Is the fit check different in Grand Traverse County?
No. It is identical everywhere, and it never looks at your neighborhood.